6 Walmart Heirs Hold More Wealth Than 42% of Americans Combined
Everyone gets what they deserve, that’s my motto.
Of course the Walmart heirs have a lot of money. They’re fortunate enough to be the descendants of a man who got a $20,000 loan from his father-in-law, plus five grand he’d saved up in the army, bought a store, turned it via a lifetime of hard work into a retailing empire and left his estate to his family.
It’s a great American, Horatio Alger, rags-to-riches story. Meanwhile, 42 percent of Americans don’t work, don’t pay taxes and collect entitlement checks, and Mother Jones gives us the absolutely priceless information that they don’t have as much money as the Walmart heirs.
Sam Walton opened the first Walmart store in 1962. By 1980, Walmart had 276 stores, 21,000 employees and $1.248 billion in annual sales.
If, over the course of those 18 years — 1962-1980 — you or someone in your family had recognized a good thing when you saw it and bought some Walmart stock in 1980, every dollar you invested would now be worth . . . hang on, let me pull up Google Finance on my iPad . . . over $500! So $1,000 would get you $500,000 . . . $2,000 and you’d be a millionaire without working a day in your life.
Sam Walton is in heaven now. I’ll see the rest of you whiners in Hell . . .