Samuel Moore Walton was born on 29 March 1918, in Kingfisher, Oklahoma USA and passed away on 5 April 1992 (at the age of 74) in Little Rock, Arkansas, USA. Sam Walton was an entrepreneur and businessman, and is best known as the founder the retail brand Walmart, as well as others including Sam’s Club, which are very popular in the USA.
Sam Walton Net Worth $65 Billion
Sources have estimated that the net worth of Sam Walton reached $65 billion at today’s value, the main source of Sam’s wealth being the retail companies founded by Walton himself.
Since the early childhood Sam was very responsible and efficient person. While studying at high school he became an Eagle Scout, the youngest person in the program in the USA. Later, for his lifetime achievements he was rewarded with the Distinguished Eagle Scout Award. In 1940, Walton graduated from the University of Missouri with a Bachelor in Economics, and worked in Des Moines, Iowa as a management trainee before joining the US Army in World War II.
When Sam Walton left the military, he purchased his first variety store with the help of a loan from his farmer, part of Butler Brothers franchise. Sam’s great attention to the buyers led to the commercial success – he took care that the shelves were filled with a variety of goods at reasonable prices. In three years Walton tripled sales, and then managed to sell the store contents very successfully. He bought Bentonville store in Bentonville, Arkansas and again managed to double sales in two years. With the help of his brother Bud and other family members, Sam’ started opening new stores and in 1962 he owned 16 stores in various places across the USA. Of course, Sam Walton’s successful business ventures greatly increased his net worth.
In 1962, the first Walmart store was opened in Rogers, Arkansas. The trade was based on selling American made products and this led to outstanding success. Walton expanded his chain of stores by setting up new shops in the small towns outside major metropolitan areas, which was another part of successful business. In 1977, Sam was the owner of 190 stores, and by 1985 this number reached 800 stores.
Sam Walton was inducted into the list of 100 most influential people of the 20th Century by Times in 1998. President George H. W. Bush rewarded him with the Presidential Medal of Freedom for his achievements in retail. He was named one of the richest people in the USA by Forbes, a position he held titles from 1982 to 1988. The university which Sam studied at changed its title in his honour and now it is named Sam M. Walton College of Business.
Sam Walton died suffering from blood cancer in 1992 and is buried in Bentonville Cemetery. His company had by then expanded to employ 380,000 people in 1,735 Wal-Marts, 212 Sam’s Clubs, and 13 Supercenters, with annual sales of nearly $50 billion.
In 1943, Sam Walton married Helen Robson, and the family has four children.
