ALICE WALTON, RICHEST WOMAN IN THE WORLD IN 2020
Alice Walton, the only female heiress of the fortune of Walmart, richest woman in the world as per Forbes in the year 2020, and worth US$54.9 billion as of June 2020.
She is the daughter of the founder of Walmart, Sam Walton who in 1962 founded a brand that today is known as American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores, headquartered in Bentonville, Arkansas. The fortune of Walmart has made the Walton family one of the richest family in America as shareholders of the company.
So, it is not to a shock that Alice Walton is the richest woman in the world as she has also been a part of the richest in the family obviously after the other heirs of Walmart for years. But Alice is not only been in the news because of her family but also because of her interests and infamous acts as well. Here are some of the facets of Alice Walton’s life:
ALICE WALTON FAMILY & FAMILY BUSINESS
Walton family is one of the richest families in the world, Alice Walton along with her brother owns more than 50% of Walmart which contributes to her income. This inherited income which she has further invested in horses, art, and other interests, was not the first plan of action for her as she did not join the family business after graduating.
She worked at First Commerce Group as an equity analyst, worked as a broker for E.F. Hutton, started an investment bank in 1988 but it soon folded with the decline in the market the following year and she is the Vice-Chairperson for Arvest Bank Group.
ALICE WALTON, THE SERIOUS CUTTLER WITH CHAMPION HORSES
Alice Walton’s lifelong passion for cutting horses, a sport-focused on breeding champion horses, has been known to the world since decades. The richest woman in the world spent a good amount of her Walmart fortune and decades of her life owning two extremely beautifully ranches with over hundreds of champion cutters.
However, in 2015, she went on to sell these horses to bring potential buyers to her 1400 acre ranch in the Brazos River which she sold along with her Rocking W Ranch in Millsap as she planned to move. She moved to Fort Worth, where she also has a house, and turn her attention to other priorities, including the Crystal Bridges Museum of American Art in Bentonville, Ark., which opened in 2011.
ALICE WALTON AND HER LOVE FOR ART
The only daughter of Sam Walton and the only female heir of the Walmart fortune, Alice Walton’s another passion is indeed art. She is the richest woman in the world to ever catch an art bug which she transformed into a career. From being a modest collector of art, she entered the art world in 2011 as she poured over $1.2 billion from the Walton Family Foundation and founded Crystal Bridges Museum of American Art in Bentonville, Arkansas, also home to Walmart’s corporate headquarters.
The museum with stunning verdant setting and an art collection worth upwards of $500 million has been in the headlines for buying works by the likes of Georgia O’Keeffe and Andy Warhol to the city of 51,000 and Alice Walton was awarded the Getty Medal in February for her contributions to the field.
ALICE WALTON’S INFAMOUS ACCIDENTS AND ARREST
While she is recognised as the richest woman in the world in 2020, Alice Walton has been part of the richest people in America list for years and her life ha been a controversy-filled one. She is infamous for her over the top investments in art, controversial political campaigns which have angered some, and car accidents.
In 1989, while speeding in Arkansas she hit Oleta Harden, a 50-year-old cannery worker who later died of her injury. In 1998, she totalled her SUV in Springdale, Arkansas when she hit a gas meter and a phone booth. She was charged for driving under the influence of alcohol.
ALICE WALTON AND WALMART EMPLOYEES DISCONTENT
Walmart employees are very content with the Walton families wealth and how they choose to spend it while they receive low pay. While Alice received billions in dividends from Walmart shares, she faced a truckload of outrage from the minimum wage workers at Walmart while she continued living a high-end lifestyle.
Her more than one accidents caused due to alcohol which she managed to have gotten out of with merely relatively small fines for the richest woman in the world, at least America at point of time, is an example of her lifestyle and why Walmart came under scrutiny for her small wages to workers.
KEEPING THE PERSONA PRIVATE
Despite her controversial issues, Alice Walton managed to keep her persona mostly personal and private. Although she has been criticized by many for living her life of privilege and use her wealth, Alice Walton remains a key factor in the Walton family’s philanthropic ventures which supports education, economics and the environment