Walton, Sam (1918-1992), an American businessman, was the founder of Wal-Mart Stores, Inc. (now Walmart Inc.). Walton revolutionized U.S. retailing. For example, he built relatively large stores that concentrated on selling a wide variety of merchandise at low prices; yet he located his stores in small cities and rural areas, rather than in large cities. He also created a distribution system that can usually resupply his stores within one day rather than two weeks—the typical period at other retailers.
Samuel Moore Walton was born on March 29, 1918, in Kingfisher, Oklahoma, and grew up in Missouri. He worked his way through the University of Missouri by delivering newspapers and waiting on tables. After receiving a bachelor’s degree from the university in 1940, he worked as a management trainee in Des Moines, Iowa, with the J. C. Penney Company.
In 1945, with the help of a loan from his father-in-law, Walton acquired his first store, a Ben Franklin franchise in Newport, Arkansas. In 1962, with his brother, James Lawrence Walton, he opened the first Wal-Mart Discount City store, in the small city of Rogers, Arkansas. Today, Walmart ranks as the nation’s largest retailer. The company has thousands of stores throughout the United States and in Canada, the United Kingdom, and several other countries. Its stores include discount stores selling general merchandise; supercenters, which sell groceries and general merchandise; and warehouse clubs under the name Sam’s Club.
Walton died on April 5, 1992, in Little Rock, Arkansas. At his death, his large fortune passed on to his wife, Helen, and his children, John, Jim, Rob, and Alice. In addition to controlling the corporate empire, the family also makes large charitable donations, some through the Walton Family Foundation. The goals of this foundation include education reform, environmental conservation, and development in northwestern Arkansas. One project financed by the family foundation and privately by Alice Walton was Crystal Bridges, a museum in Bentonville, Arkansas, devoted to American art.
See Walmart Inc.
