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Walton Family Expands Voting Power to Next Generation, Strengthening Control Over $345 Billion Walmart Empire

Dec 21, 2024, 01:45 PM

The Walton family, owners of Walmart, has expanded its voting power to the next generation, allowing all 8 grandchildren of Walmart's founder, Sam Walton, to have voting rights over their inheritance. This move strengthens the family's control over their $345 billion retail empire. The Walton family, which regained the top spot on Bloomberg's annual ranking of the world's richest families in 2024, has seen their wealth grow due to an 80% increase in Walmart's stock value this year. The family's internal governance of their ownership interest in Walmart will now include its next generation, ensuring continued family influence over the company.