Jim Walton, an American businessman and heir to the world’s largest retail chain, ‘Walmart,’ is known for his successful career and immense wealth. Born and raised in Bentonville City, Arkansas, he is the third child of Sam Walton, the co-founder of ‘Walmart.’ Jim’s passion for sports led him to excel in football during his school years, and he even obtained a pilot’s license. After earning a bachelor’s degree in Business Administration from the ‘University of Arkansas,’ he joined ‘Walmart’ and oversaw the company’s real estate dealings. Later, he became the president of ‘Walton Enterprises’ and joined the Board of Directors of ‘Walmart’ in 2005. Additionally, Jim served as the CEO of ‘Arvest Bank,’ a family-owned institution. With his remarkable achievements, Jim Walton has established himself as one of the wealthiest individuals in the world.
Quick Facts
- Also Known As: James Carr Walton
- Age: 75 Years, 75 Year Old Males
- Family:
- Spouse/Ex-: Lynne McNabb Walton
- Father: Sam Walton
- Mother: Helen Walton
- Siblings: Alice Walton, John Walton, Rob Walton
- Children: Alice Anne Walton, James M. Walton, Steuart Walton, Thomas Layton Walton, Well L. Walton
- Born Country: United States
- CEOs
- Retailers
- Notable Alumni: University Of Arkansas
- U.S. State: Arkansas
- More Facts
- Education: University Of Arkansas
Childhood & Early Life
Jim Walton was born James Carr Walton on June 7, 1948, in Newport, Arkansas, to Sam and Helen Walton. He was born into one of the richest business families in the country. His father, Sam, co-founded the world’s largest retailer company ‘Walmart’ with his brother, Bud Walton, in 1962 when Jim was 14 years old. Jim was the third child in the family and had three other siblings – Rob, John, and Alice Walton. He attended local schools in Bentonville, Arkansas. Besides academics, he was also good in sports and athletics, particularly football. He played at the all-state level with his high school team, Bentonville High School. He was also the president of his junior class in school. Despite his talent in football, Jim knew from an early age that he wanted to join the family business. He attended the University of Arkansas and earned a bachelor’s degree in Business Administration. During his university years, he was a member of the Lambda Chi Alpha fraternity.
Career
After graduating from college in 1971, Jim took a year-long break to explore the world. He traveled and learned to fly a plane. He then returned to Arkansas and joined the family business. In 1972, he began working in Walmart, starting with the real estate wing of the company. After four years, he expressed his interest in joining Walton Enterprises, a company owned by his father, Sam Walton. In the mid-1970s, he became the president of Walton Enterprises. Jim also showed a keen interest in banking and became the CEO of Arvest Bank, which was owned by his father. Under Jim’s leadership, the bank grew exponentially and acquired many small banks. All three brothers – Jim, John, and Rob – hold an equal 25.88% shares in the bank. Jim has been using the same business model his father used to expand Walmart. In addition to banking, the Walton family also owns a newspaper called Community Publishers Inc., which was initially bought by Sam for marketing purposes.
Personal Life
Jim Walton is married to Lynne McNabb Walton, and they have four children together. He currently lives with his family in Bentonville, Arkansas. Jim is known to be a shy individual who prefers to stay out of the limelight. He does not have any direct connection with politics, but he has been known as a supporter of white supremacist politicians, such as Jason Rapert.
Net Worth
In 2016, it was reported that Jim owned 152 million shares in Walmart, valued at $11 billion. His net worth was estimated to be around $41.9 billion in March 2018, making him one of the richest persons in the world. Jim is also a regular contributor to the Walton Family Foundation.