How Alice Walton Ascended To Become World's Richest Woman

Alice Walton, the billionaire heiress to the American supermarket chain Walmart, has been named the World's Richest Woman as her fortune soared beyond $95 billion in early September 2024. She dethroned Francoise Bettencourt Meyers of the L'Oréal cosmetics giant as her net worth saw a $25 billion spike this year. This was marked by a 44% increase in Walmart's stock prices, according to the Bloomberg Billionaire Index. Walton is reportedly the only woman in the Walton family to claim the Walmart fortune.

The Walmart Empire

Walmart Inc. is a retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. The empire started small, as a supermarket in Rogers, Arkansas, founded by brothers Sam and Bud Walton to offer quality products at attractive prices.

Today, Walmart is one of the most recognisable retailers worldwide, with hundreds of stores across the United States and 23 other countries. The company's history exemplifies a journey of strategic innovation and customer-centric growth, which transformed the retail industry.

Who Is Alice Walton?

Alice Walton was born on October 7, 1949, as the only daughter of Sam and Helen Walton. She has three brothers, Rob, Jim, and John Walton, who are all active parts of the Walmart Board. She pursued a Bachelor of Arts in Economics from Trinity University in San Antonio, Texas. 

Walton's career started as an equity analyst and money manager for First Commerce Corporation. She then worked as a broker at EF Hutton. In 1988, she founded Llama Company, an investment bank where she was president, chairperson, and CEO before it closed 10 years later.

Art And Charity

Apart from business, Walton is also a philanthropist and an art aficionado. She has invested in several significant masterpieces for her collection. Her first art purchase was the Blue Nude by Pablo Picasso, which she bought when she was just ten, using her allowance for five weeks.

Watson's first museum-quality artwork purchase was two Winslow Homer watercolours in the late 1980s. In 2011, Wanton established the Crystal Bridges Museum of American Art in Bentonville, Arkansas, showcasing an impressive collection of American masterpieces. 

For Watson, art has been more than just a visual pleasure. She bid on valuable pieces at auctions for charity and also procured works that helped her in her journey to self-growth. She bought several artworks that depicted women with cigarettes in her attempt to quit smoking.

Also in 2017, Walton formed the Art Bridges Foundation, which provides funding, collection loans and travelling exhibits, and creates art programs with small and regional museums with less cultural resources. Walton has said her goal is to reduce the amount of art kept in storage.

Other Contributions

While not a political figure herself, Walton has contributed to many US electoral campaigns. During the U.S. presidential election in 2004, she $2.6 million to the conservative Progress for America group. In 2016, she donated $353,400 to the Hillary Victory Fund, supporting Democrats.

Walton has also made significant contributions to healthcare. In 2019, she established the Whole Health Institute, which works to expand access to 'holistic healthcare'. In 2021, she announced the establishment of a nonprofit medical school in Bentonville called the Alice L. Walton School of Medicine.

Life Beyond Work

Walton is also passionate about horses and racing. According to the Kansas City Star, she was once known for having an eye for determining which two-month-olds would grow to be champion cutters. In 1998, she moved to a ranch in Millsap, Texas, named Walton's Rocking W Ranch for a few years.

While Walton has not been an active member of Walmart Inc. like her brothers, the Walton family's stake has led her to become the World's Richest Woman. As she carries her family's legacy, Alice Walton continues to focus on her personal passions and broaden her impact in numerous fields.