Wal-Mart control to tip to Waltons
New York City -- A $15 billion share buyback program, unveiled earlier in June, will allow Wal-Mart Stores’ founder Sam Walton’s descendants to see their stake in the chain edge up above 50%.
After Walton died in 1992, family members retained a stake of around 38% from the mid-1990s to the mid-2000s. Starting in 2003, a series of big share buybacks began to push the family stake higher, to 43% in 2008 and now to 49%, according to the latest filings.
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