(Bloomberg) Watch out for falling fortunes.
The four members of the Walton family controlling more than half the shares of Wal-Mart Stores Inc. had $11 billion of their combined net worth evaporate Wednesday as shares of the retailer plunged on a lower earnings outlook for the coming fiscal year.
The billionaire Waltons -- Christy, Jim, Alice and Rob -- have a combined $120 billion fortune, according to the Bloomberg Billionaires Index, with the bulk of their wealth in the shares they inherited from Wal-Mart founder Sam Walton. The four shareholders, three children of Sam and Christy, the surviving spouse of a fourth sibling, are among the year’s worst-performing billionaires, losing a total of $41 billion since Jan. 1.
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