Meet world's richest family with more wealth than Elon Musk, Mukesh Ambani, runs largest...; net worth is Rs...

Several top companies in the world started from scratch. Their founders and families are now among the richest people in the world today. In this article, we will tell you about one such family that began a humble retail venture and today has evolved into a global giant. They have even more wealth than the world's richest person, Elon Musk, and Asia's richest, Mukesh Ambani. The name is the Walton family, heirs to the Walmart retail empire, which was founded by Sam Walton in 1962. Today, Walmart has a market cap of USD 752.47 billion.

The Waltons are the richest family in the world today due to their stake in Walmart, the world's largest retailer by sales. They officially retained their title with a collective net worth of USD 432 billion, as per a TOI report, quoting Bloomberg. Walton's stake in the company is held by the families of seven heirs of founders Sam Walton and his brother Bud. Sam passed away in 1992 at age 72, and his brother Bud died three years later in 1995.

The family's fortune is enhanced by the seven sports teams owned by Stan Kroenke, husband of Ann Walton Kroenke. Despite their riches, the family keeps a relatively low profile. Heirs include Sam's three living children -- Rob, Jim and Alice -- his daughter-in-law Christy and her son Lukas, plus Bud's two daughters, Ann and Nancy. Despite having a whopping wealth, the family keeps a relatively low profile.

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Who was Sam Walton, the founder of Walmart?

Born in a small farming family, Sam Walton started shops selling cheap and good goods. Sam did small jobs like distributing newspapers, selling milk and selling magazines before Walmart. Walton opened the first Walmart store in Rogers, AR. By 1969, the company was officially incorporated and registering USD 12.7 billion in sales. By the late 80s, Walmart had 276 stores and employed over 21,000 associates. He studied economics at the University of Missouri in 1940 and then started working in a retail company called JCPenney. In 1992, Sam Walton died of cancer at the age of 74.