The estimated net worth of Jim Walton is $61 billion.
Jim is most known for being the heir to the Walmart empire. Walmart is the world’s largest retailer and has offices, subsidiaries, factories, and more all over the world. Jim is currently ranked as the 18th richest person on the planet.
Overview
Jim Walton's net worth stats
| Net worth: | $61 billion |
|---|---|
| Source of wealth: | Inheritance |
| Date of birth: | June 7, 1948 |
| Place of birth: | Newport, Arkansas |
Early life
Jim is the youngest child of the original co-founder of Walmart, Sam Walton. He grew up with his siblings, Rob Walton, Alice Walton, and the late John Walton. He played football in high school at the all-state level and even became a novice pilot.
Education
Jim graduated in 1965 from Bentonville High School and obtained a BA in Business Administration. He graduated in 1971 from the University of Arkansas in Fayetteville, Arkansas. He had above-average performance in his classes. He was also a part of the Lambda Chi Alpha fraternity during his college years.
How did Jim Walton build his net worth?
Jim Walton inherited his wealth from his father, the founder of Walmart. Upon graduation, he started working with the company on the real estate side of the company. He stayed in the property wing for four years and became Walton Enterprises president in 1975. Jim did not take over Walmart board operations until his brother died in 2005. He is on two Walmart committees, specifically strategic planning, and finance.
Walton was also CEO of the family bank, Arvest Bank, until he transitioned into the chairmanship role. He also helps run the Walton Family Foundation with his surviving siblings. The bulk of his wealth comes from family-owed legacy shares in Walmart. The last calculation listed Jim as owning just over 152 million shares in the company. The approximate value of those shares tops out at $12 billion as of 2021.
Although he is heir to a massive fortune, some controversies surround the company.
Workers are paid very low wages, and there have been human rights abuse claims in their supply chain. One of the larger claims was the Rana Plaza collapse in Bangladesh in one of their contracted factories. Hundreds of people died, and thousands were injured. Walmart denied any liability.
How has Jim Walton spent his wealth?
Jim Walton's wealth has enabled him to maintain an affluent lifestyle, with investments in real estate and other assets. He owns several properties, including a luxurious home in Bentonville, Arkansas.
Although Jim is known for keeping a relatively low profile, he has been involved in philanthropic activities. The Walton Family Foundation, established by his parents, has contributed to various causes, including K-12 education, environmental conservation, and community development. Jim has continued his family's tradition of philanthropy, supporting these initiatives and ensuring their ongoing success.
FAQs
How rich is Jim Walton?
How much is Jim Walton worth? A cool $61 billion is more than several countries' net worth. His wealth grows in line with Walmart's stock valuation.
Image sourced: Wikimedia
