Bloomberg: Two Walmart Heirs Top $100 Billion Wealth for the First Time

Gaius · 2024-09-17T03:29:02.274Z

. . . Jim Walton, 76, the youngest son of founder Sam Walton, leads the way with $102.6 billion, while Rob Walton, 79, is at $100.4 billion, according to Bloomberg’s index. Sister Alice Walton, 74, just missed eclipsing the 12-figure mark in wealth at $99.7 billion.

The Waltons have longed ranked at or near the top of the world’s richest families, and currently have a total net worth of more than $350 billion. The three siblings have each added almost $30 billion this year to their net worths. . . .

https://www.bloomberg.com/news/articles/2024-09-16/two-walmart-heirs-each-top-100-billion-wealth-for-first-time?srnd=phx-industries-consumer

Gaius · 2024-09-17T03:39:38.880Z

Yup assets, like Walmart stock, really are soaring these past couple years.

Meanwhile,
I wonder, what could be driving so many people to shop at Walmart these days.
They didn’t used to shop there as much, and now they do
and the people who have assets, especially Walmart stock are seeing a nice payday because of it.

Hmmm

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Gaius · 2024-09-17T04:04:23.152Z

Here is some perspective (context)

In the past 2+ years assets really have grown.
The S&P and the QQQ (kind of an index of tech stocks) have each grown ~10% faster than inflation, (10% is a LOT).

Still if you bet on the idea that hard-hit consumers and a weakening job market would drive people to shop at Walmart your portfolio increased 72% in that same two-year period.
(72% is like a Sequioa.)

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Guvnah · 2024-09-17T14:45:37.249Z

Gaius:

I wonder, what could be driving so many people to shop at Walmart these days.

Personally, I have grown in trust of what I get there. I can expect to find what I’m looking for (assuming it’s not some obscure thing.) By and large I can expect the pricing to be competitive with (if not superior to) most any other store.

Bu that’s just my single data-point response to the question.

Impenitent · 2024-09-17T15:11:04.423Z

good night John-boy