Walmart Heir Is Way Less Rich Than Anyone Knew

But still not, you know, poor poor
By Michael Harthorne,  Newser Staff
Suggested by Bulls-Eye
Posted Nov 6, 2015 4:38 PM CST
Walmart Heir Is Way Less Rich Than Anyone Knew

It turns out the woman once thought to be America's richest female isn't all that rich after all. But don't feel too bad for her; she still has more money than most of us will ever see. It was long assumed Christy Walton was worth approximately $32 billion after receiving the bulk of her husband John Walton's substantial estate when the Walmart heir (one of the four children of Walmart founder Sam Walton) died in a plane crash 10 years ago, Bloomberg reports. But the news outlet did some sleuthing—requesting access to records sealed at the request of the family following John's death—and uncovered what it calls a "closely guarded family secret." That secret? The actual distribution of John Walton's estate.

Bloomberg reports John actually gave half of his estate to charitable trusts and another third of it to his son Lukas Walton. That leaves Christy with only about one-sixth of her husband's estate—or approximately $5 billion, Fortune reports. That $27 billion drop moves her far out of competition for the richest woman in America, a title currently held by her sister-in-law Alice Walton, another one of Sam Walton's four kids, who is worth an estimated $28.3 billion. However, the revelation does bump Christy Walton's son up to the 103rd richest person in the world with approximately $11 billion. The 29-year-old Lukas keeps a low profile and little is known about him, Bloomberg reports. “Lukas Walton is an entrepreneur involved in a variety of investment and philanthropic activities,” a Walton family spokesperson says. (Read more billionaire stories.)

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