Alice Louise Walton (born October 7, 1949) is an American heiress and the daughter of Walmart founder Sam Walton. She inherited a substantial portion of her father's wealth and, in September 2016, owned over $11 billion in Walmart shares. As of November 2023, Walton's net worth is estimated at $71 billion, making her the 17th richest person in the world and the second-richest woman, following Françoise Bettencourt Meyers, according to the Bloomberg Billionaires Index.
Early Life and Education
Alice Louise Walton was born in Newport, Arkansas, on October 7, 1949. She was raised alongside her three brothers in Bentonville, Arkansas, the hometown of Walmart, the retail giant founded by her father, Sam Walton. Walton graduated from Bentonville High School in 1966.
After high school, Walton attended Trinity University in San Antonio, Texas, where she earned a Bachelor of Arts (B.A.) in economics. This academic background in economics laid the foundation for her future involvement in both business and philanthropy.
Career
 | |
| Born | Alice Louise Walton October 7, 1949 Newport, Arkansas, U.S. |
| Education | Trinity University (BA) |
| Occupations | Heiress, Walton family fortune |
| Political party | Independent |
| Known for | Heiress, Walton family fortune |
| parents |
|
| Relatives |
|
Alice Walton has had a diverse career, with significant roles in finance, business, and regional development. Early in her professional life, Walton worked as an equity analyst and money manager for First Commerce Corporation. She also served as a broker for EF Hutton and was involved in investment activities at Arvest Bank Group.
In 1988, Walton founded the Llama Company, an investment bank where she held several leadership positions, including president, chairwoman, and CEO. Llama Company played a role in the financial landscape until its closure in 1998.
Walton is also known for her leadership in regional development. She was the first person to chair the Northwest Arkansas Council, where she played a key role in the development of the Northwest Arkansas Regional Airport, which opened in 1998. Recognizing the need for a regional airport, Walton contributed $15 million in initial funding for the project, and Llama Company underwrote a $79.5 million bond for its construction. Her contributions were celebrated with the naming of the Alice L. Walton Terminal Building in her honor at the airport. Walton's work in aviation earned her an induction into the Arkansas Aviation Hall of Fame in 2001.
Walton's career has been marked by her involvement in both finance and civic development, reflecting her strong business acumen and commitment to her community. In Sam Walton's 1992 autobiography, Made in America, he described Alice as "the most like me—a maverick—but even more volatile than I am.
Art
Alice Walton has had a lifelong passion for art, which began during her childhood. She and her mother would often paint watercolors on camping trips, fostering a deep appreciation for the medium. Walton's first art purchase was a print of Picasso's Blue Nude when she was just ten years old, spending five weeks' worth of allowance on it. Her first major museum-quality purchase was in the late 1980s, when she acquired two Winslow Homer watercolors.
Walton's art collection grew significantly over the years, with notable acquisitions that include works by prominent American artists. In 2004, Walton purchased art from the collection of Daniel and Rita Fraad at a Sotheby's auction in New York. The following year, she acquired Asher Brown Durand's painting, Kindred Spirits, for an estimated $35 million in a sealed-bid auction. The 1849 painting, a tribute to Hudson River School painter Thomas Cole, had been gifted to the New York Public Library in 1904 by Julia Bryant, daughter of poet William Cullen Bryant, who is depicted in the artwork with Cole.
Walton has also purchased works by iconic American artists like Winslow Homer, Edward Hopper, Georgia O'Keeffe, and Norman Rockwell. Among her acquisitions is Rockwell's famous painting, Rosie the Riveter, which she purchased for $4.9 million in 2009.
Her collection reflects a diverse range of interests, including works that explore themes of emotion and spirituality. Walton has spoken about her love for the works of Marsden Hartley and Andrew Wyeth, appreciating the depth of feeling they convey. Other artists whose works Walton has acquired include Mark Rothko, Kehinde Wiley, and Titus Kaphar.
Crystal Bridges Museum of American Art
Walton's passion for art culminated in the creation of the Crystal Bridges Museum of American Art in Bentonville, Arkansas, developed through the Walton Family Foundation. Designed by architect Moshe Safdie, the museum spans 200,000 square feet and is situated on 120 acres of Walton family land. Crystal Bridges opened its doors in 2011 and has since attracted over 5 million visitors as of 2021. The museum, which is free to attend, serves as a significant cultural institution, with Walton citing her primary motivation as providing access to art for people who had never before experienced it.
