The Walton family empire: Inside the relatively modest lives of the Walmart heirs (2024)

Table of Contents

Sam Walton opened the first Walmart store in Arkansas in 1962. He married Helen Robson on Valentine's Day in 1942, and together they had four children: Rob, John, Jim, and Alice. By the time Sam died in 1992, he had set up the company ownership in a way that minimized the estate taxes anyone on the receiving end of his will had to pay. He set up his ownership of Walmart's stock in a family partnership — each of his children held 20% of Walton Enterprises, while he and Helen each held 10%. Helen inherited Sam's 10% tax-free when he died. Samuel Robson "Rob" Walton is the oldest Walton child. He served as chairman of Walmart until 2015. Rob recently made a splash by leading an ownership group to buy the Denver Broncos. His ownership group, which includes his daughter, Carrie Walton Penner, and son-in-law, Greg Penner, purchased the NFL team for a record $4.65 billion in summer 2022. Rob has a house in Paradise Valley, Arizona, near the base of Camelback Mountain. In the past, protesters have rallied outside of his Arizona home to advocate for better wages and benefits for Walmart workers. Rob also has a large collection of vintage cars. In 2013, he ran his Daytona Coupe, which was worth $15 million at the time, off the tracks and wrecked it. The car was one of only five ever made. John was the second-oldest child. He died in a plane crash in 2005. He was married to Christy Walton and had one son, Lukas. John left about 17% of his wealth to his wife, and he gave the rest to charity and to his son. John served in Vietnam as a Green Beret. When he returned from the war he held a series of jobs — like the Walmart company pilot, a crop duster, and the owner a few yachting companies — before becoming a Walmart board member. In 2013, Christy decided to sell their Jackson Hole mansion. She also sold the family's ranch for an undisclosed price in 2016 after listing it for $100 million in 2011. The 8,606-square-foot home was put on the market for $12.5 million. James "Jim" Walton is the youngest son. He is chairman of the board of the family's Arvest Bank, which has assets that total more than $26 billion. He also served on the Walmart board before being replaced by his son Steuart in 2016. Now, he presides over Walton Enterprises — the private company that deals with the investments and finances of the Walton family only — from modest offices in Bentonville, Arkansas. The youngest sibling, Alice Walton, is worth $65.6 billion, according to Bloomberg. She has been divorced twice and has no children. Alice has never taken an active role in running the family business. Instead, she became a patron of the arts, which she fell in love with at a young age. When she was 10, she bought her first work of art: a reproduction of Picasso's "Blue Nude" for about $2, she told The New Yorker. She has an immense private art collection, with original works from Andy Warhol and Georgia O'Keeffe. Alice opened a museum in Bentonville called Crystal Bridges in 2011 to house her $500 million private art collection. The collection includes a Georgia O'Keeffe painting that Alice spent $44.4 million on in 2014 — the biggest sale for a woman's piece of art in history. When it opened, Crystal Bridges had four times the endowment of the famous Whitney Museum in New York. The museum's grounds are filled with flora ... ... and surrounded by streams that make it look like the buildings float on water. It's so beautiful that people use it as a wedding and special-events venue. Alice is also a breeder of horses. Her Millsap, Texas, property, Rocking W Ranch, sold to the Three Amigos Investment Group of Kermit, Texas, in September 2017 for an undisclosed amount. It had an initial asking price of $19.75 million, which was reduced to $16.5 million. The working ranch had over 250 acres of pasture and outbuildings for cattle and horses. Her other, 4,416-acre Texas ranch was previously listed at a reduced price of $22 million. The modest, three-bedroom, two-bathroom home overlooks the Brazos River. Alice also owns a two-floor condo on New York's Park Ave., which she bought for $25 million in 2014. It has more than 52 large windows overlooking Central Park plus a media room, a winding staircase, and more than 6,000 total square feet of space. Sam and Helen started the foundation as a way to teach their children how to give back and how to work together. The charity awards millions of dollars in grants, each helping a cause that aligns with the foundation's values. According to its website, the foundation awarded $749.5 million in grants in 2020. The foundation has three main areas of focus: The foundation's focus on education was led by John. His brother Jim said John was really interested in being able to give parents choices when it came to their child's schooling. Rob spearheaded the foundation's venture into environmental outreach. One of the first grants they gave helped develop a sustainable fisheries label. A commitment to the family's home of Arkansas is another large part of the foundation. Whether it's creating a system of mountain-bike trails through the Ozarks or developing the grounds around Crystal Bridges, the Waltons are celebrating the community that helped their family get to where they are. Walmart Inc., which owns Walmart and Sam's Club, is the largest retailer in the US in terms of revenue, with sales of roughly $573 billion per year. When Walmart has a good quarter, the Waltons make hundreds of millions of dollars in dividends. The company reported in November 2022 that third-quarter same-store sales in the US had risen 8.2% compared with the year prior. Even though the Walton family is raking in billions as a result of the company's success, they remain relatively under-the-radar in terms of flashing their wealth — much like their patriarch, Sam, did in the early years. FAQs

