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Forbes ranked Sam Walton as the richest person in the United States from 1982 to 1988, ceding the top spot to John Kluge in 1989 when the editors began to credit Walton's fortune jointly to him and his four children. [37] (Bill Gates first headed the list in 1992, the year Walton died.) Wal-Mart Stores, Inc. also runs Sam's Club warehouse ...
Logo used since January 13, 2025 Sam Walton's original Walton's Five and Dime, now the Walmart Museum Visitor Center in Bentonville, Arkansas.. 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. [1]
In 1945, Sam and Helen Walton purchased their first Ben Franklin "variety store" in Newport, Arkansas. Within five years, Sam was able to make his Ben Franklin store the top franchise in the state.
The Original Goods. When Sam Walton opened the first Walmart on July 2, 1962 in Rogers, Arkansas, he wanted to give customers unparalleled bargains on a wide variety of products.
Walton's Five and Dime, now the Walmart Historical Museum, Bentonville. After Sam Walton married his daughter Helen, Robson became an active supporter of his business and financial affairs. In 1945, he provided Sam with his first business loan to open his first store that became Walton's Five-and-Dime in Bentonville, Arkansas.
The first Sam's Club was opened by Walmart, Inc. in 1983 in Midwest City, Oklahoma [306] under the name "Sam's Wholesale Club". The chain was named after its founder Sam Walton. As of October 31, 2022, Sam's Club operated 600 membership warehouse clubs and accounted for 11.3% of Walmart's revenue at $57.839 billion in fiscal year 2019.
In September 1945, Sam and Helen Walton opened a Ben Franklin "five and dime", their first retail store, in Newport, Arkansas. In 1950, they moved to Bentonville, Arkansas, and in 1962, they opened the first Wal-Mart. Sam Walton credits her for having the idea of the profit-sharing plan with the company's associates. [2]
Sam Walton, who later became the founder of Walmart, started in retailing operating a Ben Franklin store. Dollar Tree traces its roots to K. R. Perry, who in 1953 opened a Ben Franklin variety store in Norfolk, Virginia. In 1973, Michael J. Dupey converted a Ben Franklin store to start the Michaels chain in Texas.