Spoiled-rotten Walton heirs own as much wealth as bottom 30 percent of Americans
Friday, December 9, 2011 at 11:40AM
What is wrong with this picture:
The six children of Walmart's founders, Sam and James "Bud" Walton, had the same net worth in 2007 as the entire bottom 30 percent of American earners, according to an analysis from Sylvia Allegretto, a labor economist at University of California-Berkeley's Center on Wage and Employment Dynamics.
Though the 2007 figure is striking, the gap between the Walmart heirs and the rest of the country may get even bigger -- the Walton's combined fortune has grown by more than $20 billion, according to data compiled from the Forbes 400 this year.
Nothing is wrong, smart-ass.
1. Walmart is a job creator.
2. By 2012, the Walton Six will control as much riches as half of all working Americans -- say, 125 million.
3. Those Walton kids have kids. They need toys, too.
3. Wealth acquisition is like the board game Risk. Once you own everything, the game is over.
That is the American way. Oh, and thank you for shopping at Walmart.