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Rachel Askinasi, Mary Hanbury, and Ben Tobin

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2023-04-15T14:05:06Z

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (1)

The Walmart heirs' combined worth is roughly $234 billion, according to Bloomberg.
The family grants money and resources to support education, environmental efforts, and their home community through the Walton Family Foundation.
In public, the Waltons live pretty modest lifestyles despite their wealth. Here's how they spend their fortune.

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The combined wealth of the Walmart heirs — which includes Rob, Jim, and Alice, as well as John's wife, Christy, and their son Lukas — is roughly $234 billion, according to Bloomberg's Billionaire Index.

While some work in the family business — whether that's serving on the company board or working to manage the family's wealth — others chose to pursue areas of personal passion.

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Sam Walton, the original man behind the company that now encompasses both Walmart and Sam's Club, set his family up for financial success when he divided the ownership before he died.

He wasn't a man of flashy luxury, but you can see how his children are living a slightly more lavish life now.

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Sam Walton opened the first Walmart store in Arkansas in 1962.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (5)

He married Helen Robson on Valentine's Day in 1942, and together they had four children: Rob, John, Jim, and Alice.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (6)

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By the time Sam died in 1992, he had set up the company ownership in a way that minimized the estate taxes anyone on the receiving end of his will had to pay.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (7)

Source: Fortune

He set up his ownership of Walmart's stock in a family partnership — each of his children held 20% of Walton Enterprises, while he and Helen each held 10%. Helen inherited Sam's 10% tax-free when he died.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (8)

Source: Fortune

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Samuel Robson "Rob" Walton is the oldest Walton child.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (9)

He served as chairman of Walmart until 2015.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (10)

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Rob recently made a splash by leading an ownership group to buy the Denver Broncos.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (11)

His ownership group, which includes his daughter, Carrie Walton Penner, and son-in-law, Greg Penner, purchased the NFL team for a record $4.65 billion in summer 2022.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (12)

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Rob has a house in Paradise Valley, Arizona, near the base of Camelback Mountain.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (13)

In the past, protesters have rallied outside of his Arizona home to advocate for better wages and benefits for Walmart workers.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (14)

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Rob also has a large collection of vintage cars.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (15)

In 2013, he ran his Daytona Coupe, which was worth $15 million at the time, off the tracks and wrecked it. The car was one of only five ever made.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (16)

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John was the second-oldest child. He died in a plane crash in 2005.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (17)

He was married to Christy Walton and had one son, Lukas.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (18)

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John left about 17% of his wealth to his wife, and he gave the rest to charity and to his son.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (19)

Source: Business Insider

John served in Vietnam as a Green Beret. When he returned from the war he held a series of jobs — like the Walmart company pilot, a crop duster, and the owner a few yachting companies — before becoming a Walmart board member.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (20)

Source: Fortune

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In 2013, Christy decided to sell their Jackson Hole mansion. She also sold the family's ranch for an undisclosed price in 2016 after listing it for $100 million in 2011.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (21)

Source: Curbed and Ranch Marketing Associates

The 8,606-square-foot home was put on the market for $12.5 million.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (22)

Source: Curbed

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James "Jim" Walton is the youngest son.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (23)

He is chairman of the board of the family's Arvest Bank, which has assets that total more than $26 billion.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (24)

Source: Bloomberg

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He also served on the Walmart board before being replaced by his son Steuart in 2016.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (25)

