Walmart heirs are making $4 million every hour and $100 million a day: report
People shop at a Walmart Supercenter store in Rosemead, California in May, 2019 AFP
August 10, 2019
How severe is income inequality in the United States? Enough that the wealthiest family in the country earns $4 million every hour.
According to Bloomberg News, the Walton family of Bentonville, Arkansas now have wealth in excess of $190 billion — and earn $70,000 a minute, enough to earn $4 million in an hour and $100 million in a day.
Walmart is the world's largest company by revenue. The retail juggernaut is also the largest employer in the United States, with 1.5 million workers, surpassing even Amazon. The company has raised many people's standard of living with its low prices, but has faced criticism for low wages. Recently, the company raised its base pay to $11 per hour, which is still not enough to live on in many metro areas.
The company has also faced more recent criticism for its permissive policy on guns, after a horrific mass shooting took place at one of its locations in El Paso.
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