The Waltons, owners of Walmart and It is considered the richest family in the worldlost nearly $19 billion on Tuesday after the retailer announced a cut in its earnings forecast.
Walmart stock fell 11% on the New York Stock Exchange after the company reported earnings that missed analyst estimates. It’s the biggest drop since 1987.
Higher inflation put more pressure on its profit margins in the first quarter, so that’s likely to happen Profits are reduced About 1% this year, according to a company statement.
First-quarter adjusted earnings fell to $1.30 per share, less than 29 analyst expectations. Bloomberg.
According to Bloomberg, the late family patriarch, Sam Walton, focused work around the antagonist’s spirit In times of recession It helped boost its stock during downturns.
She now owns just under half of the stock from her children Alice, Jim and Rob, daughter-in-law Kristi, and son Kristi Lucas.
together they have With a combined net worth of approximately $212 billionAccording to the Bloomberg Billionaires Index.
The family has increased its share sales in recent years: The disposal of stock worth $ 6.2 billion last yearwhich the company says is part of a strategy to keep the family stake below 50% amid buybacks.
Those rulings helped the Walton family great fortune Out of his participation at Walmart.
Rob Walton is said to be bidding for the Denver Broncos, the first NFL team to be offered for sale in four years. It is expected to sell for more than $4 billion.
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