Walmart stock price drop causes Walton family to lose approximately $34 billion in just two days

As Walmart stock continues to fall, the Walton family’s fortune has plummeted by roughly $34 billion in just two days. According to Forbes, the late Sam Walton’s retail behemoth is facing higher transportation expenses, among other things. As a result, Walmart’s quarterly net income through April is 25% lower than it was at the same time last year. Earnings per share have also fallen well short of analyst expectations.

Investors have responded negatively to the issue, with shares of the retailer falling 11.4% on Tuesday and 7% on Wednesday. The Forbes report shows that Walmart’s decline on Tuesday was the biggest single-day drop since 1987. Walmart CEO Doug McMillon stated, “Our first-quarter performance is a disappointment to us, and we’re going to put it behind us and have a strong year.”

The Walton children, Jim, Rob, and Alice, each lost about $9 billion, making them the most impacted by the downturn. Other members of the Walton family were hit by the drop, each losing more than $1 billion. However, the Walton family’s entire net worth is still projected to be around $212 billion as of Wednesday.

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