Alice Walton, the world’s wealthiest woman, and her brother Jim Walton have experienced a significant decline in their collective net worth, losing $5.4 billion as Walmart Inc. shares dropped in value.
According to Forbes’ real-time billionaire rankings, both siblings lost $2.7 billion each, bringing Alice’s fortune to $101.2 billion and Jim’s to $108.9 billion.
This drop comes after Walmart’s stock fell 3.09%, closing at $91.72 per share on March 7.
Despite Walmart’s strong long-term performance, the decline is attributed to investor concerns over narrowing profit margins and changing consumer spending patterns.
While Walmart has outperformed the retail supermarket industry in the past year with a 59.3% stock rise compared to the industry’s 55.6%, the company faces challenges such as currency headwinds and a shift in its product mix.
The Walton siblings, heirs to Walmart’s empire founded by their father, Sam Walton in 1962, continue to hold substantial influence over the company, collectively controlling 45% of Walmart’s stock.
Alice, who is deeply involved in philanthropy and the arts, and Jim, who oversees Arvest Bank Group, remain among the wealthiest families globally, with their fortunes tied to Walmart’s success.
