Forbes 400 Richest: Don't Feel Sorry For Waltons
The list of Forbes 400 Richest Americans is out. Much is being made (on our network as well) about the fact that the family members of Wal-Mart founder Sam Walton are not in the top ten rankings of the richest Americans. This is the first time that the Walton's have not been in the top ten since 1989.
PLEASE do not read into this listing too much. While Wal-mart shares have had a tough year and the Walton family controls 38% of outstanding shares but the combined personal fortunes of the family members total $65,000,000,000 (back of the envelope math based on Forbes' listing.) That's nothing to sneeze at.
Four of the family members are in the top 15. In fact, Christy Walton & family ($16.3 billion), Jim Walton ($16.3 billion), Wal-Mart Chairman of the Board S. Robson Walton ($16.3 billion) and Alice Walton ($16.1 billion) all make up the 12-15 top rankings.
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