James Carr Walton, an American businessman who was born on June 7, 1948, is the current heir apparent of Walmart, the largest retailer in the world. We will know about Jim Walton Net Worth later in this post.
According to the Bloomberg Billionaires Index, Walton has a net worth of $64.7 billion as of Jan 2023, making him the seventeenth richest person in the world. He is Sam Walton’s youngest child.
Jim Walton Bio/Wiki[table id=3748 /]
Sam and Helen Walton welcomed James Carr Walton into the world on June 7, 1948, in Newport, Arkansas. He comes from one of the wealthiest business families in the nation. When Jim was 14 years old, his father Sam and brother Bud Walton co-founded Walmart, the largest store in the world.
He was born together with three other siblings, Rob, John, and Alice Walton, as the family’s third child. He attended local Bentonville, Arkansas, schools.
He excelled in academics as well as sports and athletics. He excelled in football and represented his high school squad at the all-state level (Bentonville High School). In addition, he served as the junior class president.
Despite being an excellent football player, he knew from 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 from the college. Jim chose to stay put while his siblings went to school in other states. He was also a member of the “Lambda Chi Alpha fraternity” while attending college.
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 returned to Arkansans and started working for the family company.
Lynne McNabb Walton is Jim Walton’s wife, and the two of them have four kids together. Jim presently resides in Bentonville, Arkansas, with his family. Jim is a quiet person who dislikes being in the spotlight.
Although he has no active involvement in politics, Jason Rapert and other white nationalist leaders have benefited from his backing.
Jim Walton Controversies
Jim Walton, the heir to Walmart, is accused by an advocacy organisation of breaking campaign finance regulations by giving more than the individual legal limit to politicians during the 2008 election cycle. The complaint was submitted to the Federal Election Commission (FEC) on Friday. According to Forbes, Walton is the seventh-richest individual in the country.
Making Change at Walmart, an initiative connected to the United Food and Commercial Workers Union, filed the complaint. According to a spokeswoman, Making Change found the proof when looking through Walton’s 2012 campaign contributions. We will know about Jim Walton net worth in the later sections.
Jim Walton Education
Along with sports and athletics, he excelled academically as well. He was a superb football player who played for his high school team at the state level (Bentonville High School). He also held the position of junior class president.
Even though he was a great football player, he always knew he wanted to work for the family business. He attended the “University of Arkansas,” where he earned a bachelor’s degree in business administration. While his siblings attended school in various states, Jim made the decision to stay put. While attending college, he was a part of the “Lambda Chi Alpha fraternity.”
He returned to the country in 1972 and started working for “Walmart,” first in the business’ real estate division. He indicated an interest in working for Sam Walton’s firm, “Walton Enterprises,” for the next four years after that. He became the president of “Walton Enterprises” in the middle of the 1970s.
Jim had 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 chairman, 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 per cent of the bank’s shares, with the remaining shares being held by its staff.
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 bought by it.
In the midst of the late 2010s economic collapse, “Arvest” turned down money from the “Troubled Asset Relief Program.” In the latter part of March 2013, “Arvest” purchased 29 Bank of America locations in Kansas, Arkansas, Missouri, and Oklahoma.
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 firms. Jim has been employing the same business strategy that his father, Sam, used to establish “Walmart” in order to sustain the high rate of growth in the bank operations.
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. It eventually grew to be a significant enterprise in the family business since it shielded the “Waltons” from bad publicity.
Jim basically 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.”
Additionally, he consistently donates to the “Walton Family Foundation.”
According to a 2016 study, Jim possessed 152 million Walmart shares worth $11 billion. In March 2018, it was estimated that his net worth was over $41.9 billion, making him one of the wealthiest people on the planet. We will know about Jim Walton net worth in the next section.
Jim Walton Net Worth
His current net worth is $64.7 billion. According to Walmart’s website, the world’s largest retailer is where the majority of Walton’s wealth comes from. The Walton Family Holdings Trust and Walton Enterprises, the family’s privately held holding business, jointly own the shares. The company’s 2022 proxy statement and subsequent filings are the basis for the share information.
Based on the premise that co-founder Sam Walton divided the shares he possessed evenly among his four children — Rob, Alice, Jim, and John — the study gives him a 12 per cent ownership stake in the company. According to the 2022 proxy statement, Walton has pledged 4.25 million shares as collateral for a line of credit; these shares are not included in the net worth calculation.
According to a December 2010 filing with the Federal Reserve Bank of St. Louis, he also has a 44 per cent ownership in Arvest Bank, the largest bank in Arkansas.
According to a document submitted to the Federal Deposit Insurance Corporation on December 31, 2021, Arvest has a book value of around $2.6 billion. The valuation is based on the average price-to-book value ratio of Fifth Third Bancorp and UMB Financial, two publicly listed peers.
According to a study of Bloomberg statistics, Walton has received more than $10 billion in stock sales and dividends since 1992. These earnings, along with taxes, market performance, and family assets, determine the value of his cash investments.
The Walton family’s spokesperson, Randy Hargrove, declined to comment online on the net worth calculation.[table id=3747 /]
Jim Walton Wife
Lynne McNabb Walton is the spouse of Jim Walton. Together, the couple has four kids. Alice A. Proietti (born November 1979), Steuart Walton (born April 1981), Thomas L. Walton (born September 1983), and James M. Walton are his four children with his wife Lynne McNabb Walton (born August 1987). Living in Bentonville, Arkansas, is the family.
Jim Walton Height, Weight & Age
He is 75 years old as of 2023. He is 5 feet and 4 inches tall and weighs about 60 kgs in body weight or 150 lbs on the pounds scale. Heis a straight man who has grey hair and green eyes.
Lynne McNabb Walton