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When it comes to the richest family in the world, the Waltons undoubtedly take the crown. With a staggering fortune of $224.5 billion, they have secured their position at the top of the wealth ladder.
Their immense wealth is primarily attributed to their substantial stake in Walmart, the largest company in the world in terms of revenue.
Who is the number one richest family?
The Waltons are part of the fourth generation of the Mars family, who currently oversee the renowned Mars candy company.
With a net worth of $160 billion, they hold the title of the second-wealthiest family globally. This impressive wealth has been amassed through their successful candy empire.
At the forefront of the Walton family’s wealth are Jim, Rob, and Alice Walton. Each worth approximately $58 billion, they are ranked 19th, 20th, and 21st, respectively, on Forbes’ billionaire list as of September 20, 2023.
Their fortunes are primarily derived from their involvement in Walmart, which has propelled them to the pinnacle of the value chain.
Walmart, founded by Sam Walton in Arkansas in 1962, is an absolute retail giant. With revenues of $611 billion in 2022, it holds the title of the world’s largest company by revenue.
The company boasts a staggering 2.1 million global associates and operates over 10,500 retail stores worldwide, including 5,215 stores in the United States as of July 31, 2023.
While Walmart is renowned for its big-box stores in rural and suburban America, it has faced both admiration and criticism.
The company’s low-priced products have made it a popular choice for budget-conscious consumers.
However, its labor practices have come under scrutiny, leading to debates about fair wages and employee treatment.
Interestingly, Walmart failed to establish its big-box consumer lifestyle in New York City, unlike its competitor, Target.
Despite this setback, Walmart’s global dominance remains unwavering, and its impact on the retail industry is undeniable.
This article was updated 3 weeks ago