Meet Alice Walton, who just joined the $100 billion club

Alice Walton, the Walmart heiress, has officially joined the elite group of individuals with a net worth of over $100 billion. Her wealth has surged by $30.1 billion in 2023, largely due to the significant rise in Walmart’s stock price, which increased by 54% this year.

As of the close of markets last Tuesday, Walton’s net worth hit $100 billion, according to the Bloomberg Billionaires Index.

This milestone places Alice Walton among fewer than 20 people globally whose fortunes exceed $100 billion, a list that includes names such as Elon Musk, Jeff Bezos, Bill Gates, and Warren Buffett.

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Walton now ranks as the 18th richest person in the world and the richest woman globally, surpassing L’Oréal heiress Françoise Bettencourt Meyers. Bettencourt Meyers saw her net worth decline by $10.8 billion in 2023 due to a 15% drop in L’Oréal’s stock price, bringing her fortune to $88.8 billion.

Walton’s wealth stems primarily from her stake in Walmart, the world’s largest retailer. Alongside her brothers, Jim Walton, who has a net worth of $103 billion, and Robson Walton, with $101 billion, Alice Walton holds over 11% of Walmart.

The siblings inherited these shares from their father, Sam Walton, who founded Walmart in 1945. Walmart’s success has propelled the Walton family to the top ranks of the wealthiest individuals in the world.

The three Walton siblings have collectively benefited from over $15 billion in stock sales and dividends since 1992.

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Walmart’s sustained growth, highlighted by its position at the top of the Fortune 500 rankings for over a decade, has continued to increase its fortunes. The company’s dominance in the global retail industry has further secured the Walton family’s status among the richest families in the world.

The shift in Alice Walton’s net worth is especially noteworthy given her recent ascent past Françoise Bettencourt Meyers. Bettencourt Meyers, who holds a 35% stake in L’Oréal, inherited her fortune from her mother, Liliane Bettencourt, who passed away in 2017. Although she was previously the world’s wealthiest woman, Bettencourt Meyers’ net worth has declined this year, largely due to the drop in L’Oréal’s stock.

Alice Walton’s inclusion in the $100 billion club not only highlights her fortune but also underscores the financial strength of the Walmart empire. With her brothers also ranking among the wealthiest individuals in the world, the Walton family continues to play a pivotal role in the global economy.