Walmart Founder Family Sells Shares Worth 400 Billion Won Again, Former CEO Joins

The Walton Family Holdings Trust sold shares of Walmart Inc. (NYSE: WMT) several times on the open market between May 22 and 28, raising roughly $310 million (about KRW 430 billion). Its direct stake declined only marginally, from approximately 510 million shares to around 509 million shares.

During the same period, the trust also executed an in-kind distribution—transferring about 1.55 million shares to beneficiaries at no cost. On May 28, former CEO C. Douglas McMillon sold roughly $2.3 million (about KRW 3 billion) of Walmart stock under a pre-established Rule 10b5-1 plan; he nevertheless retains millions of shares.

On May 21, Walmart reported first-quarter fiscal 2027 revenue of $177.8 billion, a 7.3% increase year-over-year. E-commerce, advertising and membership businesses drove the growth, and adjusted earnings per share rose by more than 8%.

With its 2026 annual shareholder meeting approaching—where proposals on AI deployment, worker safety and supply-chain risks will be voted on—and a planned reorganization of its technology and product teams affecting about 1,000 employees, Walmart has emphasized its “people-led, tech-powered” strategy and is stepping up investments in AI and automation.

As the world’s largest retailer with annual sales exceeding $700 billion, Walmart remains family-controlled: founder Sam Walton’s heirs hold roughly mid-40% stakes through Walton Enterprises and the Walton Family Holdings Trust. C. Douglas McMillon, who has led the company since 2014, is slated to step down as CEO on January 31, 2026, handing the reins to John Furner in a planned succession.