According to Bloomberg, with a fortune estimated at $ 238 billion, the Walton family, which owns the Walmart retail chain, is the richest in the world. They are now diversifying their business to start trading cryptocurrencies.
The Walton family finance company has increased its stake in the U.S. Municipal Bond Fund and added a large portion of Japanese stock to its fortune. "An investment firm for the Walton family ramped up its position in a U.S.
municipal bond fund and added a sizable stake in Japanese equities, while also betting on small-cap stocks and Coinbase" tweeted Bloomberg.
The Walton Investment Team (WIT) invests mainly in cheaply traded funds that are traded on the stock exchange.
An investment firm for the Walton family ramped up its position in a U.S. municipal bond fund and added a sizable stake in Japanese equities, while also betting on small-cap stocks and Coinbase https://t.co/5cqJ2lKVOu — Bloomberg (@business) May 14, 2022
The company has owned about $ 5.1 billion in U.S. stocks since 2021, as confirmed by a report they submitted to the Securities and Exchange Commission two days ago. The WIT Group oversees the cash flows of the world's most prosperous family and has additionally bought about $ 150 million in small-cap stocks on their behalf through new positions in Vanguard and iShares index funds.
That is confirmed by A representative for Walton Enterprises. According to Dele Butler's Linkedin profile, the WIT’s primary contact, she “advises and supports the family’s growing investment and transaction activity”.
Vanguard has the largest holdings in debt funds.
The Walton family bought additional shares as revenue will rise after the Federal Reserve announced an increase in interest rates. WIT has bought an additional $ 15 million worth of cryptocurrency Coinbase, whose shares have weakened since late March.
The Walton family’s fortune is estimated at $ 238 billion, and about half of that is tied to the Walmart retail chain, a company founded in 1950 by Sam Walton. The Securities and Exchange Commission guidelines require agencies that manage U.S. stocks in excess of $ 100 million to disclose the sources of their holdings.