Another Shocking Fact About the Walmart Heirs

Can you imagine this. An insightful and probing analyst of the Wal-mart business model... making money. The obligatory lets-trash-Wal-Mart-at-Christmas-time article

The Waltons currently own 49 percent of Walmart stock.

That's right. The six Waltons, heirs to Walmart founder Sam Walton, not only have a net worth equal to the combined wealth of the bottom 30 percent of Americans, as we learned this week from University of California economist Sylvia Allegretto, but they also own and control nearly half of Walmart, the world's largest corporation.

That's an astounding fact. Last year, Walmart had sales of $422 billion and generated $16 billion in profits. That's quite a cash stream for a single family to be able to dip into, year after year.

No kidding... that should be against the law.

While one could argue that other wealthy corporate founders made their money by producing something that benefited society as whole -- the founders of Google, Apple, and Microsoft, for example, introduced products that fueled the creation of many new businesses and jobs -- that's not the case with the Waltons.

She's right, Wal-mart has taken down nations with their flawed business model.

This is how the Waltons made their billions and, indeed, continue to profit every time someone shops at Wal-mart.

http://www.huffingtonpost.com/stacy-mit ... 38952.html

I wonder how Apple makes it billions. Maybe Stacey Mitchell's next article can delve into the secrets of Apple.

Stacy Mitchell is a Luddite throwback who doesn't even understand business. Microsoft has created the operating systems and software that runs most major corporations like Walmart. Apple has spurned a third-party market of products that are sold though those big bad stores like Walmart. And Google's wonderful marketing skills and search engines drives millions of customers to these major retailers. And you can thank companies like Walmart who sells computer equipment at bargain basement prices which enable folks with middle-class salaries to visit sites like Huffington Post to read drivel like she writes.

Merry Christmas.

One of the Walton heiresses has created a museum in Arkansas, buying great art from all over the world to give a little culture to the Ozarks.

I do not shop at Walmart....you have that choice too.

I avoid it at all costs...

Not my favorite place to go except for people watching. What a huge collection of "interesting" people.

given that they make billions, I hardly see how their business model is flawed. That is the purpose of a business isn't it, to make money? Perhaps it is the way in which they do it that is less than palatable.

Rockdoc Franz wrote: Not my favorite place to go except for people watching. What a huge collection of "interesting" people.

given that they make billions, I hardly see how their business model is flawed. That is the purpose of a business isn't it, to make money? Perhaps it is the way in which they do it that is less than palatable.

Less palatable than...?

Even if you don't shop at Wal-Mart, they have helped to keep your prices for clothes, etc. lower by holding other stores feet to the fire. I would like to see if selling food has forced Safeway & King Soopers to keep prices lower.

The newly remodeled King Soopers on Wadsworth (somewhere around 88th ave) sells furniture, bedding and toys.

It seems to be a business model that works.

Walmart has done more for the American family than the US government has- by a long shot.

The government costs us money every year- money that is spent as in-efficiently as is known by man on this earth. If you were looking for a role model on how to waste money- the US government is like Mecca.

The money we spend at walmart - at least we know was spent more efficiently. Since they buy in large quantities and pressure their suppliers for the lowest price, they are competitive. The US government knows nothing about being competitive.

Walmart has saved the American consumer billions upon billions of dollars and I would place them right up there with Bill Gates and Steve Jobs in terms of the good that it does for society.

Now you can buy cheap crap at walmart too- but if you stick to the basics like some food items- and necessary household stuff like soap and toilet paper and oil for your car- you can save a considerable amount over less competitive outlets for those same products.

I bought a vacuum cleaner 6 years ago at walmart for 38 bucks- and it's still going strong!

The family has every right to own just over 50% of the company- this insures that they remain in control of the business that Sam started and built (as long as the family can agree). The rest of us can share in the business profits by purchasing stock if we want to.

We can all invest in the company- or just reap the benefits of being able to purchase a product for less of our money - in effect- this gives every American a raise. If you get more for less- you'll have money to buy other things with the money saved.

And as one other poster has correctly pointed out- even if you don't shop at walmart- the company has saved you money as well- by forcing other retail supplier's to be more competitive! How many billions was that worth?

I personally think Walmart's best days are behind it now- what with all the lawsuits and attempts to unionize it's workers- the most successful business models always wind up becoming the target of a covetousness society.

But it was awsome while it lasted.

50% control? Personally I think that is a good thing. Too often these days, the individual stockholders don't own a big enough percentage of shares to wield power, instead we get companies controlled by execs who award themselves excessive salaries, etc. A group of strong owners tends to think more long term and keeping expenses down.