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The Walton family empire: Inside the lives of the billionaire Walmart heirs
Sam Walton opened the first Walmart store in Rogers, Arkansas, in 1962.The original Wal-Mart name tag used to look like this one, worn here by Sam Walton. Associated Press As he grew his retail empire, Walton, an experienced pilot, would often fly in unannounced to check in on a particular store location.He married Helen Robson on Valentine's Day in 1942.Sam and Helen had a Valentine's Day wedding. April L. Brown/Associated Press Together, they had four children: Rob, John, Jim, and Alice. By the time Sam died in 1992, he had set up the company ownership in a way that minimized the estate taxes anyone on the receiving end would have to pay.Sam Walton died at the age of 74 of cancer. Rick Wilking/Reuters Source: FortuneHe set up his ownership of Walmart's stock in a family partnership each of his children held 20% of Walton Enterprises, while he and Helen each held 10%. Helen inherited Sam's 10% tax-free when he died.The stocks were carefully divided among the family. Courtesy of Walmart Source: Fortune Samuel Robson "Rob" Walton is the oldest Walton child. He is 80 years old.Rob served as chairman of Walmart for many years. Reuters He served as chairman of Walmart from 1992 until 2015 and remained on the board until this year.He'll retire from the board in 2024. Rick T. Wilking / Stringer / Getty Images He retired from Walmart's board at the end of his term in 2024. Rob made a splash in 2022 by leading an ownership group to buy the Denver Broncos.The group was led by Rob Walton, his daughter Carrie Walton Penner, and her partner Greg Penner. