Alice Walton becomes world’s richest woman in October 2023

Alice Walton, the only daughter of Walmart founder Sam Walton, has become the world's wealthiest woman as of October 2023, surpassing French heiress Francoise Bettencourt Meyers. This shift in wealth rankings occurred due to a significant increase in Walmart's stock price, which has risen 47% year to date, while L'Oreal's stock has declined by 13%. Walton's estimated fortune stands at $89.1 billion, while Meyers' is at $88.4 billion. Despite having sold over $22 billion in Walmart stock over the past decade and donating more than $11 billion in shares, the Walton family retains a substantial stake in the company, owning nearly 46% of it. This is largely due to stock buybacks that have maintained their ownership levels. Alice Walton now ranks as the 18th richest person globally, just behind her brother Rob Walton, who is worth $95.9 billion. Alice Walton has a diverse background, having briefly worked at Walmart before dedicating her efforts to the arts. She founded the Crystal Bridges Museum of American Art in Bentonville, Arkansas, which opened in 2011, and has been involved in philanthropy, contributing over $5.7 billion to various charitable foundations. Her Art Bridges Foundation has notably invested in American art, benefiting over 230 museums since its inception in 2016. Looking ahead, Walton is focusing on her new Alice L. Walton School of Medicine, set to welcome its first class in 2025. This initiative reflects her commitment to health and well-being, alongside her ongoing involvement in the arts, as she transitions from her role at Crystal Bridges to concentrate on these new ventures.