Early Life and Family
James Carr Walton, commonly known as Jim Walton, was born on June 7, 1948, in Newport, Arkansas. He is the third child of Sam Walton, the co-founder of Walmart, and Helen Walton. Jim has three siblings: Rob Walton, Alice Walton, and John Walton (who passed away in 2005). He grew up in Bentonville, Arkansas, and attended Bentonville High School, where he was president of his junior class. He also played football at the all-state level and learned to fly a plane.
Jim Walton went on to attend the University of Arkansas in Fayetteville, where he earned a Bachelor’s degree in Business Administration with a focus on Marketing in 1971. During his time at the university, he was a member of the Lambda Chi Alpha fraternity. After graduation, Walton joined Walmart in 1972 and initially worked on the company’s real-estate deals. In 1975, he transitioned to Walton Enterprises, the family-owned business, where he became the president.
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| Born | James Carr Walton June 7, 1948[1] |
| Education | University of Arkansas (BS) |
| Occupations | Businessman,stock trader |
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| Spouse | Lynne McNabb |
| Children | 4 |
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Career
Jim Walton’s business career saw him play significant roles in various organizations. In September 2005, he succeeded his late brother, John Walton, on the Walmart Board of Directors. Walton was also the CEO of Arvest Bank, a family-owned bank, and served as the Chairman of Arvest Bank and Community Publishers Inc. (CPI), a newspaper company he owned, which operates in Arkansas, Missouri, and Oklahoma. CPI was originally founded by his father, Sam Walton, after acquiring the Benton County Daily Record newspaper.
He has made significant contributions to the Walton Family Foundation, pledging around $2 billion along with his siblings between 2008 and 2013.
In September 2016, Walton’s net worth was reported to have exceeded $11 billion due to his ownership of over 152 million Walmart shares, contributing significantly to his wealth.
Personal Life
Jim Walton is married to Lynne McNabb Walton, and the couple has four children: Alice A. "Annie" Proietti, born in November 1979; Steuart Walton, born in April 1981; Thomas Layton "Tom" Walton, born in September 1983; and James M. Walton, born in August 1987. The Walton family resides in Bentonville, Arkansas.
In 2014, Walton was ranked #10 on the Forbes list of billionaires with a net worth of $34.7 billion, which had increased by $3 billion from the previous year. By 2013, he was listed as the 7th richest person in the United States, according to the Forbes 400.
As of March 2019, Walton was ranked 16th richest person in the world with an estimated net worth of $45.7 billion. However, his wealth continued to grow, and by September 28, 2024, Walton was ranked #17 on the Bloomberg Billionaires Index, with a net worth of $102 billion, reflecting a year-to-date increase of $29.8 billion.
Philanthropy
Jim Walton, along with his family, is known for their philanthropic efforts, particularly through the Walton Family Foundation, which focuses on improving education, community development, and other social causes. Through their foundation, the Walton family has donated billions of dollars, primarily in efforts to improve education and community infrastructure.
Jim Walton is considered a major contributor to various charitable and social causes, as well as a key player in Walmart’s continued success and evolution. His substantial wealth continues to place him among the wealthiest individuals globally.
References
- Editor (2019) Jim Walton’s Walk to Success, PEAKLIFE. Available at: https://peaklife.in/jim-waltons-walk-to-success/ (Accessed: 04 January 2025).
- Goodreturn (no date) Jim Walton & Family: Jim walton & family net worth, biography, age, spouse, children & more, Goodreturn. Available at: https://www.goodreturns.in/jim-walton-family-net-worth-and-biography-blnr18.html (Accessed: 04 January 2025).
- Jim Walton & Family (no date) Forbes. Available at: https://www.forbes.com/profile/jim-walton/#:~:text=Jim%20Walton%20is%20the%20youngest,son%2C%20Steuart%2C%20in%202016. (Accessed: 04 January 2025).