As many ppl have mentioned, this article is totally wrong.
Let me explain. What do you think of a company that is super cheap and pays the bulk of their employees literally scraps…ok, minimum wage. This is a huge retail company which gets their wholesale stock mainly from China where many, many (too many) labor laws are broken and have Chinese ppl working for pennies and have kids working when they should be in school. Given most of the goods are from China, the quality of the merchandise is very poor and will break quite often, but its cheap so who cares? This company almost never gives back to the community and is extremely frugal in terms of donations. Would you shop here? Would ppl still shop here?
But yet given all this, Wal-mart is still extremely profitable and everyone shops there…even the mom and pop store owners that they put out of business because there is nowhere else to buy stuff.
In fact, if Walton did not split his fortune among family members, Forbes mentioned he would be the richest man in the world every year — more than Bill Gates or Warren Buffett. Even some of his family members make the list each year and they only have part of his fortune.