Loss of $19 Billion by the World's Richest Family

After Walmart cut its earnings forecast, the Walton wealth fell about $19 billion.

Family-controlled Walmart slumped 11% in New York trade after reporting disappointing results.

Soaring inflation pressured the retailing giant's first-quarter profit margins, challenging its willingness to boost prices.

The late Sam Walton built the company on a cheap mentality that has helped it weather recessions in the past.

The family, which holds a holding via trusts, has increased stock sales recently.

Last year, they sold $6.2 billion in shares as part of a plan to maintain their ownership below 50% during buybacks.

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