They own the fucking company, commie.
The central finding of this report is simple: Our analysis of 23 years’ worth of the Walton Family Foundation’s tax returns shows that Rob, Jim, Alice and Christy Walton—the second generation Walmart heirs—have contributed almost none of their personal fortune to the foundation which bears their family name.
Specifically:
- Rob and Alice Walton made zero individual contributions to the Foundation during the 23 years we examined;
- Jim Walton made a single personal contribution of $3 million to the Walton Family Foundation, more than 15 years ago;
- Rob, Jim, and Alice Walton and the family holding company they control (Walton Enterprises) have been responsible for only .13% of all contributions to the Walton Family Foundation ($6.4 million);
- Among the second generation Walton heirs, it is the in-law, Christy, who has been responsible for the largest share of contributions to the Foundation;
- The four Walmart heirs and Walton Enterprises combined have been responsible for only 1.2% of all contributions to the Walton Family Foundation.
The combined lifetime contributions of the second generation Walmart heirs and their family holding company to the Walton Family Foundation come to $58.49 million, or:
■■ About .04% of the Waltons’ net worth of $139.9 billion;
■■ About .34% of the estimated $17.1 Billion in Walmart dividends that Rob, Jim, Alice and Christy received during the years we analyzed;
■■ Less than one week’s worth of the Walmart dividends the Waltons will receive this year;
■■ Less than the estimated value of Rob Walton’s collection of vintage sports cars.
The report goes on to detail how the Foundation has been funded over the years, namely by tax-avoiding trusts established with assets provided by the late Sam, Helen and John Walton or their estates. The study found that 99% of the Foundation’s contributions since 2008 have been channeled through 21 Charitable Lead Annuity Trusts. These CLATs, as they’re known, are specifically designed to help ultra-wealthy families avoid estate and gift taxes.
