Walmart is a multinational retail company that operates a chain of department stores, grocery stores, and hypermarkets. It is one of the most successful retail corporations globally that has been providing affordable products to its customers for nearly six decades throughout the world. Sam Walton founded it.
Likewise, today we are talking about Sam Walton's daughter Alice Walton. The talented personality is a philanthropist, art curator, and heiress to the fortune of Walmart. As of 2022, she is the second-richest woman in the world after Francoise Bettencourt Meyers. Also, she has been involved in multiple other businesses and ventures.
Furthermore, Alice has amassed a hefty amount of money throughout her career. However, few might be unaware of her massive riches and how they came to be. Hence, this article is about Alice Walton's net worth and exploring her various earning sources.
Walmart Biography - Retail Company
Alice Walton Net Worth And Career
The 5 feet and 8 inches tall heiress was born and raised in Bentonville, Arkansas. Her father, Sam, and mother, Helen Walton, welcomed her into this world. Moreover, she has three brothers, Rob Walton, John Walton, and Jim Walton. After completing her high school studies at Bentonville High School, Ms. Walton enrolled at Trinity University and graduated with a B.A. in economics and finance.
Alice began her career journey only after graduating. Despite being the daughter of a business tycoon, she did not work for her father's company. Instead, she moved on to become an equity analyst for First Commerce Group. After that, Walton briefly worked as a broker for E.F. Hutton. Furthermore, she founded an investment bank, Llama Company, in 1988. Thanks to her multiple ventures and investments, Alice Walton's net worth is a whopping $66 billion. Much of her fortune comes from her Walmart shares.
As we mentioned a couple of times earlier, Sam Walton's daughter comes from one of the wealthiest families in the world. The retail company founded by her late parents has gone on to expand globally. Moreover, Walmart's share price is $136.84 each as of September 2022.
All of the Walton siblings hold some percentages in Walmart. The three Walmart heirs, Rob, Jim, and Alice's combined wealth totaled $163 billion in 2020 alone. That's about $87 billion more than the second-richest family in America, the Kochs, as per Forbes data. Also, Christy Walton, Lukas Walton, Alice Anne Walton, and Nancy Walton Laurie are other heirs to the Walmart fortune. Looking at Walmart's success and considering her shares in it, Alice Walton's net worth of $66 billion does not seem surprising.
Until this, you might have already gotten to know who she is. However, aside from being an heiress, Alice is also an art curator. So now, without further delay, let's discuss her art endeavors.
Alice Walton Art Collection
As already mentioned, besides her inherited family wealth, Alice is also an art collector. She fell in love with the arts relatively young. Along with her mother, she often used to paint watercolors during camping trips. But, the billionaire was a frustrated painter and later put down her brush and began collecting artwork.
The gorgeous lady purchased a 25-cent print of Picasso's 1902 "Blue Nude" in one of her father's Ben Franklin stores at the age of 11. As per the Forbes article, she paid for it with her five weeks of earnings from selling popcorn outside on the sidewalk. Then, in 2005, she bought Asher B. Durand's "Kindred Spirits" landscape for $35 million.
Moreover, her love and interest in art led to the founding of the Crystal Bridges Museum of American Art in 2005. Crystal Bridges was designed by the Boston architect Moshe Safdie, and it covers 120 acres of the former Walton family land.
In 2004, the art curator bought art from the collection of Daniel Fraad and Rita Fraad at Sotheby's in New York. Besides that, her extensive art collection includes the masterpieces of legendary artists, some of which are tabulated below, alongside their prices:
|Gilbert Stuart||Portrait of George Washington||$8.1 million|
|Asher B. Durand||Kindred Spirits||$35 million|
|Norman Rockwell||Rosie the Riveter||$4.9 million|
|Jasper Johns||Alphabets||$11 million|
|Andy Warhol||Hammer and Sickle||$3.4 million|
|Thomas Eakins||Portrait of Professor Benjamin H. Rand||$20 million|
Table Source: The New York Times And Forbes
Above mentioned data shows that the Walmart heiress has spent millions of dollars on arts. In 2017, she founded the Art Bridges Foundation to expand access to American arts nationwide, mainly in the remote countryside and small to mid-sized communities where museums often struggle.
Furthermore, the art lover has donated millions to the arts and other causes. For instance, in 2016, she donated 3.7 million of her Walmart shares to the Walton Family Foundation. She also donated $120 million to establish a School of Art to the University of Arkansas.
Lifestyle And Assets
Undoubtedly, the multi-billionaire lady has succeeded financially. Thanks to her wealth, Ms. Walton must be leading a comfortable lifestyle. Among Sam Walton's three surviving kids, Alice has been the least involved in Walmart's affairs, and despite attending the company's annual meeting, she is not on the board.
Instead, Walton spends most of her time at her home in Fort Worth, Texas. According to Insider, she loves to breed cutting horses and cooks her famous beans and rice for her ranch family. The talented personality has never had kids but often spoke fondly of her former horse trainer, Jesse Lennox.
Alice Walton spends most of her time at her house in Fort Worth, Texas. Image Source: Social Media.
Before shifting to Fort Worth, the philanthropist lived in a 3200-acre Texas ranch called The Rocking W Ranch. Initially, the Rocking W Ranch had an asking price of $19.75 million before being dropped to $16.5 million in 2020. Apart from that ranch, her other 4,416-acre Fortune Bend Ranch was listed on the market for $13.7 million. Likewise, in 2014, Alice purchased a two-floor condo on New York City's Park Avenue for $25 million.
Nevertheless, Alice is still active in her career and is doing great. So, Walton's riches are likely to ascend in the coming days. Hopefully, she will continue achieving more success in the forthcoming years.
Trivia And Facts
- Alice has been married twice in her life.
- She is an avid horse lover.
- Walton has also been active in political campaigns.
- She was arrested on the charge of driving while intoxicated in 2011.
- Her relative, Nancy Walton Laurie, owns a $300M worth Superyacht.