Walmart shares experienced their worst day in over a year on Thursday, resulting in a significant reduction in the net worth of the company’s heirs after issuing a weaker-than-expected forecast for 2025. The world’s largest firm by revenue also expressed concerns about the impact of President Donald Trump’s tariffs on consumer prices. Descendants of Walmart founders Bud and Sam Walton, who rank among the wealthiest individuals globally, saw billions wiped off their fortunes. Alice, Jim, and Rob Walton each lost over $6 billion, while other family members collectively lost approximately $3 billion. Walmart’s market capitalization dropped by $51 billion. Despite these challenges, Walmart CEO Doug McMillon emphasized the company’s commitment to saving consumers money amidst tariff concerns. CFO John David Rainey noted that tariffs were not included in full-year forecasts but acknowledged their potential to increase prices. Walmart also warned that the strengthening dollar since Trump’s election could impact profits, forecasting a 2% hit from foreign currency exchange rates this year. Nevertheless, Walmart remains on a strong stock market run, with shares up 8% year-to-date and 66% over the last year despite Thursday’s setback. — news from Forbes
