The $62.3 million is estimated to be less than 1% of the Walmart stock he owns, which amounts to 106.3 million shares worth over $8.4 billion. After stepping down as company chairman, Walton has remained a board member. Back in 2015, Walton was succeeded by Greg Penner as company board chairman in an annual shareholders’ meeting in Arkansas. Penner had joined the family through the marriage to the granddaughter of founder Sam Walton, who died in 1992. Penner, a former Goldman Sachs analyst, had previously held senior roles in the online business and as CFO in the Japan branch. Some believed that his appointment served to further the dynasty of the Walton family. Penner assured the company’s workers and shareholders that the board of directors has a great balance, with 10 of the 15 directors considered independent.
