Fall-off in affluence

Queen of cosmetics dethrones Fort Worth billionaire as world’s richest woman

Alice Walton has been dethroned as the richest woman in the world.

Photo courtesy of Wal-Mart

Fort Worth billionaire Alice Walton likely isn’t shedding a single tear about this, but she’s been knocked off her perch as the world’s richest woman.

Grabbing the title from Walton is Francoise Bettencourt Meyers, chairwoman of her family’s holding company, which controls the L’Oréal cosmetics empire. New data from Forbes estimates her fortune at $49.3 billion, compared with $44.4 billion for Walton. Overall, Bettencourt Meyers ranks as the 15th richest person in the world, and Walton ranks 17th.

“While it’s Bettencourt Meyers’ first official year as richest woman, her name is no stranger to the spot. For the past decade, the world’s richest woman has either been a Bettencourt or Walton,” Forbes says.

With a net worth at the time of $46 billion, Walton held the No. 1 spot in Forbes’ 2018 ranking of the world’s richest women. She rocketed to the top of last year’s list thanks in large part to a 43 percent jump in the value of her shares in Walmart, the retail giant co-founded by her legendary father, Sam Walton.

Regardless of whether she’s the richest or second richest woman in the world, Walton “lives a very humble life and is also a firm believer in philanthropy,” according to the Wealthy Gorilla website. Business Insider noted last year that Walton spends much of her fortune on collecting art and breeding horses.

“Despite attempts to spend her fortune quietly, Alice became the target of pushback a few years ago from minimum-wage Walmart employees who view her lifestyle as insensitive and ignorant to the plights of many workers,” Business Insider reported.

In 2018, Walton snagged the title of world’s richest woman from L’Oreal heiress Liliane Bettencourt, who died in September 2017 at age 94. Francoise Bettencourt Meyers, the only child of Bettencourt, sat in second place last year. In 2016 and 2017, Walton claimed the No. 2 spot, one notch behind Bettencourt.

Walton can still take pride in the fact that she’s a member of the world’s richest family. In mid-February, the combined wealth of Walton and her two brothers totaled $141.5 billion. Altogether, seven Walton family members share a fortune pegged at roughly $170 billion.

“The Walton family makes more money in one minute than Walmart workers do in an entire year,” U.S. Sen. Bernie Sanders of Vermont, who’s seeking the Democratic nomination for president, tweeted February 14.

Shortly after Sanders posted that tweet, a Washington Post fact checker declared the senator’s claim — that the Walton family rakes in $25,149 a minute — was true.

Walton is one of 21 Texans who made the top 600 of Forbes’ 2019 list of the world’s richest people. The others are, in order:

Michael Dell of Austin, No. 25, net worth of $34.3 billion.
Andy Beal of Dallas, No. 158, net worth of $9.1 billion.
Jerry Jones of Dallas, No. 224, net worth of $6.8 billion.
Richard Kinder of Houston, No. 239, net worth of $6.6 billion.
Dannine Avara of Houston, No. 290, net worth of $5.9 billion.
Scott Duncan of Houston, No. 290, net worth of $5.9 billion.
Milane Frantz of Houston, No. 290, net worth of $5.9 billion.
Randa Williams of Houston, No. 290, net worth of $5.9 billion.
Robert Rowling of Dallas, No. 334, net worth of $5.3 billion.
Robert Smith of Austin, No. 355, net worth of $5 billion.
Robert Bass of Fort Worth, No. 365, net worth of $4.9 billion.
Tilman Fertitta of Houston, No. 394, net worth of $4.7 billion.
Ray Lee Hunt of Dallas, No. 394, net worth of $4.7 billion.
Trevor Rees-Jones of Dallas, No. 452, net worth of $4.3 billion.
Mark Cuban of Dallas, No. 478, net worth of $4.1 billion.
H. Ross Perot Sr. of Dallas, No. 478, net worth of $4.1 billion.
Kelcy Warren of Dallas, No. 478, net worth of $4.1 billion.
Bert “Tito” Beveridge of Austin, No. 504, net worth of $4 billion.
Dan Friedkin of Houston, No. 504, net worth of $4 billion.
Janice McNair of Houston, No. 546, net worth of $3.8 billion.

forbes lists rankings luxury

Hot-to-trot party

Former Fort Worth mayor helps corral big bucks at New Hope Equine gala

Photo by Savanna Romano

Betsy Price, Scott Murray

As the sun set over expansive pastures north of Fort Worth, hundreds of city slickers headed up to the country, to Lucky Spur Ranch Retreat in Justin for the 2024 Hope Gala.

