America's Richest Family Gave Away $407M in Wal-Mart Shares

Three heirs to the Wal-Mart fortune have given away hundreds of millions of dollars worth of the retailer’s shares to a family trust that finances its philanthropy.

According to regulatory filings on New Year’s Eve, Alice Walton, the daughter of Wal-Mart founder Sam Walton, gave away 3.7 million of her Wal-Mart Stores shares on Dec. 28, a gift worth about $225 million based on that day’s closing price, to Walton Family Holdings Trust.

Rob Walton, until last year the retailer’s chairman, and his brother, Jim, each gave away 1.5 million shares, too, bringing the value of last week’s transaction to $407 million.