Bernie Sanders Criticizes Walmart Over Buybacks and Employee Pay

Sen. Bernie Sanders, I-Vt., criticized Walmart Inc. over its stock buyback program and employee wages, while also taking aim at the wealth of the company's founding Walton family, Tanya Rawat reported for Benzinga.

Bernie Sanders is criticizing Walmart's multibillion-dollar stock buybacks and employee compensation policies. [Photo: Bernie Sanders Facebook]

In a post on X, Sanders said Walmart has spent $37.6 billion on stock buybacks since 2020, arguing that the money could have provided each employee with a $23,550 bonus.

He also claimed Walmart pays wages low enough that many workers rely on government assistance programs such as Medicaid and the Supplemental Nutrition Assistance Program (SNAP).

Sanders described the Walton family, whose wealth he estimated at $485 billion, as the nation's "real welfare queen."

Walmart, however, announced in February that it had approved a new $30 billion share repurchase program and increased its annual dividend by 5% to 99 cents per share, marking its 53rd consecutive year of dividend increases.

The company also said eligible U.S. corporate employees would receive 121% of their target annual bonuses, slightly below the 122% paid the previous year.