Jim Walton

Last updated
Jim Walton
Jim Walton attends shareholders meeting.jpg
Walton in 2011
Born
James Carr Walton

(1948-06-07) June 7, 1948 (age 75) [1]
Newport, Arkansas, U.S.
Alma mater University of Arkansas (BS)
Occupations
  • Businessman
  • stock trader
Political party Independent
Board member of
SpouseLynne McNabb
Children4 [3]
Parents
Relatives
Family Walton

James Carr Walton [1] (born June 7, 1948) [4] is an American businessman, currently an heir to the fortune of Walmart, the world's largest retailer. [5] As of November 2023, Walton was the 15th-richest person in the world, with a net worth of US$73 billion according to Bloomberg Billionaires Index . [6] He is the youngest son of Sam Walton.

Contents

Early life and family

Jim Walton was born in Newport, Jackson County, Arkansas, the third child of Walmart co-founder Sam Walton (1918–1992) and Helen Walton (1919–2007), with siblings Rob Walton, Alice Walton, and John Walton (1946 – 2005). [3] [7] [8] Walton graduated from Bentonville High School in 1965, where he was president of his junior class, played football at all-state level and also learned to fly a plane. Walton received a bachelor's degree in Business Administration in Marketing from the University of Arkansas in Fayetteville, Arkansas in 1971, where he was also a member of the Lambda Chi Alpha fraternity. [2] [3] [9] In 1972, he joined Walmart and was involved in its real-estate dealings. After serving for four years, he moved to the family owned Walton Enterprises as president in 1975. [2] [4] : 69–76  [10] [11]

Career

On September 28, 2005, Walton replaced his deceased brother, John, on the Wal-Mart Board of Directors. [2] He is currently on the Strategic Planning and Finance committees. [9] He was CEO of his family owned Arvest Bank, until becoming Chairman of Arvest Bank, and chairman of newspaper firm Community Publishers Inc. (CPI) owned by Jim Walton himself (but founded by his father Sam Walton after acquiring the local newspaper the Benton County Daily Record, both operating in Arkansas, Missouri, and Oklahoma [10] [12] ). He has pledged about $2 billion to the Walton Family Foundation along with his siblings from 2008 to 2013. [3] [13]

In September 2016, Walton was reported to own over 152 million of Walmart shares worth over $11 billion (US). [14]

Personal life

He and his wife, Lynne McNabb Walton, have four children: Alice A. "Annie" Proietti (born November 1979), [15] [16] Steuart Walton (born April 1981), Thomas Layton "Tom" Walton (born September 1983), and James M. Walton (born August 1987). The family resides in Bentonville, Arkansas. [9]

In 2014, he was ranked at #10 on the Forbes list of billionaires with a net worth of $34.7 billion that has increased by $3 billion. [7] On the 2013 Forbes 400 list of the richest people in America he is ranked at #7. [17] As of March 2019, he was ranked as the 16th-richest person in the world, with an estimated net worth of $45.7 billion. [18]

See also

Related Research Articles

<span class="mw-page-title-main">Walmart</span> American multinational retail corporation

Walmart Inc. is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores in the United States, headquartered in Bentonville, Arkansas. The company was founded by brothers Sam and James "Bud" Walton in nearby Rogers, Arkansas in 1962 and incorporated under Delaware General Corporation Law on October 31, 1969. It also owns and operates Sam's Club retail warehouses.

<span class="mw-page-title-main">Bentonville, Arkansas</span> City in Arkansas, United States

Bentonville is the ninth-most populous city in Arkansas, United States, and the county seat of Benton County. The city is centrally located in the county with Rogers adjacent to the east. The city is the birthplace and world headquarters location of Walmart, the world's largest retailer. It is one of the four main cities in the three-county Northwest Arkansas Metropolitan Statistical Area, which is ranked 105th in terms of population in the United States with 546,725 residents in 2020, according to the United States Census Bureau. The city itself had a population of 54,164 at the 2020 Census, an increase of 53% from the 2010 Census. Bentonville is considered to be one of the fastest growing cities in the state and consistently ranks amongst the safest cities in Arkansas. It is included in the Fayetteville–Springdale–Rogers Metropolitan Statistical Area.