Benefiting New Hope Equine Assisted Therapy, the October 25 fundraising party went all in on the horse theme, offering guests "A Night at the Races."

About 220 attendees arrived donning Derby hats and fascinators, bowties, fedoras, and cowboy boots - it was on a ranch after all, and not Churchill Downs. They mingled and posed with New Hope horses, browsed an impressive array of silent auction items, tossed horseshoes at whiskey bottles, and wet their whistles at an open bar alfresco.

When the dinner bell rang, folks moseyed inside and filled up on a buffet of Southwestern favorites, including beef skirt steak, grilled chicken, street corn, and Yukon Gold mashed potatoes. Nothing Bundt Cakes provided enough cake bites to satisfy any sweet tooth.

Master of ceremonies, former NBC5 sports anchor Scott Murray, welcomed guests and acknowledged New Hope leadership, including gala event chair Jason Hodson.

New Hope Equine Hope Gala 2024 Claire Messerle, Betsy Price, Katie MesserlePhoto by Savanna Romano

Moments later came a rousing "Howdy, y'all!" - the familiar greeting from former Fort Worth mayor Betsy Price, who served as the event's honorary chair. She underscored the importance of the organization's mission.

"New Hope isn't just a service, but it opens doors for those who think they don't have the strength, they don't have the courage or the connections to regain their sense of independence," she told the crowd.

Photo by Savanna Romano

Hope Gala honorary chair Betsy Price with emcee Scott Murray.

Since 2012, New Hope has been healing through therapeutic horsemanship for people of all ages with physical, intellectual, or developmental special needs. In 2022, they debuted the Natural Horsemanship program for veterans and first responders grappling with post-traumatic stress.

Funds raised at the gala support the “New Hope” that riders need for a better quality of life.

But the horses benefit, too. The majority of New Hope horses enjoy a second life with the organization; some were even on local kill lists.

"This is Texas, folks! We ride horses in Texas," Price concluded. "And every dollar that you give tonight or that you invest somewhere along the way will be doubled or tripled in the returns to these folks who need the therapy and the ones who work in the barns and help us."

New Hope Equine Hope Gala 2024 Guests bid in the live auction.Photo by Savanna Romano

Auctioneer Mike Trent got bidding going fast and furiously in a live auction for one-of-a-kind trips and experiences, including a vacation to Hilton Head (sold for $2,600), a dinner with several Dallas Cowboys legends (sold for $7,000), and a luxury suite concert experience at Dickies Arena (sold for more than $10,000).

In total, the gala raised $95,000 for New Hope programs.

"The annual cost to care for one horse runs about $6,000, so your generosity will help us care for our horses that provide vital therapy to our over 40 participants," organizers said afterwards.

New Hope Equine Hope Gala 2024 Champagne Yacht Club Band kept the dance floor lively.Photo by Savanna Romano

As some guests wandered outside to enjoy the fresh nighttime air, others got moving and grooving on the dance floor to the sounds of the Champagne Yacht Club Band.

Spotted in the crowd, enjoying the night were New Hope patrons, staff, board members, volunteers, and supporters, including Hamilton Sneed, Jennifer Kiedrowski, Nicole Matwijiw, Jennifer Morris, Pat Fultz, Red Fultz, Devan Peplow, Kathleen Beisly, Emily Rogers-Hicks, Susan Altshuler, Lauren Cobb, Ashley Cox, Mikenley Johnson, Blake Johnson, Kathleen Alexander, Melissa Howard, Claire Messerle, Katie Messerle, Sharla Kershen, Dave Kershen, Jason Hodson, Aaron Sturman, Jennifer Kiedrowski, Neal Bondy, Paul Barstad, Melanie Barstad, Mark Powers, DeAnna Powers, Kim Martin, Darlene Jacobs, Jim Jacobs, Debbie Thayer, and hundreds more.