Walmart Better Than Amazon This Year On The Stock Market. Here’s Why
Old economy to the rescue with Walmart shares at an all-time high, up 47% in a year, which allowed Alice Waltonthe only daughter of founder Sam who died in 1992, to become the richest woman in the world. Walton, who has a net worth valued at 89 billion dollars, beat the heiress of L’Oreal, the French François Bettencourt, who last June became the first woman to surpass $100 billion in assets, now scaled down, so to speak, to $88 billion.
Walmart, the largest US department store chain, has even beaten the stock market this year Amazon whose title, after years of galloping, has only grown by 16%. Coca Cola also records a positive balance, plus 17% since the beginning of the year. Nothing to do with the tech title par excellence, namely the chip manufacturer Nvidia, which since the beginning of the year has recorded a plus 108% but which in the last month, thanks to investors’ concern about the possible halt in the growth of artificial intelligence, has fallen by 12%.
As for the Walton family, the growth in shares has brought Alice, 74, to 18th place in the Forbes ranking of the richest people in the world, behind her brother Bob. In recent days Alice Walton has sold shares worth around 700 million dollars. A move that is certainly not unexpected considering that in the last 10 years the family Walton sold $22 billion worth of stock. Despite this, Sam Walton’s heirs still own nearly 46% of the company through share buybacks. Alice has also increased her philanthropic activity over the past decade, contributing more than $5.7 billion to five family charitable foundations.
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