Now, he presides over Walton Enterprises — the private company that deals with the investments and finances of the Walton family only — from modest offices in Bentonville, Arkansas.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (26)

Source: Fortune

The youngest sibling, Alice Walton, is worth $65.6 billion, according to Bloomberg. She has been divorced twice and has no children.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (27)

Alice has never taken an active role in running the family business.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (28)

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Instead, she became a patron of the arts, which she fell in love with at a young age.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (29)

When she was 10, she bought her first work of art: a reproduction of Picasso's "Blue Nude" for about $2, she told The New Yorker.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (30)

Source:The New Yorker

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She has an immense private art collection, with original works from Andy Warhol and Georgia O'Keeffe.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (31)

Alice opened a museum in Bentonville called Crystal Bridges in 2011 to house her $500 million private art collection.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (32)

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The collection includes a Georgia O'Keeffe painting that Alice spent $44.4 million on in 2014 — the biggest sale for a woman's piece of art in history.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (33)

Source: The Observer

When it opened, Crystal Bridges had four times the endowment of the famous Whitney Museum in New York.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (34)

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The museum's grounds are filled with flora ...

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (35)

... and surrounded by streams that make it look like the buildings float on water.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (36)

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It's so beautiful that people use it as a wedding and special-events venue.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (37)

Source: Crystal Bridges

Alice is also a breeder of horses.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (38)

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Her Millsap, Texas, property, Rocking W Ranch, sold to the Three Amigos Investment Group of Kermit, Texas, in September 2017 for an undisclosed amount.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (39)

Source: Star-Telegram

It had an initial asking price of $19.75 million, which was reduced to $16.5 million. The working ranch had over 250 acres of pasture and outbuildings for cattle and horses.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (40)

Source:WilliamsTrew

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Her other, 4,416-acre Texas ranch was previously listed at a reduced price of $22 million.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (41)

Source: Fortune

The modest, three-bedroom, two-bathroom home overlooks the Brazos River.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (42)

Advertisem*nt

Alice also owns a two-floor condo on New York's Park Ave., which she bought for $25 million in 2014.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (43)

Source: Business Insider

It has more than 52 large windows overlooking Central Park plus a media room, a winding staircase, and more than 6,000 total square feet of space.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (44)

Source: Business Insider

Advertisem*nt

Sam and Helen started the foundation as a way to teach their children how to give back and how to work together.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (45)

Advertisem*nt

The charity awards millions of dollars in grants, each helping a cause that aligns with the foundation's values. According to its website, the foundation awarded $749.5 million in grants in 2020.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (46)

The foundation has three main areas of focus:

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (47)

Advertisem*nt

The foundation's focus on education was led by John. His brother Jim said John was really interested in being able to give parents choices when it came to their child's schooling.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (48)

Source: Walton Family Foundation

Rob spearheaded the foundation's venture into environmental outreach. One of the first grants they gave helped develop a sustainable fisheries label.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (49)

Source: Walton Family Foundation

Advertisem*nt

A commitment to the family's home of Arkansas is another large part of the foundation. Whether it's creating a system of mountain-bike trails through the Ozarks or developing the grounds around Crystal Bridges, the Waltons are celebrating the community that helped their family get to where they are.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (50)

Source: Walton Family Foundation

Walmart Inc., which owns Walmart and Sam's Club, is the largest retailer in the US in terms of revenue, with sales of roughly $573 billion per year.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (51)

Source: Fortune

Advertisem*nt

When Walmart has a good quarter, the Waltons make hundreds of millions of dollars in dividends.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (52)

Source: Forbesand The Guardian

The company reported in November 2022 that third-quarter same-store sales in the US had risen 8.2% compared with the year prior.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (53)

Source:Walmart

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Even though the Walton family is raking in billions as a result of the company's success, they remain relatively under-the-radar in terms of flashing their wealth — much like their patriarch, Sam, did in the early years.

The Walton family empire: Inside the relatively modest lives of the Walmart heirs (54)

Source: Fortune

FAQs

Who are the heirs of the Walton family? ›

Here's how they spend their fortune.

The combined wealth of the Walmart heirs — which includes founder Sam Walton's children, Rob, Jim, and Alice, as well as his late son John's wife, Christy, and their son Lukas — is roughly $240 billion, according to the Bloomberg Billionaires Index.

