World’s richest family
Mukesh Ambani is India’s richest person. But did know which is the wealthiest family in the world? According to reports, the Walton family is the wealthiest family in the world. With a massive net worth of $432.4 billion, the Walton family’s wealth is reportedly nearly 2.5 times greater than the combined fortunes of Mukesh Ambani and Gautam Adani.
The Walton family’s wealth comes from Walmart, the world’s largest supermarket chain. Founded in 1962 by Sam Walton, Walmart started as a small store selling basic items like salt and turmeric at discounted prices.
Today, Walmart has grown into a global retail giant with more than 10,600 stores worldwide and an annual revenue of $648.1 billion. Walmart reportedly makes around $473.2 million every single day.
Sam Walton, born in a modest family, worked from a very young age delivering milk and newspapers. He later worked as a salesman at a retail store, but was fired by his manager.
That setback, however, gave him insights into how the retail business worked. He realised that selling daily essentials at a discount could attract more customers, especially if they were encouraged to buy in bulk. This idea became the foundation of Walmart’s success.
Sam Walton passed away in 1992, and since then, Walmart has been managed by his children, Jim Walton, Rob Walton, and Alice Walton. The family owns about 46 per cent of Walmart through two holding companies, making them the richest family in the world according to Bloomberg’s ‘World’s Richest Families 2024’ list.
Shivam Verma is a journalist with over three years of experience in digital newsrooms. He currently works at NewsX, having previously worked for Firstpost and DNA India. A postgraduate diploma holder in Integrated Journalism from the Asian College of Journalism, Chennai, Shivam focuses on international affairs, diplomacy, defence, and politics. Beyond the newsroom, he is passionate about football—both playing and watching—and enjoys travelling to explore new places and cuisines.
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