The Waltons – who became the richest family in the world by inheriting Wal-Mart – are going to make a stealth appearance in the State Of The Union tonight when President Obama discusses his proposals to close tax loopholes that unfairly benefit the ultra-rich.
Is it a good idea for America to send qualified, yet underprivileged and lower-income students, to college? The answer is indisputable: yes.
On Saturday, Congresswoman Jan Schakowsky (D-Ill) went on CNN to respond to a Walmart executive’s claim that she was misinformed about wage levels at the company. Needless to say, Rep. Schakowsky was not having it.
Today, Forbes released its annual list of the 400 richest Americans. Not only can the Waltons still count themselves as the richest family in America, but their net worth rose 25% in the last six months. The six Waltons on the list—Christy, Alice, Jim, Rob, Ann, and Nancy—are worth a combined $144.7 billion, up $29 billion from the last Forbes tally in March. It’s as if the richest Waltons found a long-lost, equally affluent sibling.
We recently heard an amazing statistic on the Melissa Harris-Perry show about how Black and Latino households lost large percentages of their wealth during the recession. It got us thinking, of course, about how, while that was happening, the Walton Family continued to amass more wealth than any family could ever need.
This week, Forbes released its annual billionaires issue. Predictably, the Waltons, whose wealth is derived almost exclusively from their holdings in Walmart, rank among the richest people on the planet. Six of them appear on the Forbes Billionaires list, and they are collectively worth $115.7 billion. Sam Walton’s heirs rank among the top 20 richest people on the planet and his brother Bud’s children are further down the list—but still miles above the rest of us:
The Waltons, the richest family in the United States, and the owners of nearly half of all Walmart stock, just announced they’ve given themselves a raise of $436 million dollars. The Board of Directors, which includes three members of the Walton family, just voted to increase the annual dividend by 18% over the previous fiscal year. As a result, the Waltons’ Walmart dividends alone in FY14 will top $3 billion.
This week, Walmart associates in a dozen cities across the country risked several days’ pay to go on strike following the company’s retaliation and attempts to silence their voices.
Following the release of this year’s Forbes 400, Josh Harkinson at Mother Jones has a great piece up today putting the Waltons’ wealth in perspective.