This‌ ‌Wealthy‌ ‌Texas‌ ‌Resident‌ ‌is‌ ‌Worth‌ ‌Billions‌ ‌but‌ ‌Workers‌ ‌Earn $12‌ ‌an‌ ‌Hour‌

Tom Handy

If you’re thinking this was about Elon Musk, then you are not correct. The other Texas billionaire lives close to Dallas and is a Fort Worth Texas resident. Alice Walton is the richest in the Walton family which owns Walmart that is in just about every major city.

The 2020 pandemic hurt many people and depleted their wealth but Alice Walton saw her net worth increase in the past year. This Walton billionaire’s fortune increased by $23 billion in the past year. This was mostly due to her stock price which appreciated.

Walmart stock (WMT) increased from $116.38 in January 2020 to its current price of $137.05.

Sam Walton opened the first Walmart store in 1962. Today, there are 602 Walmarts in Texas and 5,342 stores in the United States.

Overall the Waltons control 1.3 billion in Walmart stock. Even though they liquidated $6 billion in Walmart stock, they are worth more now than in 2020.

Elon Musk is the richest person in Texas with more than $200 billion and Alice Walton follows in second as the richest person in the Lone Star state with $61.9 billion.

Vermont state Senator Bernie Sanders said the Waltons were “the poster child for greed”. Walmart recently raised the minimum wage for hourly workers to $12 from #11.

Before the minimum wage increase, Bernie Sanders said, “This is a family that is incredibly wealthy.”

One of their owners spend[s] zillions of dollars on antique cars. They’ve got mansions. They have all kinds of art collections. But somehow or another they can’t pay their starting wage at more than 11 bucks an hour.”

In the Dallas-Worth Worth area, the average hourly wage is $27.01. In Dallas, the highest concentrated area for workers was in these fields, office and administrative support, computer and mathematical, and transportation and material moving.

Alice Walton is actually the “poorest” of the Waltons. Her brothers have a bigger stake. Jim has $63.7 billion and Rob has $63.3 billion.

She is not as active in Walmart as her brothers as she spends time in the arts. In 2013, Alice opened the Crystal Bridges Museum of American Art in her hometown of Bentonville, Arkansas. She spends about 10 days a month in Bentonville and is there for every opening of an exhibit.

Do you shop at Walmart?

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