How the world’s richest family invests its wealth

Sam Walton would probably be bewildered by the businesses his grandchildren have chosen to pursue, but the late founder of the world’s largest family fortune would likely have applauded their initiative.

Grandson Ben Walton, 44, owns Zoma Capital, which makes investments in areas such as energy and water. His cousins Steuart and Tom bought Rapha, a high-end British cycling brand, for a reported $225 million in 2017. Tom’s Ropeswing Group operates an assortment of restaurants in Bentonville, Arkansas, that target millennials.

“The Walton family has groomed the next generation as a generation of entrepreneurs,” said Byron Trott, founder of merchant bank BDT Capital Partners, who advises some of the world’s richest families.