Per Business Insider
The Walton family are reportedly the heirs to both Sam's Club and Walmart, and recently, on CNBC, it was revealed that they actually sold some of their shares. This came as the family sold $4.39 billion worth of Walmart stock.
This came as Walmart's shares increased by 9% in the first half of the year. Forbes described the Walton family. as the richest family in America, with a net worth of $247 billion in 2020 due to their Walmart stake.
Half of Walmart's stock is reportedly held by Sam Walton and his brother James "Bud's" seven heirs. So far, the heirs include Rob, Jim, Alice, Christy, Luke, Ann, and Nancy.
Rob Walton served as Walmart's chairman for over two decades and still remains part of the board with Gregg Penner, his son-in-law. Other holdings of the family include Arvest Bank.
In April, it was reported that Walmart said that their Chicago stores have never been profitable ever since they opened the first one about 17 years ago.
During that same month, Walmart sold its Bonobos menswear brand at a $235 loss. This came after the company sold it for $75 million after buying it in 2017 for $310 million.
See flow at unusualwhales.com/flow.
Other News:
- Walmart, $WMT, has said: “Our Chicago stores have not been profitable since we opened the first one nearly 17 years ago"
- Walmart sold its Bonobos menswear brand, losing over $200 million
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