Who Is the World’s Richest Family?
Thanks to their stake in Walmart, America's largest retailer by sales, the Walton family is the richest family on the planet.
As reported by Bloomberg, the Waltons have been named the wealthiest family in the world for the fourth year in a row, and are estimated to be worth a whopping $224.5 billion.
Sam Walton, the founder of Walmart, was known as a penny pincher. Since his death in 1992, the Walton family — including Sam's three living children: Rob, Jim, and Alice — has been very discrete about their fortune, nearly flying under the radar.
However, times are changing, and recently the Waltons began investing their money more publicly.
Rob Walton, 78, made heads turn in August when he purchased the NFL's Denver Broncos team for $4.65 billion.
Weeks after the big NFL purchase, the Walton clan continued to pour money into new ventures — some aiming to make more money, others aiming to have a little fun.
In the weeks following the big NFL purchase, the Walton heirs hosted their version of Coachella, a music festival called Format Festival.
Their efforts were to bring publicity to the quiet town of Bentonville, Ark., where Walmart is currently headquartered.
Format Festival showcased approximately 50 musical acts at Sugar Creek airstrip, a massive 250-acre airfield located about four miles northeast of downtown Bentonville.
However, the Waltons have been pouring their funds into more than just football and festivals.
For instance, Alice Walton, 73, owns and operates the Crystal Bridges Museum of American Art in Bentonville.
Crystal Bridges Museum of American Art is home to several showstoppers in the art world, including an original print of the U.S. Constitution and notable works by Norman Rockwell, Andy Warhol, Georgia O'Keeffe and others.
What's it like to be rich? We don't know. Our biggest flex is buying two-ply toilet paper from — you guessed it — Walmart.