How the Waltons Maintain a $100B Fortune

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Sept. 12 (Bloomberg) -- Bloomberg's Zach Mider reports on the Walton family's fortune. Hey are the richest family in the U.S. Mider speaks on Bloomberg Television's "In The Loop." (Source: Bloomberg)

They are america's richest family, the waltons, worth more than $104 billion but they have exploited a variety of legal loopholes to avoid paying estate tax and maintain that impressive fortune.

I'm joined i zach miter who wrote this story.

Are they worth $100 billion?

More than that, so much money that if you were to fill a large backyard swimming pool with solid gold, it would not be worth as much as the walton fortune.

That's a lot of dough.

They want to preserve that money so how have they been able to exploit these loopholes?

All these maneuvers are perfectly legal and they are widely used among billionaires.

Some of them are not really available for people who just have -- pay a small income tax bill.

Some of it works only for people who have billions.

It is because they are complicated and involves locking up part of their fortune for a long time.

It is only useful if you don't actually need to access that money.

So what would be one example?

When we talk about -- one was pioneered by a member of the walton family tummy tuck.

It is a complicated maneuver where you create a trust and the trust pays you some back but the bottom line is that you are able to transfer gifts tax-free to your heirs and get around the estate tax.

You mentioned many ilia mares -- many alien heirs asked laura these methods.

-- many billionaires explore these methods.

These are perfectly legal technics.

How come congress has not other to close these loopholes?

Part of the answer is that democrats and republicans disagree about what to do with the extra revenue.

Republicans want to lower rates and democrats want to use that money for whatever reason.

When they cannot agree on that, then nothing happens.

Did you get any comment from the walton family?

It's in our story.

They say that all these things are perfectly -- not only legal but commonly used.

So they say why single us out?

Thanks so much.

We are all over the world's richest like the waltons with our exclusive billionaires index on

This text has been automatically generated. It may not be 100% accurate.


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