The Walton family which owns Walmart the worlds largest retail chain has been named as the richest family on the planet boasting a net worth of $432.4 billion according to the Worlds Richest Families 2024 list by Bloomberg. For context the combined wealth of the Walton family is more than that of SpaceX CEO Elon Musk who has a net worth of $416.8 billion while Mukesh Ambani and Gautam Adani two of Indias wealthiest individuals are also no match. Who founded Walmart? Walmart which has today grown into the worlds largest supermarket chain was established Sam Walton who started it as as a small-time store selling salt and turmeric at discounted prices. Born in a low-income household Sam Walton began working from a very young age delivering milk and newspapers in his neighborhood. Later Walton worked as a salesman at a retail store but was sacked by the manager after a short while. However his brief stint at the store proved to be of immense help as he found out that there was a lot of profit to be gained in the salt and turmeric business. Soon Sam Walton founded Walmart with the idea of attracting customers by offering discounts. Walton understood that people prefer to buy things in bulk if offered on discount and this strategy became Walmarts biggest strength as it grew into a multinational supermarket chain. Worlds largest retail supermarket From humble beginnings Walmart has today grown into the worlds largest retail supermarket with an annual revenue of $648.1 billion or about $473.2 million per day. This translates to the Walton family earning about $328577 (around Rs 3 crore) per minute. Currently Walmart has more than 10600 stores across the globe. Walmart which is half-owned by two holding companies owned by the Walton family is the worlds largest retailer and has been perched atop the Fortune 500 list for over a decade. Sam Walton died in 1992 following which his children Jim Walton Rob Walton and Alice Walton are managing Walmart. This family owns 46 percent of Walmart.