summary:
- Alice Walton has overtaken Françoise Bettencourt Meyers as the richest woman in the world.
- Walton's net worth is more than $95 billion and is approaching the $100 billion mark.
- Her wealth increase is due to Walmart's stock price rising 44% this year.
- The fall in L'Oreal shares has reduced Bettencourt Myers' net worth to $91 billion.
- The Walton brothers each own more than 11% of Walmart and have amassed significant wealth from stock sales and dividends.
Alice Walton, daughter of Walmart founder Sam Walton, is poised to make history as her net worth approaches $100 billion.
The soaring value of Walmart's shares has made her the richest woman in the world, surpassing L'Oreal heiress Françoise Bettencourt Meyers.
Walton's net worth has soared to more than $95 billion as Walmart's shares have risen a staggering 44% this year.
The surge has increased her net worth by $25 billion since January, and if her fortune keeps growing, she could soon join the $10 billion-plus club currently including the likes of Elon Musk, Bill Gates, and Warren Buffett.
In contrast, Bettencourt Myers' net worth has fallen by about $9 billion this year, to a current net worth of $91 billion, mostly due to a 12% drop in L'Oreal shares since the start of the year.
Walton currently ranks 18th on the Bloomberg Billionaires Index, just behind his brothers Jim Walton and Robson Walton, who have fortunes of $98 billion and $95.8 billion, respectively.
Each Walton brother owns more than 11% of Walmart, inherited from their father, and Bloomberg estimates that they have each amassed more than $15 billion in stock sales and dividends since 1992.
Currently ranked 20th on Bloomberg's list, Bettencourt Myers owns about 35% of L'Oreal, the world's largest cosmetics company, which she inherited from her mother, Liliane Bettencourt, who died in 2017.
Born in Newport, Arkansas in 1949, Alice Walton has taken a different path than her siblings: While they have been directly involved in running Walmart, Alice has focused on art curation and philanthropy.
She holds a degree in Economics from Trinity University and began her career in finance as an equity analyst and asset manager.
In 2011, Walton showcased her passion for arts and culture by opening Crystal Bridges Museum of American Art in her hometown of Bentonville, Arkansas, an endeavor that highlights her commitment to giving back to the community and sharing her love of art with the public.
Recent changes in the wealth rankings highlight the dynamic nature of global markets and the significant impact that stock price movements have on an individual's net worth.
Walmart's strong performance this year has not only increased the Walton family's wealth, but also reflects the company's ability to adapt and thrive in a tough retail environment.
The Walton family's enormous wealth comes primarily from their stock holdings in Walmart, which continues to grow, reflecting the company's dominant position in the retail industry.
If Walmart's stock price reaches new highs, it will not only benefit the Walton family heirs, but also affect the company's millions of shareholders and employees around the world.
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