In a small town in the US state of Arkansas, a young Sam Walton had a vision. It was to sell everyday goods at low prices, even in towns others overlooked. That idea, planted in 1962 at Bentonville, would grow into Walmart, a retail empire that now serves 270 million customers every week and generates over $681 billion in annual revenue.
More than six decades later, Sam Walton's family sits at the very top of the global wealth ladder. With a combined net worth of $513.4 billion, the Waltons are the richest family in the world, as per Bloomberg.
The Beginning
Before the empire, there was a five-and-dime store. In 1950, Sam and his wife Helen moved to Bentonville. Their approach was to understand the needs of everyday Americans and deliver them better than anyone else. By 1962, Sam's first Walmart store opened its doors, and the journey from small-town shopkeeper to global retail king began.
The Walton Family
Sam and Helen had four children: Rob, John, Jim, and Alice.
To keep control in the family, they created Walton Enterprises, a structure that held most of their Walmart shares. Each child held a stake, while Sam and Helen retained their own shares.
After Sam's death in 1992, Helen inherited his portion tax-free. Today, the Waltons collectively own nearly half of Walmart.
Growth Of The Retail Chain
Walmart's growth was relentless. By 1991, the company had opened its first international store, which was a Sam's Club in Mexico City. Today, it has more than 10,750 stores worldwide.
While most family members don't work day-to-day in the company anymore, they remain involved at the board level. Greg Penner, married to Sam Walton's granddaughter Carrie, chairs Walmart's board, and another grandson, Steuart Walton, has been a board member since 2016.
The Walton Heirs
Rob Walton, the eldest Walton, led the family through decades of expansion and now owns the NFL's Denver Broncos.
Jim Walton focused on banking and leading Walmart, while Steuart continued as the family presence on the board.
Alice Walton, the only daughter, channeled her wealth into art, founding the Crystal Bridges Museum of American Art, a world-class cultural institution in Bentonville.
Lukas Walton, John Walton's son, is making waves in impact investing and environmental projects.
The Waltons are beginning to pass the torch to their grandchildren. Voting rights over Walmart shares have been extended, and younger family members are taking active roles in the Walton Family Foundation, which supports education, conservation, and community initiatives.
How The Waltons Manage Their Wealth
The Walton family manages their over $500 billion wealth through Walton Enterprises, their central family office, which oversees investments, philanthropy, and most of their Walmart shares. Since 2020, the family has sold $25 billion in Walmart stock to fund investments and charitable work. The next generation now has voting rights over Walmart shares and plays active roles in the Walton Family Foundation.
