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January 05, 2016

Walmart Heirs Make $407 Million in Year-End Gifts to Trust

Three heirs to the Walmart retail fortune collectively donated $407 million in company stock in late 2015 to a trust formed earlier last year to fund the family's philanthropy, Fortune writes.

Alice Walton, the daughter of late Walmart founder Sam Walton, gave 3.7 million shares valued at about $225 million to the Walton Family Holdings Trust, according to regulatory filings Thursday. Her brothers Rob and Jim Walton each gave 1.5 million shares.

The trust was established in April as a repository for shares the heirs plan to sell as they reduce their stake in the world's largest retail company. The Waltons ultimately plan to donate more than 193 million shares, valued at the time of the trust's founding at about $15.6 billion.