How Much Are Walmart's Owners Really Worth? [POLL]
Be Prepared to Have Your Mind Blown
Sure, you may be saving your dollars while shopping at Walmart, but don't feel too bad about what those low prices mean for the owners of the discount chain. The six heirs of the Walton family -- Walmart's owners -- are reportedly worth $89.5 billion, meaning they have as much money as nearly half of all American households … combined.
Josh Bivens of the Economic Policy Institute calculated the family's worth (and The Huffington Post reports it), which totaled $89.5 billion in 2010.
That number is roughly equivalent to the bottom 41.5 percent of U.S. families, or nearly 49 million U.S. households combined.
In fact, between 2007 and 2010, the Walton clan's net worth rose considerably, while the incomes of most Americans fell, Bivens reports.
More eye-opening numbers:
-- Two of the Walton heirs are among the top five richest women in the world, according to Wealth X;
-- Walmart has helped drive down American employee wages by outsourcing a large part of its distribution work to warehouses throughout the country;
-- Bringing a new Walmart into a community may mean lost wages -- a planned store in the Seattle area could cost $14.5 million in lost wages across 20 years, according to a local advocacy group;
-- The top one percent of wealthy Americans saw their incomes rise 275 percent between 1979 and 2007, but the bottom 20 percent saw a wealth increase of only 20 percent during that same period, according to the Congressional Budget Office;
-- The top 10 percent of U.S. earners control two-thirds of American wealth;
-- Americans spent $36,000,000 at Walmart every hour;
-- That leads to $20,928 in profit for the company every minute;
-- Walmart is the largest company in the history of the world, according to TheFinancialPhysician.com.
So tell us:
Does the news about the Walton family's massive wealth, especially in relation to the rest of the country, change your opinion about shopping at Walmart?
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