Despite 4 of the top-ten spots for richest Americans going to Waltons, they've donated next to nothing to charity...
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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;
â– â– 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.
- 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;
â– â– 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.
Furthermore they're charitable foundation is simply a tool for evading taxes....
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The Walmart heirs have built one of the largest and most powerful private foundations in the country—at almost no cost to themselves. They have done so with the assistance of financial experts who manage the family holding company, Walton Enterprises, and the Walton Family Foundation with a keen eye toward maximizing the family’s wealth. In addition, the Waltons are exploiting complex loopholes in the tax code in order to avoid billions of dollars in estate taxes by funding their Foundation with special trusts.â€
The Walmart Corp recently dropped 30,000 employees from the rolls of those eligible to receive health insurance. Yet they offer up affordable health care for the insured at their super-store.
I bought tires and three bottles of wine from Sam's Club last month. I'm feeling kind of guilty about that now.