With everyone focused on the Kochs (Tied #5 on Forbes' Wealthiest Americans) and to a lesser extent Gates (#1 on Forbes' Wealthiest Americans), I 've wanted to revisit the Walton family who fill slots #4, #7, #8 and #9 of the Forbes Top Ten.
Fourth-richest American Christy Walton excepted (she is widow of Sam Walton's son John who died flying a lawnmotor in 2005), Jim Walton, Alice Walton and Rob Walton learned the family business and rightwing ideology at the knee of Sam in northwest Arkansas. Although Sam put Hillary Clinton on the Wal-mart board at one time, it was all about then-Gov Bill Clinton and less so about Hillary. One can search the Walton clan's political giving (overwhelmingly Republican) or activities of the Walton Family Foundation (school vouchers, privatization, ALEC, State Policy Network) to measure their true ideological position.
Rob Walton is still the Chairman of the Board of Wal-mart. The Walton family cumulatively holds 1.7 billion shares of WMT (approx. 45% of the total 3.75 billion outstanding shares as of 3/31/10.) The Wal-mart Corporation just gave Rob and the family a huge dividend gain. And thanks to Obama's dividend tax giveaway, this gain got supercharged. Instead of thanking Obama, however, this windfall will now go into the Walton's right wing war against the President and everything he wants to achieve. Exactly how much below the fold.
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