Walmart’s $16 Billion India Investment Hits Waltons' Fortune

Falling shares cut $4.3 billion from the Walton family fortune
Walmart’s purchase makes Flipkart’s co-founders billionaires

Sachin, left, and Binny Bansal.Photographer: Hemant Mishra/Mint via Getty Images

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By Tom Metcalf and Saritha Rai

May 9, 2018 at 12:37 PM UTC

Updated on

May 9, 2018 at 4:20 PM UTC

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The world’s wealthiest family has just bestowed billionaire status on two of India’s most feted tech entrepreneurs. And wiped more than $4 billion from their own fortunes.

Walmart Inc., controlled by the Walton family, led a group that bought a 77 percent stake in Flipkart Online Services Pvt. The deal valued the Indian company at about $21 billion.