Jim Walton Biography and Net Worth
|Net Worth $57.9 Billion|
|Full name James Carr Walton|
|Birth Date Jun 7, 1948|
|Age 74 years|
|Birthplace Newport, Arkansas, U.S.|
|Spouse Lynne McNabb|
James Carr Walton or better known as Jim Walton Is an American Businessman and is currently the heir to Walmart’s fortune, the largest retailer in the world. According to the Bloomberg Billionaires Index, Walton has a net worth of $57.9 billion as of 2022, making him the 18th richest person in the world. He is Sam Walton’s youngest child, with his family one of the richest families in the world. He also held the position of CEO for his family’s “Arvest Bank.” Through the Walton Family Foundation, which his father Sam Walton first founded in 1987, Walton has continually made charitable contributions.
Jim Walton Early Life
Samuel and Helen Walton welcomed James Carr Walton into the world on June 7, 1948, in Newport, Arkansas. He attended local Bentonville, Arkansas, schools. He excelled in academics as well as sports and athletics. He excelled at football and represented his high school squad at the all-state level (Bentonville High School).
Despite being an excellent football player, he knew right away that he wanted to work for the family company. He attended the “University of Arkansas” and graduated with a bachelor’s in Business Administration to prepare for that. Jim chose to stay put while his siblings went to school in other states.
In 1971, Jim took a year off after earning his undergraduate degree and set out to travel. He travelled and became an aeroplane pilot. After that, he went back to Arkansans and started working for the family company.
Jim Walton Career
He returned to the country in 1972 and started working for “Walmart,” initially in the business’ real estate division. He expressed interest in working for Sam Walton’s company, “Walton Enterprises,” for the following four years after that. He became the president of Walton Enterprises in the middle of the 1970s.
Jim developed a strong interest in banking after working for Walton Enterprises for a few months; Jim’s father controlled Arvest Bank, which eventually grew to be the biggest and oldest bank in the state of Arkansas. Up until he was elected chairperson, he was the bank’s CEO.
Despite never making it huge in the national banking scene, “Arvest” managed to perform admirably on the net interest margin scale given the confines of its primary business. Jim, John, and Rob possess a combined 25.88% of the bank’s shares, with the remaining shares held by its employees.
Jim has led the bank to experience exponential growth. Many local banks, including WestStar Bank, Caney Valley National Bank, and the Bank of Pea Ridge, have been acquired by it.
More than 200 branches of the bank are located in places including Arkansas, Oklahoma, and Missouri. The bank also owns a large number of insurance and mortgage companies. Sam also purchased the Benton County Daily Record, a local newspaper that later changed its name to Community Publishers Inc. and was controlled by the Walton family. Sam had originally purchased it so that he could promote and print flyers and brochures.
Jim practically avoided “Walmart” for many years up until John, his elder brother, passed away in 2005. Jim replaced him in his role as a member of the “Board of Directors” at “Walmart.”
Jim Walton Family
He comes from one of the wealthiest business families in the country and his parents were Sam and Helen Walton. When Jim was 14 years old, his father Sam and Brother Bud Walton co-founded Walmart, the largest retailer in the world.
He was born along with three other siblings, Rob, John, and Alice Walton, as the family’s third child.
Jim Walton’s Wife and Children
He is married to Lynne McNabb and they have four kids together: Alice A. Proietti (November 1979), Thomas L. Walton (September 1983), Steuart Walton (April 1981), and James M. Walton (August 1987). In Bentonville, Arkansas, the family resides.
Jim Walton’s Net worth
With an estimated net worth of $57.9 billion, he is ranked as the 18th richest Person in the world. Through the Walton Family Holdings Trust and Walton Enterprises, Jim Walton currently controls about 13 per cent of Wal-Mart. Additionally; he holds a 44 per cent ownership in Arvest Bank, the biggest bank in Arkansas. Jim Walton has made at least $10 billion through dividends and stock transactions since 1992.
Through the Walton Family Foundation, which his father Sam Walton first founded in 1987, Walton has continually made charitable contributions. Together with his sister Alice, Jim Walton has made sponsoring the establishment of charter schools one of his key priorities.