Waltons Transfer $48 Billion of Walmart Shares to Family Trust

The world’s wealthiest family moved $48 billion of Walmart Inc. stock to a different holding company in an action that may signal future share sales and bolster their philanthropy.

Walton Enterprises LLC, the main investment entity of the retailer’s founding clan, transferred about 15% of Walmart’s outstanding shares to the Walton Family Holdings Trust, according to regulatory filings last week.

The shift of 415 million shares represented about 29% of the shares held by Walton Enterprise. This entity now owns about 1 billion shares.

The family owns about half of the retailer’s outstanding shares and last week’s transaction doesn’t change their overall stake. But if previous selling patterns by the trust are any guide, disposals may occur. The trust has sold 98% of the 194 million shares that were distributed to it in April 2015.

A statement from that time said that the Waltons expected to sell the shares to help fund charitable contributions and offset increases in its ownership percentage as a result of the company’s stock buyback programs.

“There is no set timetable for the sale of shares from the trust,” according to a March 6 statement announcing the latest transfer. Kiki McLean, a spokeswoman for the family, declined to comment.

Read more: Walton Trust Sells $256 Million of Wal-Mart Shares After Rebound

The Waltons have a combined fortune of $185 billion, according to the Bloomberg Billionaires Index.

https://www.bloomberg.com/news/articles/2020-03-09/waltons-transfer-48-billion-of-walmart-shares-to-family-trust?fbclid=IwAR2Xc0iRYkmnhpmz-EPWD3MRw7WKBVZLTLR9qrIvb8dAscSXdT1uZ8ImST0

Just seeing this and don't know if it was posted and is from 3/9/2020.

@MikeBloomberg

announces his charitable organization will donate $40M to fighting the coronavirus.

The funding is planned to focus on Africa, but will be spread to other areas hit hard by the virus.

Former New York City Mayor Michael Bloomberg announced on Tuesday, his charitable organization, Bloomberg Philanthropies will be donating $40 million to coronavirus-related causes.

The former presidential candidate said the charity would be organizing a Coronavirus Global Response Initiative to ensure that low- and middle-income nations have rapid funding to mitigate the spread of the COVID-19 virus in their countries with a focus on helping nations in Africa.

The focus of the funding will be in Africa, but the charity will also direct some funds to cities throughout the world that are struggling to contain the coronavirus. Bloomberg Philanthropies will make the decision in partnership with the World Health Organization and Tom Frieden, the CEO of Resolve to Save Lives and former director of the Centers for Disease Control and Prevention.

“Millions of lives depend on getting the coronavirus response right — and so does the economic and social health of communities around the world. We need to slow transmission of the virus and minimize the impact of the outbreak in all countries,” Bloomberg said.

Frieden, who was also the New York health commissioner under Bloomberg, commended Bloomberg Philanthropies for supporting the efforts against the coronavirus.

"We have a window of time to partner with Ministries of Health in sub-Saharan Africa to protect their population from a disease that could kill through both infections and disruption of health services,” Frieden said. “From Ebola to H1N1, we now know more than ever how to minimize the risk of epidemics, especially in low- and middle-income countries. With Mayor Bloomberg’s support, we can help mitigate the worst effects of coronavirus in Africa.”

During his brief presidential bid, Bloomberg spent more than $500 million on advertising alone. He joins other charitable billionaires in working to tackle the coronavirus, including the Bill and Melinda Gates Foundation, which has pledged more than $125 million to address the pandemic.

https://twitter.com/dcexaminer/status/1240010879200047111

>>8452984

They need DNA now?