Jim Walton is the youngest son of Sam Walton, the founder of Walmart Inc. He served on the board of Walmart from 2005 to 2016 and is in recent times chair of the Arvest Monetary establishment Team.
As an heir to the Walmart fortune, Jim Walton boasts a internet value of $61.3 billion in 2023.
Key Takeaways
- Jim Walton is the youngest son of Walmart founder Sam Walton.
- He held a seat on the board of directors of Walmart from 2005 to 2016 following the lack of lifetime of his brother, John.
- Walton is the chair of Arvest Monetary establishment Team.
- Jim Walton’s son develop into the principle of the third era of Waltons to think a board seat at Walmart Inc.
Investopedia / Alex Dos Diaz
Early Existence and Education
Jim Walton used to be as soon as born on June 7, 1948, in Newport, Arkansas. The third and youngest son of Walmart founder Sam Walton, Jim Walton earned a bachelor’s degree in promoting and advertising at the School of Arkansas in 1971. He traveled widely and earned a pilot’s license forward of turning into a member of the members of the family business in 1972.
Walmart
Walmart used to be as soon as primarily based in 1962 by way of Sam Walton as a small cut price retailer in Rogers, Arkansas. A publicly-traded company since 1970, Walmart in recent times has over 11,000 stores in the united states and the world over. As of 2022, Walmart employed with reference to 1.6 million people in the united states.
The Waltons are considered the wealthiest members of the family in the world with an estimated internet value of $238 billion in 2021. Collectively, Jim Walton and other heirs of Sam Walton private a part of all Walmart stock.
In 1972, Jim Walton joined Walmart in the actual assets operations division. He moved to his members of the family’s umbrella corporate, Walton Enterprises, in 1975, where he served in brief as president. Jim Walton’s pastime in banking led him to the members of the family’s company, Arvest Monetary establishment Team, where he remains this present day.
While protective his position at Arvest, he rejoined Walmart to think the vacant board position after the lack of lifetime of his brother John in 2005.
Arvest Monetary establishment Team
Jim Walton is in recent times chair and chief executive officer of Arvest Monetary establishment Team, a Walton-owned regional monetary establishment that operates more than 260 banks in more than 100 communities throughout Arkansas, Missouri, and Oklahoma.
The Walton members of the family created Arvest through its purchases of the Monetary establishment of Bentonville in 1961, the Monetary establishment of Pea Ridge in 1963, and the First National Monetary establishment & Accept as true with Company in 1975. Arvest expanded in 2013 with the purchase of 29 Monetary establishment of The united states puts throughout the house. As of 2022, Arvest Monetary establishment Team had property exceeding $20 billion and used to be as soon as ranked an important monetary establishment in Arkansas by way of deposits and some of the a very powerful greatest in Oklahoma by way of the number of branches.
Philanthropy
Jim Walton has made actually intensive donations to the Walton Family Foundation, a family-led crew. 3 generations of the descendants of Sam and Helen Walton art work to give a boost to Ok-12 education, protect rivers and oceans and the communities they reinforce, and spend cash at the house of Northwest Arkansas and the Arkansas-Mississippi Delta.
In 2020, the foundation awarded $749.5 million in grants to further our endeavor.
Which Generations of the Walton Family Hold Control Positions at Walmart Inc.?
Along side participants of the second era, Jim Walton’s son Steuart Walton used to be as soon as elected to the board and is the principle member of the Walton members of the family’s third era to join the company’s control in 2016.
What Is Jim Walton’s Pastime in Charter Schools?
All over the Walton Family Foundation, Jim and his sister Alice have spearheaded a endeavor established for the reason that Charter Impact Fund to offer long-term, fixed-rate loans to high-performing charter schools around the country.
What Is Group Publishers Inc.?
Jim Walton used to be as soon as the chair of Group Publishers Inc., primarily based in 1982 as a bunch newspaper and trade printer supporting publications in Arkansas, Missouri, and Oklahoma. His father, Sam Walton, won the Benton County Day by day File, and Jim Walton expanded its presence through CPI until its sale to Berkshire Hathaway in 2015.
The Bottom Line
For the reason that youngest son of Walmart founder Sam Walton, Jim Walton has contributed to his members of the family business for a few years. He serves as chair of the members of the family’s Arvest Monetary establishment Team and plays an lively serve as throughout the Walton Family Foundation.
