Alice Walton, Walmart’s heiress, has surpassed Françoise Bettencourt Meyers, L’Oréal’s heiress, as the wealthiest woman in the world.
Walton, the co-manager of Walton Enterprises, has seen her net worth climb to $96.6 billion, according to Bloomberg’s Billionaire Index. She has seen her net worth shoot up a whopping $26.6 billion over the past year.
The drastic change in Walton’s net worth is due to Walmart’s recent surge in the stock market. Its value increased by about 42 percent over the past year. As a result, Walton’s brothers have also seen a meteoric rise in their net worth.
DA Davidson analyst Michael Baker told CNN, “The only places anyone is shopping right now are Amazon, Walmart, and Costco.”
Alice Walton’s philanthropy
Alice Walton inherited a large fortune following her father’s death, Sam Walton, in 1992. While her brothers are active in Walmart’s operations, Alice Walton has chosen to focus on the arts, medicine, and philanthropic pursuits.
Her philanthropy has mainly been focused on her hometown of Bentonville, Arkansas. Walton’s investment in the city’s culture, among other things, has increased its standing within the United States. She established the Crystal Bridges Museum of American Art in Bentonville.
As the name suggests, the museum houses American art from some of America’s most famous artists. Works from Andy Warhol, Norman Rockwell, and Georgia O’Keefe can all be viewed in the museum’s galleries.
Alice Walton’s philanthropic pursuits have also led her into medicine. In 2021, she founded the Alice L. Walton School of Medicine. The school is a non-profit four-year program that, if accredited, will become a medical facility focused on “physical, mental, emotional, and social health,” according to the AWSOM website. The school hopes to open its doors to students in 2025.
The future of Alice Walton’s value
Being less than $4 billion away from a net worth of $100 billion, Alice Walton could become the first woman in history to reach centi-billionaire status. While it is certainly possible, it all depends on Walmart’s value.
The company’s recent success can be attributed to its adaptation to the modern world, shifting its focus to e-commerce and starting an international expansion. The good news is that the increase in stock value signals investor confidence despite universal economic concerns. This means that Walmart could see steady growth despite the gloomy conditions that surround it.
While Walton’s monetary value is tied to Walmart, her contributions to society are not. Whatever number her net worth has been valued at, Walton has used her wealth for the betterment of others and for the improvement of the town in which she was raised.
