Walton family to divest Wal-Mart shares

BENTONVILLE, Ark. — The Walton family will divest itself of about 6% of its shares, worth $15.6 billion, in Wal-Mart Stores. The shares, owned by the offspring of company founder Sam Walton, will be divested into a new trust to fund charitable initiatives. The aim is to keep Walton family ownership of the company under 50%, which has caused concern among some analysts. The Walton family is reportedly worth almost $150 billion, more than Bill Gates and Warren Buffett combined. The six members of the Walton family earn the equivalent of about $1.5 million per hour from dividend payouts from its shares.