<span class="mw-page-title-main">Sam Walton</span> American businessman (1918–1992)

Samuel Moore Walton was an American business magnate best known for founding the retailers Walmart and Sam's Club, which he started in Rogers, Arkansas and Midwest City, Oklahoma in 1962 and 1983 respectively. Wal-Mart Stores Inc. grew to be the world's largest corporation by revenue as well as the biggest private employer in the world. For a period of time, Walton was the richest person in the United States. His family has remained the richest family in the U.S. for several consecutive years, with a net worth of around US$240.6 billion as of January 2022. In 1992 at the age of 74, Walton died of blood cancer and was laid to rest at the Bentonville Cemetery in his longtime home of Bentonville, Arkansas.

<span class="mw-page-title-main">Helen Walton</span> American philanthropist and prominent arts advocate (1919-2007)

Helen Robson Walton (December 3, 1919 – April 19, 2007) was an American philanthropist and prominent arts advocate, dedicated to her community in Bentonville, Arkansas where she instituted a committee for a national museum of arts. After 31 years of activity, the Arkansas Committee on the National Museum for Women in the Arts is the longest standing committee in the state. She was also the wife of Walmart and Sam's Club founder Sam Walton. At one point in her life, she was the richest American and the eleventh-richest woman in the world.

<span class="mw-page-title-main">S. Robson Walton</span> American billionaire (born 1944)

Samuel Robson "Rob" Walton is an American billionaire heir to the fortune of Walmart, the world's largest retailer. He is the eldest son of Helen Walton and Sam Walton, and was chairman of Walmart from 1992 to 2015. As of November 2023, Walton had an estimated net worth of US$72 billion, making him the 16th richest person in the world. He is also the principal owner of the Denver Broncos.

<span class="mw-page-title-main">Alice Walton</span> American heiress to the fortune of Wal-Mart Stores, Inc.

Alice Louise Walton is an American heiress to the fortune of Walmart as daughter of founder Sam Walton. In September 2016, she owned over $11 billion in Walmart shares. As of November 2023, Walton has a net worth of $71 billion, making her the 17th richest person and the second-richest woman in the world according to Bloomberg Billionaires Index, after Françoise Bettencourt Meyers.

John Thomas Walton was an American war veteran and a son of Walmart founder Sam Walton. He was also the chairman of True North Venture Partners, a venture capital firm. Walton cofounded the Children's Scholarship Fund, providing tuition scholarships for disadvantaged youth.

Christy Ruth Walton is the widow of John T. Walton, one of the sons of Sam Walton, the founder of Walmart.

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<span class="mw-page-title-main">Arvest Bank</span> American bank

Arvest Bank is a bank headquartered in Bentonville, Arkansas, with branches in Arkansas, Kansas, Oklahoma, and Missouri. It is the oldest bank in Arkansas and is on the list of largest banks in the United States. It is almost entirely owned by the Walton family. Jim Walton serves as the chairman.

<span class="mw-page-title-main">Walton family</span> Family descended from the founders of Walmart

The Walton family is an American family whose collective fortune derived from Walmart makes them the richest family in the world.

<span class="mw-page-title-main">History of Walmart</span> History of American retail corporation

The history of Walmart, an American discount department store chain, began in 1950 when businessman Sam Walton purchased a store from Luther E. Harrison in Oklahoma City, Oklahoma, and opened Walton's 5 & 10. The Walmart chain proper was founded in 1962 with a single store in Rogers, expanding inside Oklahoma by 1968 and throughout the rest of the Southern United States by the 1980s, ultimately operating a store in every state of the United States, plus its first stores in Canada, by 1995. The expansion was largely fueled by new store construction, although the chains Mohr-Value and Kuhn's Big K were also acquired.

