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Wal-Mart heirs, Mars clan top America's richest families

For Sam Walton, low prices meant vast riches. By 1985, Walton was America's richest man. At the time of his death in 1992 he and his family were worth at least $23 billion, proceeds of a life spent selling everything he could fit under the roofs of his Wal-Mart stores — from tyres to tortellini — at prices neighbourhood stores could not match.

Wal-Mart heirs, Mars clan top richest Americans tally

Wal-Mart Stores Inc. founder Sam Walton is photographed in this undated photograph. Oklahoma native bootstrapped his way from J.C. Penney clerk in 1940 to America's richest person in 1985. REUTERS

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Today Walton's heirs--two sons, a daughter, a daughter-in-law and two nieces--are worth at least $90 billion, making them the richest family in America. The Waltons are so rich that they have more than double the dollars of the second richest family in the U.S., the Koch clan, who command a fortune of at least $40 billion.

The four Koch brothers are the sons of Fred C. Koch, who invented a method of converting heavy oil into gasoline. Each son inherited a stake in Koch Industries when Fred died in 1967.

Charles and David bought out William and Frederick for $1.1 billion in 1983. William and other family members soon sued for more, sparking a legendary fraternal feud. The fight was finally settled in 2001.

Today Koch Industries is America's second-largest private company by sales, with products ranging from fabrics to fertilizer. Charles and David each own 42% of Koch Industries and are vastly richer than their brothers.

For more MSN India updates, join us on Facebook or follow us on TwitterFacebookTwitter

Wal-Mart heirs, Mars clan top America's richest families

For Sam Walton, low prices meant vast riches. By 1985, Walton was America's richest man. At the time of his death in 1992 he and his family were worth at least $23 billion, proceeds of a life spent selling everything he could fit under the roofs of his Wal-Mart stores — from tyres to tortellini — at prices neighbourhood stores could not match.

Wal-Mart heirs, Mars clan top richest Americans tally

Wal-Mart Stores Inc. founder Sam Walton is photographed in this undated photograph. Oklahoma native bootstrapped his way from J.C. Penney clerk in 1940 to America's richest person in 1985. REUTERS

In Pictures: America's Richest Families
In Pictures: Billionaire Heiresses To Watch
In Depth: Where The World's Richest Live
How 10 Star Athletes Stay Cool Under Pressure
In Pictures: 10 Ways To Boost Employee Morale

Today Walton's heirs--two sons, a daughter, a daughter-in-law and two nieces--are worth at least $90 billion, making them the richest family in America. The Waltons are so rich that they have more than double the dollars of the second richest family in the U.S., the Koch clan, who command a fortune of at least $40 billion.

The four Koch brothers are the sons of Fred C. Koch, who invented a method of converting heavy oil into gasoline. Each son inherited a stake in Koch Industries when Fred died in 1967.

Charles and David bought out William and Frederick for $1.1 billion in 1983. William and other family members soon sued for more, sparking a legendary fraternal feud. The fight was finally settled in 2001.

Today Koch Industries is America's second-largest private company by sales, with products ranging from fabrics to fertilizer. Charles and David each own 42% of Koch Industries and are vastly richer than their brothers.

For more MSN India updates, join us on Facebook or follow us on TwitterFacebookTwitter
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