(TB&P) — Heirs of the Walmart fortune continue to downsize their individual holdings in the company founded by their parents Helen and Sam Walton. Within one family trust, heirs Alice Jim and Rob Walton still own roughly one-half of the outstanding shares of Walmart Inc. The family has said it plans to keep those holdings close to 50%, selling as needed to maintain that balance.
But individually, the heirs continue to reduce holdings and increase gifts to charity. Jim Walton, 71, who resides in Northwest Arkansas with his wife Lynne, recently gifted $1.2 billion of Walmart stock to an unnamed charity, according to a filing with the U.S. Securities & Exchange Commission. Walton is the chairman of Arvest Bank.
In years past, he has made large gifts to the Walton Family Foundation totaling a reported $2 billion between 2008 and 2013. The Walton Family Foundation supports hundreds of charities in Arkansas and across the country.
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