The Walton family, billionaire heirs to the Walmart Inc. fortune, have been very involved in efforts to solve the water shortage crisis on the Colorado River, a Wall Street Journal analysis found. Over the past decade, they've given around $200 million to various advocacy groups, universities, and media outlets devoted to helping the river bounce back, putting them far ahead of any other donor to the cause, per the Journal.
While that sounds like a good thing — and there clearly are benefits — there are some skeptics who feel that the Walton's preference for water markets as a solution isn't the right approach because it could lead to a rush of outside speculators investing in water, potentially to the disadvantage of farmers and the poor. And considering the money they've invested, as well as the fact that two officials in the Biden administration were once affiliated with the Waltons' foundation, there are concerns that the family has secured an outsized influence on policy discussions surrounding the Colorado River Basin, the Journal writes.
University of Oxford water-resource researcher Dustin Garrick told the Journal that the foundation's giving has "sharpened the divide between those at the table and those left behind." For example, Gary Wockner, founder of the environmental group Save the Colorado, said his funds were cut off after he pushed back against some policy ideas from other Walton family recipients. "I was told 'you're out of alignment,'" he told the Journal. Read more at The Wall Street Journal.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
What to know before turning to AI for financial advicethe explainer It can help you crunch the numbers — but it might also pocket your data
-
Book reviews: 'The Headache: The Science of a Most Confounding Affliction—and a Search for Relief' and 'Tonight in Jungleland: The Making of Born to Run'Feature The search for a headache cure and revisiting Springsteen's 'Born to Run' album on its 50th anniversary
-
Keith McNally' 6 favorite books that have ambitious charactersFeature The London-born restaurateur recommends works by Leo Tolstoy, John le Carré, and more
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Why the catastrophe bond market is growingThe Explainer The bonds pay for climate change disaster damages
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
