The Waltons are known as the richest family on the planet. With assets currently at 191 billion USD, an increase of 39 billion USD compared to 2018, it was calculated that last year, this family earned 70,000 USD per minute, earned 4 million USD per hour, equivalent to about 100 million USD per day.
The family's assets have increased by 39 billion USD, up to 191 billion USD since topping the "richest families in the world" ranking in June 2018.
According to the latest update from Forbes, currently the richest billionaires in this family include: Rob Walton (the eldest son) is the 12th richest person in the world with 51.8 billion USD; Jim Walton (the youngest son) is the 10th richest person in the world with 52.1 billion USD; Alice Walton (the youngest daughter) is the 11th richest person in the world with an ownership of 51.9 billion USD...
Walton is the family behind the world's leading retail group Walmart.
The rise of the Walton family began with a man named Samuel Moore (Sam) Walton. He was the founder of Walmart retail group and was recognized by history as one of the richest people in the world in the late 20th and early 21st centuries.
In 1992, when Sam Walton passed away, the Times reported that many stores across the US predicted Walmart would quickly enter recession. Times believes that Sam is the one who created the "soul" for Walmart, so when the "soul" is gone, Walmart will gradually shrink and disappear.
But everything was wrong, because when Sam Walton's eldest son, Samuel Robson Walton, took over (and was also Chairman of the Board of Directors for 20 years), the company's net revenue increased by more than 400 billion USD, total profit increased by more than 22 billion USD, total employee count from 370,000 people to 1,380,000 people, supermarket system increased from 1,700 to 4,400, annual sales increased 5 times.
After the success of the second generation, people continue to pay attention to the third generation of the family. On June 5-5, 2015, at Walmart's shareholders' meeting, Robson Walton announced that the Board of Directors had elected Robson Walton's son-in-law, Greg Penner, as Walmart's new Chairman, a decision that took effect on the day of announcement. Penner is experienced in the electronics, finance, retail, especially e-commerce, which is being focused on in Walmart's transformation process.
The secret to Walmart's growing focuses on 3 factors. First is management according to a modern business model; second is focusing on the legal governance structure; and finally, inheriting family business is inheriting existing values.
The business formula of the richest family on the planet that has been passed down from generation to generation is also very simple, including: Cut costs, reduce prices, optimize services, effectively exploit information technology and ensure employee life.
