Alice Walton, the daughter of Walmart founder Sam Walton, has officially surpassed Françoise Bettencourt Meyers to become the richest woman in the world in 2024. According to Bloomberg's Billionaires Index, Walton's net worth has soared to an astounding $95 billion, making her the first female centi-billionaire in history. This impressive milestone is largely attributed to the significant increase in Walmart's stock price, which has risen by 44% this year, adding $25 billion to Walton's wealth.
Who Is Alice Walton?
Alice Walton was born on October 7, 1949, in Newport, Arkansas, into a family that would revolutionise retail. Her father, Sam Walton, established Walmart, now the largest retailer in the world. Alice grew up in a family with strong business acumen, and though she has not taken an active role in the day-to-day operations of Walmart, she has carved out a unique path that reflects her interests and passions.
Alice earned a Bachelor of Arts in Economics from Trinity University in San Antonio, Texas, which laid the groundwork for her early career in finance. She began her professional journey at First Commerce Corporation and Arvest Bank Group, where she worked as an equity analyst and money manager. Later, she transitioned to a role as a broker at EF Hutton, further honing her financial expertise. In 1988, Alice founded Llama Company, an investment bank where she served as CEO, president, and chairwoman, demonstrating her entrepreneurial spirit.
Life After Sam Walton: A Focus on Art and Medicine
Following the death of her father in 1992, Alice inherited a substantial portion of the Walton family fortune. Unlike her brothers, Rob and Jim, who are actively involved in Walmart's operations, Alice chose to focus on her personal passions, particularly in the arts and philanthropy.
Alice's love for art led her to establish the Crystal Bridges Museum of American Art in Bentonville, Arkansas, in 2011. The museum, which has garnered national acclaim, features an impressive collection of American art, including works by renowned artists such as Andy Warhol, Norman Rockwell, and Mark Rothko. The museum serves as a cultural landmark in her hometown and reflects her commitment to making art accessible to the public.
In addition to her contributions to the arts, Alice Walton has also made significant strides in the field of healthcare. In 2021, she founded the Alice L. Walton School of Medicine (AWSOM) in Bentonville, which was renamed in 2022. AWSOM is a nonprofit, four-year MD program that integrates traditional medical education with principles of the humanities, arts, and wellness. The school aims to provide a holistic approach to healthcare education, focusing on the physical, mental, emotional, and social health of patients. The institution is set to become a national hub for medical education, attracting some of the most brilliant minds in the medical and scientific communities.
Challenges and Future Outlook
As Alice Walton continues to amass wealth, her focus remains on expanding her philanthropic initiatives. The success of Walmart continues to be a significant driver of her fortune, but her legacy will likely be defined by her contributions to the arts and healthcare. With a net worth of $95 billion, Walton's financial power positions her to make an even greater impact in the years to come.
