What Is Billionaire Businessman Jim Walton’s Net Worth?

What Is Jim Walton’s Net Worth?

American billionaire businessman Jim Walton has an impressive net worth of $70 billion. As the youngest son of Walmart founder Sam Walton, Jim inherited a significant stake in the retail giant upon his father's passing. He is the chairman of Arvest Bank, which boasts assets of more than $20 billion. In 2020, the Forbes 400 list recognized him as the 11th richest American. The 2023 Forbes List of Billionaires ranked him at number 16. He shares this position with his siblings.

What Are Jim Walton’s Sources of Income?

Jim's wealth primarily stems from his holdings in Walmart, the world's largest retailer. He owns approximately 13% of Walmart through the Walton Family Holdings Trust and Walton Enterprises. Jim also possesses a substantial 44% stake in Arvest Bank, Arkansas' largest bank. The bank boasts an extensive network with over 260 branches spanning Arkansas, Missouri, and Oklahoma. Under Jim's leadership, Arvest has experienced substantial growth, even acquiring numerous smaller banks and 29 branches from Bank of America in 2013. He has further fortified his income by serving as the chairman of Community Publishers Inc., a newspaper firm originally established by his father. 

Salary

Jim receives a substantial sum of money from his 44% stake in Arvest Bank. The value of this stake is estimated to be around $1.6 billion. He has also earned a remarkable $7 billion through stock sales and dividends since 1992, further enhancing his financial wealth. Jim's siblings, Alice and Rob Walton, are also beneficiaries of Walton Enterprises.

A Look At Jim Walton’s Assets

Jim's significant assets include his ownership of a substantial portion of Walmart, and an impressive 8,606-square-foot residence, which was listed for sale for $12.5 million.

Personal Life

Jim Walton was born on June 7, 1948, in Newport, Arkansas. He hails from a family of entrepreneurs, his father, Sam Walton, founded Walmart. Jim has always been actively involved in his family's businesses and holdings. Graduating from Bentonville High School in 1965, he was an accomplished student, serving as the president of his junior class. His athletic talent was evident as he excelled in football, achieving all-state recognition. Walton's passion for flying emerged during his high school years, when he embarked on his journey as a pilot. His commitment to education continued at the University of Arkansas in Fayetteville, Arkansas, where he obtained a Bachelor's degree in Business Administration with a focus on Marketing in 1971.

Jim Walton is married to Lynne McNabb Walton, and they have four children. The family resides in Bentonville, Arkansas, close to Walmart's headquarters. The businessman consistently ranks as one of the wealthiest individuals globally, along with his siblings, Rob and Alice Walton.

Philanthropic Endevors

Jim has maintained a tradition of charitable giving through the Walton Family Foundation, which was initially established by his father, Sam Walton, in 1987. Jim and Alice's primary philanthropic endeavors involves financing the development of charter schools. In 2016, they jointly provided a substantial $250 million grant dedicated to the construction of charter schools. They initiated the Building Equity Initiative with the primary objective of streamlining access to capital, thereby enabling these educational institutions to enhance and expand their facilities.

FAQs

Is Jim Walton a licensed pilot?

Yes, Jim Walton is a licensed pilot with a keen interest in aviation.

What is Jim Walton's interest in charter schools?

Jim and his sister Alice are involved in the Charter Impact Fund, which provides long-term loans to high-performing charter schools through the Walton Family Foundation.

Is Jim Walton an art enthusiast?

Yes, Jim Walton is known for his deep appreciation of art and has an extensive art collection, reflecting his support for the cultural sector.