Walmart heirs lose 1.6 billion USD after the company's company hike the company

The wealth of Rob Walton, the oldest son of Walmart founder Sam Walton, fell according to 450 million US dollars. Forbes.

The 80-year-old remained the richest in the family with net assets of $ 114.5 billion.

His brother Jim's assets fell by $ 448 million, and his sister Alice saw that her fortune decreased by $ 439 million.

Two other family members lost 261 million US dollars on this day.

After CEO Doug McMillon had announced plans to increase retail prices in the course of this month due to the high costs for tariffs, in a clear signal that the trade war is filtered into the American economy, according to the Reuters.

The shares of Walmart, the world's largest retailer, were flat at the afternoon trade and recovered most of its early losses of 4% in morning trade, after delivering a winning forecast for the second quarter, even as the company's US comparison in the first quarter.

“All tariffs create cost pressure for us, but the larger tariffs in China have the greatest influence. The cost pressure of all markets with tariff-impacted markets started at the end of April and was accelerated in May,” said CEO Doug McMillon in a meeting.

Although the United States and China have approved 90-day reparation that reduced the tasks for Chinese imports to 30%, Walmart still expects increasing costs because it relates the majority of its goods from China.

“We will do our best to keep our prices as low as possible. In view of the size of the tariffs, even at the reduced levels announced this week, we cannot add the entire pressure in view of the reality of the tight retail margins,” he added.

Around 60% of the imported goods have been from Walmart from China since last year. It is the largest importer of container goods in the United States with 870,000 containers who were preserved last year.