Samuel Robson or better known as Rob Walton is an American Billionaire and he is the heir to Walmart’s fortune, the largest retailer in the world. Rob served as Chairman of Walmart from 1992 to 2015 and was a key person in the management of the company in addition to being a Walton heir. Few of his siblings and fellow heirs have ever worked at Walmart, thus this distinguishes him from them.
Walton ranked as the 19th richest person in the world as of 2022 with an estimated net worth of US$57.5 billion.
Rob Walton Biography and Net Worth
|Net Worth $57.5 Billion|
|Full Name Samuel Robson Walton|
|Birth Date Oct 28, 1944|
|Age 77 years old|
|Birthplace Tulsa, Oklahoma, US|
|Spouse Melani Lowman|
Rob Walton Early Life
Samuel Robson or “Rob” Walton was born in Tulsa, Oklahoma, on October 28, 1944. He is Sam Walton’s (founder of Walmart) eldest. Rob grew up with many other Walton fortune heirs and heiress, including Jim, Alice, and John (who passed away in 2005).
Rob Walton graduated with a bachelor of science in business administration from the University of Arkansas in 1966. He is a trustee and alumni of The College of Wooster. Rob belonged to the Lambda Chi Alpha fraternity while he was a student at the university. Rob graduated with his Juris Doctor from Columbia Law School in 1969 after graduating university of Arkansas.
Rob Walton Career
After receiving his Juris Doctor from Columbia Law School, he joined Walmart representing Tulsa law firm Conner & Winters. Rob worked on the firm’s preparations for Walmart’s first public offering in October 1970. He worked until 1978, after that he became the vice president of Walmart.
During the middle of the 1980s, Rob was the one who persuaded his father to consider extending the company into other nations. When he became vice-chairman in 1982, he pushed to make suppliers that supplied goods for sale in Walmart shops more visible and sustainable. By doing this, he created transparency for customers to know where their purchases came from. In order to ensure that Walmart customers receive fresh fruit and that the company can support better incomes for American farmers, Rob also asked the company to source more goods locally, particularly food grains and vegetables.
On April 7, 1992, two days after his father Sam Walton’s death, he took over as chairman of Walmart. He remained in that role until his retirement in 2015. In order to enlighten their customers and assist them in making an informed choice, Walmart began labelling some products that passed stringent tests with a “good fantastic for you” tag under his guidance. The business also made an investment in a social school for the retail sector, which educated and trained young people to serve as a valuable task force in the sector.
Rob Walton’s Wife and Children
Prior to getting a divorce in the late 1970s and getting married to Carolyn Funk, Rob was married to Patricia Rawlings Walton. Until their divorce in 2000, Carolyn and Rob had been together for more than 25 years.
Rob wed Melani Lowman Walton, a trainer and basketball coach, five years later. Sam Walton, Carrie Walton Penner, and Ben Walton are the three children that S. Robson Walton had from his first marriage. Sam Walton was born in 1968, Carrie Walton Penner was born in 1970, and Ben Walton was born in 1975. Greg Penner, Carrie Walton’s spouse, and his son-in-law is currently the chairman of the Walmart corporation.
Rob Walton’s Net Worth
He is the 19th Richest-person in the world with an estimated net worth of $57.5 Billion. Through the Walton Family Holdings Trust and Walton Enterprises, Rob Walton holds a 13% share in Wal-Mart. Additionally, he holds a 25.5 per cent ownership in Arvest Bank, the biggest bank in Arkansas. The total value of this ownership interest is around $1.6 billion. Since 1992, Walton has made nearly $11 billion in dividends and stock sales. Walton Enterprises also benefits from having his siblings Alice and Jim Walton as clients.
Rob Walton Car collection
Rob’s collection of vintage sports cars is well known. Walton reportedly owns a Ferrari 250 GTO that is valued between $35 million and $52 million. Rob also owns a 1965 Shelby Cobra, which costs $820,000 on average. He also recently added a 1960 Maserati T60 and a 1958 Scarab MKI, all of which are noteworthy additions.
While his Ferrari 250 GT SWB is worth roughly $4.1 million, his Ferrari 250 LM is currently valued at $14.6 million. Rob paid $12.1 million for a Ferrari 250 Testa Rossa in the past and Rob was required to pay an import fee of $303,000 because U.S. Customs determined that his valuable Testa Rossa would be classified as a “regular” automobile. In case you were wondering, a 2020 Ferrari 488 Pista costs almost the same as $303,000.