Monday, December 12, 2011
Jim, Alice and Rob Walton
6=90,000,000. That’s the equation of inequality between half a dozen Wal-Mart heirs and 90 million Americans.
Using 2007 data from the Federal Reserve, Sylvia Allegretto, deputy chair of the Center on Wage and Employment Dynamics at the University of California-Berkeley, determined the wealth of just six members of the Walton family, which controls Wal-Mart, is equal to all of the money held by the bottom 30% of U.S. society (or about 90 million people).
The total net worth of the six Waltons in 2007 was $69.7 billion.
-Noel Brinkerhoff
The Insane Wealth of Walmart’s Founding Family (by Justin Elliott, Salon)
The Few, the Proud, the Very Rich (by Sylvia Allegretto, Berkeley Blog)
Upset about the Richest 1%? The Top .000003% Own $25 Trillion (by David Wallechinsky and Noel Brinkerhoff, AllGov)
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