Sam Walton

Samuel Moore Walton (March 29, 1918 – April 5, 1992) was an American business magnate, philanthropist, and military veteran best known for co-founding the retailers Walmart and Sam's Club, which he started in Rogers, Arkansas, and Midwest City, Oklahoma, in 1962 and 1983 respectively. Wal-Mart Stores Inc. grew to be the world's largest corporation by revenue as well as the biggest private employer in the world.

From 1982 to 1988, Walton was the richest person in the United States. His family has remained the richest family in the U.S. for several consecutive years, with a net worth of around $440.62 billion US as of January 2026. In 1992 at the age of 74, Walton died of blood cancer and was buried at the Bentonville Cemetery in his longtime home of Bentonville, Arkansas.

Samuel Moore Walton was born to Thomas Gibson Walton and Nancy Lee, in Kingfisher, Oklahoma. He lived there with his parents on their farm until they moved in 1923. However, farming did not provide enough money to raise a family, and Thomas Walton went into farm mortgaging. He worked for his brother's Walton Mortgage Company, which was an agent for Metropolitan Life Insurance, where he foreclosed on farms during the Great Depression.

He and his family (now with another son, James, born in 1921) moved from Oklahoma. They moved from one small town to another for several years, mostly in Missouri. While attending eighth grade in Shelbina, Missouri, Sam became the youngest Eagle Scout in the state's history. In adult life, Walton became a recipient of the Distinguished Eagle Scout Award from the Boy Scouts of America.

Eventually the family moved to Columbia, Missouri. Growing up during the Great Depression, he did chores to help make financial ends meet for his family as was common at the time. He milked the family cow, bottled the surplus, and drove it to customers. Afterwards, he would deliver Columbia Daily Tribune newspapers on a paper route. In addition, he sold magazine subscriptions. Upon graduating from David H. Hickman High School in Columbia, he was voted "Most Versatile Boy".

After high school, Walton decided to attend college, hoping to find a better way to help support his family. He attended the University of Missouri as an ROTC cadet. During this time, he worked various odd jobs, including waiting tables in exchange for meals. Also during his time in college, Walton joined the Zeta Phi chapter of Beta Theta Pi fraternity. He was also tapped by QEBH, the well-known secret society on campus honoring the top senior men, and the national military honor society Scabbard and Blade. Additionally, Walton served as president of Burall Bible Class, a large class of students from the University of Missouri and Stephens College.

Walton earned Bachelor of Arts degree in economics from the University of Missouri in 1940. At the university, he was voted "permanent president" of the class.

In 1945, after leaving the military, Walton took over management of his first variety store at the age of 26. With the help of a $20,000 loan ($357,671 in 2025) from his father-in-law, Leland Robson, plus $5,000 ($89,418 in 2025) he had saved from his time in the Army, Walton purchased a Ben Franklin variety store in Newport, Arkansas. The store was a franchise of the Butler Brothers chain.

Walton pioneered many concepts that became crucial to his success. According to Walton, if he offered prices as good as or better than stores in cities that were four hours away by car, people would shop at home. Walton ensured the shelves were consistently stocked with a wide range of goods. His second store, the tiny "Eagle" department store, was down the street from his first Ben Franklin and next door to its main competitor in Newport.

With the sales volume growing from $80,000 to $225,000 in three years, Walton drew the attention of the landlord, P. K. Holmes, whose family had a history in retail.

Admiring Sam's great success and desiring to reclaim the store and franchise rights for his son, he refused to renew the lease. The lack of a renewal option, together with the prohibitively high rent of 5% of sales, were early business lessons to Walton. Despite forcing Walton out, Holmes bought the store's inventory and fixtures for $50,000, which Walton called "a fair price".

With a year left on the lease, but the store effectively sold, Walton, his wife, Helen, and his father-in-law managed to negotiate the purchase of a new location on the downtown square of Bentonville, Arkansas. Walton negotiated the purchase of a small discount store, and the title to the building, on the condition that he get a 99-year lease to expand into the shop next door. The owner of the shop next door refused six times, and Walton had all but given up on Bentonville when his father-in-law, without Sam's knowledge, paid the shop owner a final visit and $20,000 to secure the lease. He had just enough left from the sale of the first store to close the deal and reimburse Helen's father. They opened for business with a one-day remodeling sale on May 9, 1950.

