Bud Walton, helped brother Sam build Wal-Mart empire

James L. "Bud" Walton, who helped his brother Sam found Wal-Mart Stores Inc. and became a billionaire in the process, has died at age 73.

Mr. Walton died Tuesday (March 21, 1995) in Miami of an aneurysm, said Jim von Gremp, longtime family friend and a state representative from Bentonville, where the retailing giant is based and Mr. Walton lived. He had gone to Florida on a fishing trip, von Gremp said.

In 1962, Sam and his younger brother opened the first Wal-Mart Discount City in Rogers. While Sam Walton was the leader in making the company the nation's largest retailer, his brother served as Wal-Mart's senior vice president and director, specializing in obtaining real estate and getting new store buildings erected.

Last October, Forbes magazine listed Bud Walton's wealth at $1-billion, ranking him as the 83rd richest man in the country. Other Walton relatives are ranked in the top 15.

In the book Sam Walton, The Inside Story of America's Richest Man, Sam Walton was quoted as saying that his brother "has common sense and superior judgment, and I have listened to him more times than folks realize."

Sam Walton died in 1992.

In Arkansas, Bud Walton was known for his $15-million donation to build the University of Arkansas basketball arena that is named for him.

Wal-Mart spokesman Don Shinkle said Mr. Walton died after surgery at a Miami hospital. The company ordered all Wal-Mart stores across the country _ there are more than 2,000 _ to fly their American flags at half-staff.

For the year to Jan. 31, Wal-Mart earned $2.68-billion, or $1.17 per share. Sales rose from $67.344-billion to $82.49-billion.

Bud Walton got into retailing because of his older brother. In 1940, Sam took a job with J. C. Penney at $85 a month. He was so impressed that he suggested that Bud apply to become a Penney trainee. Bud was accepted and assigned to a Penney store in Cedar Rapids, Iowa.