Noticed equity falling at Walmart a while back, in spite of the company posting healthy profits. I considered the possibility the Walton heirs were cashing out. Seems they have been. It must be expensive being “idle rich”.
Similarly, the trust for the Walton family, heirs to Walmart’s founder, sold $1.5 billion in Walmart stock this month. The family owns about 45% of Walmart’s shares, according to Bloomberg.
So, what would they know? That some sort oft of a “crash” is coming? Of all the people who can afford to buy-and-hold these are them. Or is a multi decade of death and destruction coming? Or are they just jockeying around their excess money? Puff piece sounds like
At least as far as the Walton heirs are concerned, as suggested, it is expensive being “idle rich”. The pump seal company I worked for was closely held. There was a troop of heirs of the founders who, from time to time, wanted to sell stock. Being closely held, there was no possible market for the stock, other than selling it back to the company. The company did not want to let loose of the money. There were threats of lawsuits by the heirs that wanted loot to support their lifestyles.
Speaking of Walmart, came across this piece today, going into Walmart’s purchase of Vizio, a producer of low priced TVs, and talks about how “smart TVs” are being used as advertising platforms. There are some 18M Vizio TVs in use, that Walmart can use to pipe advertising into people’s homes, by taking control of the Vizio “smart TV” feature, and more Vizio TVs being sold every day.
Are they buying something else?
Hookers and blow? The article is dressing it up as rats abandoning a ship. Bezos has an ex-wife to keep in the style to which she is accustomed. I can barely imagine what the Walton heirs want with over a Billion.
Steve
That’s the sensible question!!! If most of their wealth is in their stocks that’s the most liquid asset they likely own so that’s where they go to get cash.
Despite some recent fOOLish remarks about liquidity, without liquidity markets have a hard time doing their job.
Where is that cash going? Into Scrooge Vaults?
Not likely. Follow the money.
The Captain
Swiss Banks?