With the new Bentonville "Five and Dime" opening for business and, 220 miles (350 kilometers) away, a year left on the lease in Newport, the money-strapped young Walton had to learn to delegate responsibility.

After succeeding with two stores at such a distance (and with the postwar baby boom in full effect), Walton became enthusiastic about scouting more locations and opening more Ben Franklin franchises. (Also, having spent countless hours behind the wheel, and with his close brother James "Bud" Walton having been a pilot in the war, he decided to buy a small second-hand airplane. Both he and his son John would later become accomplished pilots and log thousands of hours scouting locations and expanding the family business.)

In 1954, he opened a store with Bud in a shopping center in Ruskin Heights, a suburb of Kansas City, Missouri. With the help of his brother and father-in-law, Sam went on to open many new variety stores. He encouraged his managers to invest and take an equity stake in the business, often as much as $1000 in their store, or the next outlet to open. (This motivated the managers to sharpen their managerial skills and take ownership over their role in the enterprise.) By 1962, along with his brother Bud, he owned 16 stores in Arkansas, Missouri, and Kansas (fifteen Ben Franklins and one independent, in Fayetteville).

The first true Walmart opened on July 2, 1962, in Rogers, Arkansas. Called the Wal-Mart Discount City store, it was located at 719 West Walnut Street, and launched a determined effort to market American-made products. Included in the effort was a willingness to find American manufacturers who could supply merchandise for the entire Walmart chain at a price low enough to meet the foreign competition.

As the Meijer store chain grew, it caught the attention of Walton. He came to acknowledge that his one-stop-shopping center format was based on Meijer's original innovative concept.

Contrary to the prevailing practice of American discount store chains, stores were located in smaller towns, not larger cities. To be near consumers, the only option at the time was to open outlets in small towns. The model offered two advantages. First, existing competition was limited and secondly, if a store was large enough to control business in a town and its surrounding areas, other merchants would be discouraged from entering the market.

To make his model work, he emphasized logistics, particularly locating stores within a day's drive of Walmart's regional warehouses, and distributed through its own trucking service. Buying in volume and efficient delivery permitted sale of discounted name brand merchandise. Thus, sustained growth—from 1977's 190 stores to 1985's 800—was achieved.

Given its scale and economic influence, Walmart is noted to significantly impact any region where it establishes a store. These impacts, both positive and negative, have been dubbed the "Walmart Effect".

Walton married Helen Robson on Valentine's Day, February 14, 1943. They had four children: Samuel Robson (Rob) born in 1944, John Thomas (1946–2005), James Carr (Jim) born in 1948, and Alice Louise born in 1949.

Walton supported various charitable causes. Walton was a long-term supporter of country music, with a particular appreciation of Dolly Parton, whose debut album Hello, I'm Dolly became the first album to be widely stocked in Walmart in 1967.

In 1998, Walton was included in Time's list of 100 most influential people of the 20th Century. Walton was honored for his work in retail in March 1992, just one month before his death, when he received the Presidential Medal of Freedom from President George H. W. Bush.

Forbes ranked Sam Walton as the richest person in the United States from 1982 to 1988, ceding the top spot to John Kluge in 1989 when the editors began to credit Walton's fortune jointly to him and his four children. (Bill Gates first headed the list in 1992, the year Walton died.) Wal-Mart Stores, Inc. also runs Sam's Club warehouse stores. Walmart operates in the United States and in more than fifteen international markets, including: Argentina, Brazil, Canada, Chile, China, Costa Rica, El Salvador, Guatemala, India, South Africa, Botswana, Ghana, Malawi, Mozambique, Namibia, Tanzania, Uganda, Zambia, Kenya, Lesotho, Eswatini (Swaziland), Honduras,

Japan, Mexico, Nicaragua and the United Kingdom.

Sam Walton was awarded Honorary Doctor of Laws (LL.D.) degree from the University of Missouri in 1984.

At the University of Arkansas, Sam M. Walton College of Business is named in his memory. Walton was inducted into the Junior Achievement U.S. Business Hall of Fame in 1992.