Everything’s bigger in Texas, including bank accounts- there are several well-known rich families in the DFW area. Today, there are nine different billionaires with personal wealth in excess of $1 billion in the city. But which of these wealthy families is the richest family in Dallas?
The Walton family is the richest family in Dallas. Their net worth is estimated to be over $130 billion. The Walton family has been able to amass so much wealth thanks to their investment in several retail companies, such as Walmart.
The Walton family has officially surpassed the other billionaire families in Dallas. For more on the Waltons, keep reading.
Who Are the Waltons?
Although you might not know the Walton’s by name, you’ve undoubtedly heard of their father and the family business, a little store called Walmart.
The Waltons are a family of three siblings who inherited billions of dollars from their father, Sam Walton, the founder of retail giant Walmart. The Waltons are the richest family in America, with a combined net worth of $170 billion.
Their wealth surpassed that of the squabbling Koch brothers, who have a $150 billion fortune, as well as Bill Gates and Warren Buffett. The Walton family fortune is also greater than the gross domestic product of many countries, including Denmark and Iran.
The seven siblings are:
- Rob Walton
- Jim Walton
- Alice Walton
- Ann Walton Krowe
- Christy Walton
- Helen Walton
The Walton family’s net worth is estimated to be over $130 billion, which makes this family even richer than the famous billionaire investor and philanthropist Warren Buffet.
The Walton family has been actively engaged in charity work. In 1989, they founded the Walton Family Foundation, which is a private charitable organization. The foundation is headquartered in Bentonville, Arkansas, and has an endowment of $15.1 billion as of 2018. The foundation has been very active in supporting education, health, and culture, and the arts.
The Walton Family Foundation supports education by funding the construction of schools, teacher training, and scholarships for disadvantaged students. The foundation also supports health by funding medical research, including the fight against breast cancer, and cultural and the arts by funding the arts and cultural organizations.
The Walton Family Foundation has also engaged in some controversial activities. The foundation has funded organizations that promote creationism, a religious belief that certain aspects of the natural world were created by God, and oppose the teaching of evolution in public schools.
The oldest of Sam Walton’s four children, Rob Walton, worked in the company’s Arkansas headquarters after attending Stanford University and serving a brief stint in the Army. While at Stanford, Jim Walton met a Brazilian exchange student named Helen Walton, who would later become his wife.
Rob and Jim Walton became the CEO and chairman of Walmart, respectively, after their father’s death. The company went public in 1970, meaning that Sam’s children received stock in the company that they would later be able to sell.
Alice Walton, the second-oldest Walton child, studied at Southern Arkansas University before moving to New York City to work as a contemporary art curator. She married the heir to the family that owned the Bass fishing tackle fortune, William “Bill” C. Walton. Alice, who had a passion for art, moved back to Arkansas, where she established the Crystal Bridges Museum of American Art.
As of 2018, the Walton family owns around 50% of Walmart, making them the largest individual shareholders.
The Waltons also own a variety of other companies, including:
- Arvest Bank
- Cabela’s Inc.
- Central Retail Corporation
- Cracker Barrel Old Country Store Inc.
- J. Crew Group Inc.
- Liquidation Partners, Inc.
- Mid-Continent Oil and Gas Company
- Oil States International, Inc.
With a net worth of $3.3 billion, Alice Walton is the richest heiress in Dallas. She inherited the bulk of her family’s fortune—and the Walton Family Foundation—from her father, Sam Walton, who founded the Walmart chain.
That’s one of the reasons why she lives in Bentonville, Arkansas, where her family owns a significant portion of Walmart stock and supplies. She also owns property in Dallas, including several homes and a condo in downtown Dallas as well as a stake in the city’s largest art collection.
With nine billionaires in the city, Dallas is well on its way to becoming the nation’s billionaire capital.
While we’ve only been tracking billionaires for a few years, the number of billionaires in Dallas has grown at a faster rate than in any other city in the past year. The city also has more billionaires per capita than any other city in America.
Texas is home to a number of wealthy families and billionaires, and there are a number of towns that are worth millions. These places have exquisite homes, amazing amenities, and a quality of life that most Americans only dream of. If you’re interested in buying a home in one of these cities, be prepared to spend around $1 million