Discover More Details ›

How much are the Walmart heirs worth? ›

He and his 2 siblings are worth a combined $228 billion — more than Jeff Bezos or Elon Musk. Walmart heir Rob Walton just stepped down from the retailer's board after four decades. He and his two siblings have added more than $100 billion to their net worth in recent years.

See Details ›

Where do the Walmart heirs live? ›

About the 5&10

In 1950, the Walton family – Sam and Helen, sons, Rob, John, and Jim, and daughter Alice Walton – moved to Bentonville in northwest Arkansas from the eastern side of the state.

Get More Info Here ›

Does the Walton family still own Walmart? ›

The Walton family owns about 45% of Walmart's outstanding shares through the trust and their main investment vehicle, Walton Enterprises, data compiled by Bloomberg show. Alice, Jim and Rob Walton have a combined fortune of $274 billion, according to the Bloomberg Billionaires Index.

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Are any of the Walton family still alive? ›

The three most prominent living members (Jim, Rob, and Alice Walton) have consistently been in the top twenty of the Forbes 400 list since 2001, as were John ( d. 2005) and Helen (d. 2007) prior to their deaths. Christy Walton took her husband John's place in the ranking after his death.

Get More Info Here ›

Is the Walton family still rich? ›

He and his two siblings have more than doubled their money since 2016, adding more than $100 billion to their combined fortunes. Legendary founder Sam Walton's three surviving children — Rob, Jim, and Alice — all rank highly on the Forbes rich list with personal fortunes of between $72 billion and $79 billion.

Learn More Now ›

What family runs Walmart? ›

On July 2, 1962, Sam Walton opens the first Walmart store in Rogers, Arkansas. The Walton family owns 24 stores, ringing up $12.7 million in sales. The company officially incorporates as Wal-Mart Stores, Inc.

Read On ›

Who currently owns Walmart? ›

It is a publicly traded family-owned business, as the company is controlled by the Walton family. Sam Walton's heirs own over 50 percent of Walmart through both their holding company Walton Enterprises and their individual holdings.

Find Out More ›

Who is the richest Walmart owner? ›

The Waltons are the richest family in America thanks to their stake in Walmart, the world's largest retailer by sales. An estimated 45% of Walmart's stock is held by the families of seven heirs of founders Sam Walton (d. 1992) and his brother Bud (d. 1995).

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Who is the female heir to Walmart? ›

Alice Louise Walton (born October 7, 1949) is an American heiress to the fortune of Walmart as daughter of founder Sam Walton. In September 2016, she owned over $11 billion in Walmart shares.

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Who is the richest family Walmart? ›

BENTONVILLE, Ark. —

The Walton Family is the richest family in the world. It owes its wealth to the Walmart company started by brothers Sam & Bud Walton in Northwest Arkansas more than six decades ago.

Get More Info Here ›

Who is the world's richest family? ›

With an estimated wealth of $305 billion, the Royal family of Abu Dhabi- Al Nahyan family— is known as the richest family in the world. The head of the Al Nahyan family, Sheikh Mohammed bin Zayed Al Nahyan, is the ruler and President of the United Arab Emirates (UAE).

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How many Walton heirs are there? ›

An estimated 45% of Walmart's stock is held by the families of seven heirs of founders Sam Walton (d. 1992) and his brother Bud (d. 1995). Heirs include Sam's three living children--Rob, Jim and Alice--his daughter-in-law Christy and her son Lukas, plus Bud's two daughters, Ann and Nancy.

Who is the heiress to Walmart? ›

Alice Louise Walton (born October 7, 1949) is an American heiress to the fortune of Walmart as daughter of founder Sam Walton.

Who owns Waltons Mountain now? ›

The new owners, Carole Johnson of Ukiah, California, Ray Castro of New Jersey, and Kirstin DeMaio of Michigan, plan to open it up for tours. The Waltons Hamner House opens Friday and tickets will be available at the Walton Mountain Museum across the street.

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Which Walton brother died? ›

James Lawrence "Bud" Walton (December 20, 1921 – March 21, 1995) was the brother of Sam Walton and executive of Walmart.

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