Sam Walton Died The Richest Man in The World; What Was His Net Worth?
|Net Worth||$8.6 Billion|
|Sources of Income||Walmart|
|Date of Birth||Mar 29, 1918 - Apr 5, 1992|
|Age||74 years old as of 1992|
American entrepreneur Sam Walton was one of the most influential people in the world. He is best known for founding the retail giant Walmart and Sam's Club. Walmart became one of the largest corporations in terms of revenue and started employing more than any private organization. In the mid-80s, many famous publications reported that he was at the time, the richest man on the planet. Bill Gates became the wealthiest man in the world the year Sam Walton died.
According to Celebrity Net Worth, if he were alive, his net worth would be somewhere around $200 billion and he would be getting close to a $500 million annual dividend from Walmart.
What Were Sam Walton's Sources of Income?
Throughout the 1950s, Walton scoured the market, borrowed money, and kept on acquiring one variety store after another. By the 1960s, he had 15 stores under his belt, but he was still not seeing any profit. He soon mortgaged his home and opened his first Walmart with the help of his brother Bud Walton.
Sam Walton's Salary
Sam Walton's salary was close to $10 million at the time of his passing, as per Celebworth. The Walton family is one of the richest families today and earns close to $4 million every hour, according to Bloomberg. Sam Walton was known to be extremely secretive about his personal wealth and therefore not many of his personal assets details are available online.
One of The Greatest Project Entrepreneurs in the Retail Chain Industry
Sam Walton was known to have a great passion for learning and reportedly visited stores around the country to get a better grasp on local innovation. The first Walmart was opened in 1962 in Rogers, Arkansas. He had gotten the one-stop solution approach from the Meijer store chain which had grown in the last few years. His approach of establishing the first Walmarts in smaller towns and not larger cities had two advantages. First existing competition was scarce, and it thoroughly discouraged other merchants from entering the surrounding market.
Walton Family's Assets
The Walton family's net worth is an estimated $247 billion, as per Bloomberg. Their vast fortune is mostly attributed to the sprawling retail empire built by their patriarch and expanded by them. The family still possesses roughly 50% of the company which is valued at $150 billion. Apart from this they also have a plethora of investments and a vast real estate portfolio. According to Medium, their properties are worth $40 billion. Beyond this, they also have $60 billion distributed across a range of tech start-ups and other ventures.
Sam Walton-Personal Life
Walton's journey began during The Great Depression. The young man rose to the occasion and began with his market research. He started out in a management trainee position with J.C Penney in Des Moines, Iowa, and started gathering more knowledge in the world of retail. He once said, " I probably walked into more variety stores than anybody in America… I’m just trying to get ideas that will help our company.”
Sam Walton: Recognition and Honor
He was listed among the Time's most influential people in the 20th century. He was also honored for his work in retail when he received the Presidential Medal of Freedom from then-President George W. Bush. He was ranked as the richest person in the United States from 1982 to 1988 by Forbes.
Who is the richest Walton Sibling?
Jim Walton, the youngest son of Sam Walton, is the richest. He is currently worth $70 billion, as per Celebrity Net Worth.
Did Sam Walton have siblings?
Yes, his brother's name is Bud Walton.
Did Sam Walton go to college?
Yes, he attended the University of Missouri.