- The Waltons are the the world's richest family, and five of them own just under half of Walmart.
- They lost a combined $19 billion on Tuesday after Walmart posted disappointing quarterly results, Bloomberg reported.
- The group is worth about $212 billion, according to the Bloomberg Billionaires Index.
Every now and again, it's a tough day at the family business.
The Walton family, which controls Walmart, lost almost $19 billion on Tuesday as Walmart's stock slumped, Bloomberg reported Tuesday.
Walmart reported earnings on Tuesday, missing Wall Street's quarterly profit expectations. The company's stock fell 11.4%, making it the biggest slump in almost 35 years, Bloomberg reported.
Brett Biggs, Walmart's CFO, told CNBC the tough quarter had to do with factors including overstaffing caused because of over-hiring when employees got COVID, inventory issues, and fuel prices.
Inflation's impact on consumers is affecting Walmart, too.
People are buying items that Walmart makes less money on, like eggs, instead of big-ticket fancy items the store makes more on, such as electronics, Biggs added to the outlet (even though it's selling more food overall).
The Waltons, including three of the late co-founder's children, own a little less than half of the company and are worth $212 billion all together, Bloomberg noted, per its Billionaires Index.
The index also lists the Waltons at the world's richest family.
The Walton Family Foundation and Walmart did not immediately respond to a request for comment.
