What began as a humble retail venture by brothers Sam and Bud Walton in 1962 has today evolved into a global juggernaut. Walmart operates over 10,750 stores worldwide, including more than 4,600 in the US alone, making it one of the most influential retail corporations on the planet.

The Walton family, heirs to the Walmart retail empire, have officially retained their title as the richest family in the world, with a staggering collective net worth of $432 billion — exceeding the GDPs of Greece and Hungary combined, and even that of Iran, according to Bloomberg report last year.

Despite their immense fortune, Walmart’s origins are rooted in simplicity and grit. Founder Sam Walton was renowned for his hands-on leadership style. Retail consultant Walter F. Loeb described him as someone “who was at work at 4:30 in the morning… and who treated his associates well as persons, not just as clerks and salespeople.”

Sam Walton passed away in 1992 at age 72, and his brother Bud died three years later. Their legacy has since been carried forward by their descendants, including Rob Walton, who served as Walmart’s chairman until 2015, and Greg Penner, Sam’s son-in-law, who now chairs the board.

Penner and his family have continued to make power moves beyond retail. In 2022, they purchased the Denver Broncos NFL team for a jaw-dropping $4.7 billion, marking one of the most expensive franchise acquisitions in history.

The Waltons also hold stakes in seven major sports franchises, thanks in part to family connections with sports tycoon Stan Kroenke—husband of Ann Walton, Bud’s daughter. Kroenke’s sports empire includes Premier League club Arsenal, Los Angeles Rams, Denver Nuggets, and Colorado Avalanche, among others.

Further reflecting the scale of their wealth, Nancy Walton Laurie, another of Bud’s daughters, owns Kaos, a $300 million superyacht. Acquired from Qatari royalty and extensively refurbished, it is currently the largest yacht in the world owned by a woman. (Business Insider Africa)