Who is Sam Walton?
Sam Walton was an American businessman who founded Walmart stores. It developed into the world's largest private employer, along with revenue in the world. Established in 1962, the company today has thousands of stores all over the world. Sam Walton spent years in the retail management business before opening the first Walmart store. He was born into a peasant family in the late 1910s.
Sam Walton Early Life
Despite the weak economic condition of the family, the young boy did many things to contribute to his family's income and it taught him the value of hard work and determination at an early age. Walton enrolled at the University of Missouri and received a bachelor's degree in economics.
He was born on March 29, 1918 in Kingfisher (Oklahoma, U.S.) to Thomas Gibson Walton and Nancy Lee as Samuel Moore Walton. He had a younger brother, James. His father was a farmer who later also entered the field of farming. Because there was not enough money available for his family.
Sam Walton Family
The family often had to flee during Sam's early childhood. He was a good student and became the youngest Eagle Scout in Missouri history studying in eighth grade at Shelbina, Missouri.
His family eventually settled in Colombia. He grew up during the Depression and did many minor tasks to help his family, who were struggling to meet their economic needs. Among other works, he sold magazine subscriptions and distributed newspapers. Sam Walton brought up the family cow, sold the surplus milk bottle to customers.
Sam Walton’s Business
Walton J. after his undergraduate days. Joined Des Moines (Iowa) with C. Penny as a management trainee. Sam Walton resigned from the job in 1942 to serve in World War II. Prior to enlisting in the Army, he worked briefly at the DuPont Munnings plant near Tulsa, Oklahoma.
He joined the US Army Intelligence Corps and inspected the security of prisoners of aircraft plants and war camps. Eventually rose to the rank of captain in his army career and returned to civilian life after the war ended.
Borrowed some money from his father-in-law and in 1945 bought a Ben Franklin variety store in Newport, Arkansas. The store was a franchisee of the Butler Brothers chain..
Sam Walton Net Worth
Over the next few years, many Walmart stores spread across the country, and by 1967 the Walton family had 24 stores. Which grossed $ 12.7 million in sales. The company went public in 1970 and the first stock was sold for $ 16.50 per share. By 1972, Wal-Mart was listed on the New York Stock Exchange (WMT). By 1980, the company had reached $ 1 billion in annual sales.
Ever-innovator Sam Walton launched the first Sam's Club to serve small businesses and individuals in the 1980s. In which a supermarket was combined with general merchandise to provide one-stop shopping.
Walmart continued to have success over the coming years and in the early 1990s, the company's stock was valued at $ 45 billion. In 1991, Walmart surpassed Sears, Roebuck & Co. to become the nation's largest retailer.
Walton stepped in as CEO in 1988 and he remained active in the company until his death in 1992.
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Founded in the United States in 1962, the company is now a multinational company with over 11,000 stores in 28 countries under a total of 65 banners. Walmart is the world's largest private employer in revenue as well.
Sam Walton’s Social Work
Sam Walton had a strong faith in giving back to society. Which was focusing on the main areas of opportunity, sustainability and community.
Along with his wife he supported various charitable causes and remained active at First Presbyterian Church in Bentonville, where he served as a Ruling Elder and Sunday School teacher. He also made considerable financial contributions to the church.
Awards and achievements
- From 1982 to 1988, Forbes magazine named Walton the richest person in the United States.
- In 1992, Sam Walton received President George H.W. The President's Medal was awarded by Bush, the nation's highest civilian honor.
- In 1998, Walton was included in the list of the 100 most influential people of the 20th century.
Sam Walton’s Personal Life
Sam Walton married Helen Robson on 14 February 1943. The couple had four children - three sons and a daughter. Walton loved hunting. Along with his wife, he was active in the church and also taught in Sunday School. The Walton family also supported various charitable causes.
He suffered from two types of cancer: hair-cell leukemia and bone marrow cancer. Sam Walton died on 5 April 1992 when he was 74 years old.