ADVERTISEMENT

Meet Alice Walton: How America's wealthiest woman spends her Walmart fortune

Walmart heiress Alice Walton is an art collector and a horse breeder.

Alice Walton, the only female heiress to the Walmart fortune, is the richest woman in the US.

ADVERTISEMENT

The 67-year-old is worth an estimated $38.4 billion.

Walton briefly became the richest woman in the world following the death of Liliane Bettencourt, French heiress of cosmetics giant L'Oreal. Bettencourt's daughter, Françoise Bettencourt-Meyers, has taken the top spot, after inheriting the family's fortune.

That makes Walton the second-richest woman — and 19th richest person — in the world once again, according to Bloomberg.

ADVERTISEMENT

The three Walmart heirs have a combined wealth of $130 billion — about $48 billion more than the Kochs, the second richest family in the America.

Despite the Walton's high status, their personal lives remain largely private. Scroll through to find out what we know about how America's richest woman spends her fortune, from collecting expensive art to breeding horses.

Unlike her brothers, Rob and Jim, Alice has never taken an active role running Walmart and has instead become a patron of the arts. She fell in love with the arts at a young age. When she was 10, she bought her first work of art: a reproduction of a Picasso painting for $2.

Source:

She has an immense private art collection, with original works from legendary American artists, Andy Warhol, Norman Rockwell, and Georgia O'Keefe.

ADVERTISEMENT

Source:

Alice opened a $50 million museum called Crystal Bridges in 2011 to house her $500 million private art collection. When it opened, it had four times the endowment of the famous Whitney Museum in New York.

Source:

In 2014, she spent $44.4 million on a Georgia O'Keefe. It was the most expensive work of art by a woman that's ever been sold. "Collecting has been such a joy, and such an important part of my life in terms of seeing art, and loving it,” Alice previously told the New Yorker.

Source:

ADVERTISEMENT

Alice is also a breeder of horses. Her Millsap, Texas, property, Rocking W Ranch, recently sold for an undisclosed amount. It had an initial asking price of $19.75 million, but was most recently listed for $16.5 million. The working ranch has over 250 acres of pasture and outbuildings for cattle and horses.

Source:

Her other 4,416-acre Texas ranch is currently listed at a reduced $22 million. The modest three-bedroom, two-bath home overlooks a river.

Source:

Alice also owns a two-floor condo on New York's Park Avenue. She bought the property for $25 million in 2014. It has over 52 large windows overlooking Central Park and the city, a media room, and over 6,000 square feet of space.

ADVERTISEMENT

Despite hailing from a largely Republican family, Alice donated $353,400 to the Hillary Victory Fund, a joint fundraising committee supporting Clinton and other Democrats, in 2016. The two women met while Clinton was serving as First Lady of Arkansas and was the only woman sitting on Walmart's board.

Source:

In January 2016, Alice donated 3.7 million of her Walmart shares — worth about $225 million at the time — to the family's nonprofit, the Walton Family Foundation. The charity most recently gifted $120 million to the University of Arkansas to establish a School of Art.

Source: ,

Despite attempts to spend her fortune quietly, Alice became the target of pushback a few years ago from minimum-wage Walmart employees who view her lifestyle as insensitive and ignorant to the plights of many workers.

ADVERTISEMENT

Source:

FOLLOW BUSINESS INSIDER AFRICA

Unblock notifications in browser settings.
ADVERTISEMENT

Recommended articles

Africa’s richest man Dangote stands between Europe and $17 billion in revenue

Africa’s richest man Dangote stands between Europe and $17 billion in revenue

After months of exchanging blows, Kenya and Uganda takes steps towards resolution

After months of exchanging blows, Kenya and Uganda takes steps towards resolution

Africa's first black billionaire could join $2.9 billion Vivendi bid for MultiChoice

Africa's first black billionaire could join $2.9 billion Vivendi bid for MultiChoice

10 most dangerous African countries in 2024

10 most dangerous African countries in 2024

Russia’s nuclear influence expands further north of Africa

Russia’s nuclear influence expands further north of Africa

Navigating the future: How AI transforms selling on Amazon

Navigating the future: How AI transforms selling on Amazon

Wall decor tips: Transforming your space with style and creativity

Wall decor tips: Transforming your space with style and creativity

Putin's African diplomacy: Security talks with West, Central Africa take centre stage

Putin's African diplomacy: Security talks with West, Central Africa take centre stage

Infinix users get over 35% exclusive discount on Showmax premier league & general entertainment subscription

Infinix users get over 35% exclusive discount on Showmax premier league & general entertainment subscription

ADVERTISEMENT