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How Much Are Walmart's Owners Really Worth? [POLL]

In Life by Kim Muraro , on Wednesday, July 18, 2012, 5:39 AM (PDT)
walmart owners richer than 50 percent of the country
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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.

Read: Walmart Is No Longer America's Favorite Cheap Shopping Destination

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.

Read: Wal-Mart Daughter Arrested for DUI on Her Birthday

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;

Read: Discovered: Meth Lab in Walmart Bathroom [VIDEO]

-- 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:

Take Our Poll

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?

  1. Nope. That's where my family and I find the best deals, and we will continue to shop there.
  2. Yes. It disturbs me that the financial disparities are that out of whack.
VOTE

Results

  • <#setting number_format="0">0%

 
 
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Comments (1)
Posted By Victoria Bowen (267 days ago)
We, the taxpayers, want our money back from supporting your slave-labor with Medicaid and Food Stamps.
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