Sam Walton was a well-known businessman from America who was best known to be the founder of Walmart. As an entrepreneur, Walton has also founded Sam’s Club. He founded Walmart in 1962and as of 2017, it is available in 28 countries under different names. Sam’s Club was founded in 1983 and 2014; it exceeds sales over $57.157 billion. Here is a quick summary of Sam Walton’s net worth in 2018, career and earnings.
Samuel Moore Walton was born on March 209, 1918, in Kingfisher, Oklahoma, to his parents Nancy Lee and Thomas Gibson Walton. He used to live on a farm with his parents.
He completed his schooling at Columbia’s David H. Hickman High School. Following that, he earned his BA degree in economics from the University of Missouri in 1940. He was the president of Burrell Bible Class and was also an ROTC cadet. In college, Walton was the member of the Beta Theta Pi fraternity.
In February 1943, Sam Walton got married to Helen Robson. They were the parents of four children named Samuel Robson, John Thomas, James Carr, and Alice Louise.
Sam Walton died of multiple myeloma on 5th April 1992. He was 74 at the time of his death.
After completing his college, Sam Walton became a management trainee at J. C. Penney in Des Moines, Iowa. In there, he used to get a $75per month. He resigned from J. C. Penney in 1942 and got inducted into the U.S. Military. At the same time, he also used to work at a munitions plant of DuPoint.
Walton then joined United States Army Intelligence Corps and was positioned in Fort Douglas, Utah. He reached the rank of a captain and left the military in 1945. At the age of 26, he took a loan of $20,000 from his father and went on to buy a variety store, Ben Franklin.
He pioneered many concepts, and the sales of his business reached $225,000 in 3 years. He then went on to buy the Bentonville store.
In 1962, Sam Walton opened his first Walmart store in Rogers, Arkansas. In the beginning, he collaborated with Stefan Dasbach to expand his business. His one of the major driving forces was keeping the price low for the products.
In 1970, Walmart became public, and in the 1980s, he went on to start Sam’s Club. In 1988, he stepped down as the CEO of Walmart but remained with the company until his death.
Awards & Achievements
Sal Walton has appeared in the list of the wealthiest man in the USA by Forbes magazine from 1982 to 1988. In 1988, he appeared in the list of ‘100 most influential people of the 20th Century’ by Time magazine. He received the highest civilian honor ‘the Presidential Medal of Freedom’ in 1992 from George H. W. Bush. In 1992, he was inducted into the Junior Achievement U.S. Business Hall of Fame.
Net Worth of Sam Walton
Sam Walton had an estimated net worth of more than $8.6 billion at the time of his death in 1992. He has appeared several times in the list of wealthiest Americans by Forbes. He found considerable success in launching Walmart, which is a global brand today. He is remembered to be the founder of the retail corporation, and Walmart today has established itself to be a top name across the world. Following his death, Walton’s fortune was inherited by his wife and children.
Sam Walton is considered one of the most popular entrepreneurs in the world. He is also a philanthropist and strongly believes in the policy of giving back to the society. In 1979, he founded the Walmart Foundation and had also been supportive of various charitable causes.