Political Contributions
Alice Walton has made notable political contributions over the years. In the 2004 U.S. presidential election, she was the 20th-largest individual contributor to 527 committees, donating $2.6 million to the conservative group Progress for America. In 2012, Walton contributed $200,000 to Restore Our Future, a super PAC supporting Mitt Romney's presidential campaign. She also made a significant donation of $353,400 to the Hillary Victory Fund in 2016, a joint fundraising committee backing Hillary Clinton and other Democratic candidates.
Philanthropy
Alice Walton has a long history of philanthropic activities, particularly in the fields of arts, education, healthcare, and economic development. In 2016, Walton donated $225 million to the Walton Family Holdings Trust, which supports the family's philanthropic endeavors. Walton's contributions are instrumental in advancing projects that focus on enhancing cultural and community development.
In 2017, Walton established the Alice L. Walton Foundation, which focuses on promoting the arts, education, health, and improving economic opportunities. The foundation made a notable contribution of $3 million to the University of Central Arkansas for its fine arts program in 2020. That year, Walton’s foundation also provided a $1.28 million grant to the University of Arkansas for Medical Sciences, helping expand a program providing healthy food to schools. Additionally, in 2022, Walton’s foundation gave $3.5 million to the Northwest Arkansas Food Bank, supporting the construction of a food distribution center and funding food distribution.
Walton also founded the Art Bridges Foundation in 2017, which collaborates with smaller and regional museums to provide cultural resources. The foundation’s efforts include funding, loaning collections, and organizing traveling exhibits. As of 2021, Art Bridges had about 30 exhibits traveling across the United States. Walton has emphasized the importance of reducing the amount of art kept in storage. She also established the Arts Bridges Fellows Program, aimed at increasing diversity in the arts community.
Healthcare Initiatives
In 2019, Walton launched the Whole Health Institute, which works with healthcare systems, employers, and communities to expand access to holistic healthcare. Building on this initiative, Walton announced plans in 2021 to create a nonprofit medical school in Bentonville, the Alice L. Walton School of Medicine, which will focus on allopathic medicine. Construction for the school began in 2023, with the first class expected to enroll in 2025, pending accreditation.
Walton's healthcare philanthropy also includes a partnership with the Cleveland Clinic in 2021 to evaluate healthcare needs in Northwest Arkansas. In 2022, Walton and the Washington Regional Medical System unveiled plans to create a nonprofit medical system focused on training doctors in specialty areas such as oncology, cardiology, and neurology.
Personal Life
Walton married a prominent Louisiana investment banker in 1974 at the age of 24, but the couple divorced two and a half years later. Shortly thereafter, she remarried the contractor who had built her swimming pool; this marriage also ended in divorce after a brief period.
Walton has been involved in several automobile accidents. In 1983, during a Thanksgiving family reunion near Acapulco, she lost control of a rented Jeep, plunging into a ravine and shattering her leg. She was airlifted from Mexico and underwent more than two dozen surgeries. Walton continues to experience lingering pain from these injuries. In 1989, she was involved in a fatal accident in Fayetteville, Arkansas, where she struck and killed 50-year-old Oleta Hardin, who had stepped onto a road. No charges were filed. In 1998, Walton was fined $925 after hitting a gas meter while driving under the influence of alcohol.
In 1998, Walton relocated to Walton's Rocking W Ranch in Millsap, Texas. A passionate horse enthusiast, she gained recognition for her ability to identify which 2-month-old horses would grow into champion cutters. She sold the ranch in 2015 and moved to Fort Worth, Texas, to focus on her work with the Crystal Bridges Museum of American Art. Walton returned to Bentonville in 2020.
References
- About Alice L. Walton (2024) Alice Walton - All people deserve access to a life filled with opportunity. Available at: https://alicelwaltonfoundation.org/about/ (Accessed: 04 January 2025).
- Alice Walton (no date) Forbes. Available at: https://www.forbes.com/profile/alice-walton/ (Accessed: 04 January 2025).
- Category:Alice Walton (no date) Wikimedia Commons. Available at: https://commons.wikimedia.org/wiki/Category:Alice_Walton (Accessed: 04 January 2025).
- Goodreturn (no date) Alice Walton: Alice Walton Net Worth, biography, age, spouse, children & more, Goodreturn. Available at: https://www.goodreturns.in/alice-walton-net-worth-and-biography-blnr20.html (Accessed: 04 January 2025).