Bloomberg Wealth discusses the world’s richest families and their continued increase in wealth. The article begins as follows:
Scarcely a day goes by without a stock sale hitting the market: $99 million one day, $146 million the next, almost $294 million last week alone.
The discrete offerings, frequently by Goldman Sachs Group Inc., are on behalf of the Waltons, the world’s richest family. In the past seven months they’ve liquidated $6 billion of Walmart Inc. stock — an amount more than double the value of special bonuses Walmart paid its 1.5 million U.S. workers last year for recognition of their contributions during Covid.
And yet, it’s barely made a dent in their holdings. The descendants of Sam Walton still control 1,334,480,250 shares of Walmart directly and through family trusts, while their fortune, largely tied to their stake in the world’s largest retailer, has increased by $23 billion over the past year because of the rising stock price.
Walmart’s success has kept the family from Arkansas — now in its third generation — wealthier than Jeff Bezos and Elon Musk, the two mega-billionaires of our era, and almost $100 billion ahead of the world’s second-richest dynasty, the Mars clan, according to the Bloomberg Billionaires Index.
Read more: World’s Wealthiest Families Gained $312 Billion Over Past Year
The two families were among the biggest winners in the past year as governments and central banks flooded economies with cash, fueling a boom in e-commerce, comfort food and spending on pets. But they were far from alone. As the pandemic reshaped the way we live and work, the 25 wealthiest families on the planet added $312 billion to their collective fortunes, a 22% gain since last August.
To see the full article, click: “These Are the World’s Richest Families.”
Posted by Bennett Mansour, Associate Editor, Wealth Strategies Journal.