Walmart’s largest stock drop in 35 years cost the Walton family $19 billion on Tuesday.

The Waltons are the richest family in the world, with five members owning slightly under half of Walmart. According to Bloomberg, they lost a combined $19 billion on Tuesday after Walmart disclosed poor quarterly results. The company is valued at $212 billion.

The Waltons are the richest family in the world, with five members owning slightly under half of Walmart.

On Tuesday, they collectively lost $19 billion after Walmart released poor quarterly earnings.

Walmart, which the family owns, dropped 11% in New York trading after the Bentonville, Arkansas-based firm posted earnings that fell short of analyst expectations. Inflationary pressures put a strain on the retailer’s profit margins in the first quarter, putting the company’s willingness to hike prices to the test.

Sam Walton, the family’s late patriarch, built the company on a discount mentality that has helped the company’s shares rise during recessions in the past. Walton’s three surviving children, Alice, Jim, and Rob, as well as Christy’s daughter-in-law and Lukas, hold little under half of the company, with a combined net worth of roughly $212 billion.

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In recent years, the family, which controls its stake through several trusts, has increased its stock sales. They sold $6.2 billion in stock last year, according to the business, as part of a strategy to keep the family’s ownership below 50% through buybacks.

The Waltons have amassed enormous money outside of their Walmart investment as a result of these disposals. The family’s investing firm specializes in low-cost exchange-traded funds, with around $5.1 billion in US stocks and ETFs at the end of the first quarter.

This has given them a lot of money to spend on acquisitions. The Denver Broncos are up for sale for the first time in four years, with Rob Walton reportedly bidding for the team. It’s anticipated to fetch more than $4 billion at auction.

Every now and then, the family business has a bad day.

The Walton family, which owns Walmart, lost about $19 billion on Tuesday as the shares of the company fell.

Walmart posted profits on Tuesday, falling short of Wall Street’s estimates for quarterly profit. The company’s stock dropped 11.4 percent, the worst drop in nearly 35 years.

Walmart’s CFO, Brett Biggs, told CNBC that the difficult quarter was due to overstaffing caused by overhiring when employees got COVID, inventory challenges, and rising gasoline prices.

The Waltons hold a little less than half of the corporation and are worth a total of $212 billion, including three of the late cofounder’s offspring.

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While Tuesday’s wealth destruction was dramatic, stock market losses or gains aren’t realized until a party sells its stock.

The impact of inflation on consumers is also hitting Walmart.

People are opting for lower-margin things like eggs over higher-margin items like gadgets, according to Biggs (despite the fact that the store is selling more food overall).

The Waltons hold a little less than half of the corporation and are worth a total of $212 billion, including three of the late co-children. founder’s

The Waltons are also listed as the world’s wealthiest family on the index.