Samuel Robson Walton
The oldest son of Wal-Mart founder Sam Walton has been chairman of the world's largest retailer since his father's death in 1992. With his two surviving siblings, Walton is a co-managing member of Walton Enterprises, the family's holding company that controls a 47 percent stake in Wal-Mart. Rob Walton personally owns about 339 million shares.
Greg Penner, the grandson-in-law of Wal-Mart Stores Inc. founder Sam Walton, became heir apparent to the chairman role today after spending almost a decade investing the family’s money as head of a venture firm in Silicon Valley.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Wal-Mart Stores Inc. has long faced opposition to its attempts to break into the lending business. So the retailer’s founding family has found another way to get credit to many of its customers -- Progress Financial Corp.
In 2003, Luis Amaral bought Eurocash SA, a Warsaw-based grocery business, for 120 million Polish zlotys ($30 million). The operation was losing money. Competitors were taking market share. Its owner, Jeronimo Martins SGPS SA, the Lisbon-based retail operation controlled by billionaire Alexandre Soares Dos Santos, wanted nothing to do with it.
Dec. 10 (Bloomberg) -- Inspired by a post on the website Above the Law, we asked our Bloomberg Billionaires Index colleagues to research the wealthiest lawyers in America.* None of their fortunes are from practicing law: Robert Rowling is number 5. He briefly practiced tax law before joining his father's oil and gas company. Number 4 is Randa Duncan Williams, daughter of oil billionaire Dan Duncan. New York's Richard LeFrak is number 3. He went into the family real estate business after law school. Number 2 is Richard Kinder. He practiced law in Houston, then joined his friend Ken Lay at Enron. And number 1 is Rob Walton, chairman of Wal-Mart. *Net worth as of November 16, 2012 (Source: Bloomberg)