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<span class="mw-page-title-main">Northwest Arkansas</span> Metropolitan area in Arkansas, United States

Northwest Arkansas (NWA) is a metropolitan area and region in Arkansas within the Ozark Mountains. It includes four of the ten largest cities in the state: Fayetteville, Springdale, Rogers, and Bentonville, the surrounding towns of Benton and Washington counties, and adjacent rural Madison County, Arkansas. The United States Census Bureau-defined Fayetteville–Springdale–Rogers Metropolitan Statistical Area includes 3,213.01 square miles (8,321.7 km2) and 576,403 residents, ranking NWA as the 98th most-populous metropolitan statistical area in the U.S. and the 13th fastest growing in the United States.

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Gregory Boyd Penner is an American businessman who is the chairman of Walmart and co-owner and CEO of the Denver Broncos of the National Football League (NFL). He is the son-in-law of S. Robson Walton and the grandson-in-law of Sam Walton, the founder of Walmart.

Lukas Tyler Walton is an American billionaire heir. He is the grandson of Sam Walton, the founder of Walmart.

Steuart Walton is an American attorney and businessman. Born into the billionaire Walton family, he is a director of Walmart, the world's largest company by revenue, co-founder of private equity firm RZC Investments, which bought British cycling brand Rapha in 2017, and founder of Game Composites, a composite aircraft manufacturer.

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References

  1. 1 2 "Sam Walton: Great From the Start". Harvard Business School . 2001-07-23. Retrieved 2013-12-21.
  2. 1 2 3 4 5 "Executive Profile: Jim C. Walton". Bloomberg Businessweek . Archived from the original on December 21, 2013. Retrieved 2013-12-21.
  3. 1 2 3 4 "Jim Walton". Forbes . September 2013. Retrieved 2013-12-21.
  4. 1 2 Ortega, Bob (1999). In Sam We Trust: The Untold Story of Sam Walton and how Wal-Mart is Devouring the World. Kogan Page Publishers. p. 28. ISBN   978-0-7494-3177-8.
  5. ↑ "Walmart's surge just added $12 billion to the Walton family's wealth". nordic.businessinsider.com. Retrieved 2018-08-19.
  6. ↑ "Bloomberg Billionaires Index: Jim Walton". Bloomberg . Retrieved November 5, 2023.
  7. 1 2 "2014 Forbes Billionaires". Forbes . 2014. Archived from the original on March 10, 2012. Retrieved 2014-03-03.
  8. ↑ "The World's Billionaires #26 Jim Walton". Forbes . 2008-05-03. Retrieved 2013-12-21.
  9. 1 2 3 "Jim C. Walton". walmart1percent. Archived from the original on 2016-05-15. Retrieved 2013-12-21.
  10. 1 2 Serwer, Andy (2004-11-15). "THE WALTONS/ INSIDE AMERICA'S RICHEST FAMILY". CNNMoney.com. Archived from the original on 2013-12-24. Retrieved 2013-12-21.
  11. ↑ Buehler, Nathan (2016-06-04). "The Top 4 Walmart Shareholders". Investopedia. Retrieved 2018-08-19.
  12. ↑ "Jim C. Walton Chairman and CEO of Arvest Bank Group, Inc". Walmart . 2008-03-05. Archived from the original on 2014-01-03. Retrieved 2013-12-21.
  13. ↑ Mark A. Joyce (October 23, 2015). "Guest columnist recounts out-of-state money and PAC support going to campaigns of certain BESE candidates". Louisiana Voice. Retrieved November 14, 2015.
  14. ↑ "Insidermole.com". Insidermole.com. Retrieved 27 September 2016.
  15. ↑ https://www.nwaonline.com/news/2009/oct/18/walton-proietti-wedding-20091018/
  16. ↑ https://sjvsun.com/business/bitwise-industries-surprise-whale-the-family-behind-walmart/
  17. ↑ "The Forbes 400 The Richest People in America". Forbes . September 2013. Retrieved 2013-12-22.
  18. ↑ "Jim Walton". Forbes. Retrieved 2019-03-27.
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