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Samuel Moore Walton (March 29, 1918 – April 5, 1992) was an American business magnate best known for founding the retailers Walmart and Sam's Club, which he started in Rogers, Arkansas, and Midwest City, Oklahoma, in 1962 and 1983 respectively.
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 1953, Walton Enterprises was established. Sam, Helen, and their four children Rob, John, Jim and Alice were all partners of the company per the legal documents. Sam and Helen owned 20% together while each child owned 20% personally. [3] [4] According to Sam, their Walmart stocks went into WEI.
Walmart founder Sam Walton and his wife Helen, on their wedding day, February 14, 1943. At the time, Sam was a management trainee with the J.C. Penney Company. Photo: Courtesy of Walmart.
Sam Walton operated nine Ben Franklin variety stores in 1960, but he sensed the future of retail wasn’t in variety stores. Discount stores, instead, was the concept consumers would want, he knew.
The Walton family is still the major shareholder of Walmart Inc. The children of Walmart founder Sam Walton own about half of all Walmart shares , according to official company documents.
The majority of the family's wealth derives from the heritage of Bud and Sam Walton, who were the co-founders of Walmart. Walmart is the world's largest retailer, one of the world's largest business enterprises in terms of annual revenue, and, with just over 2.2 million employees, the world's largest private employer.
The Walton family is worth more than $330 billion, dwarfing Elon Musk's $237 billion fortune. They owe some of their wealth to a savvy decision by Walmart founder Sam Walton over 70 years ago.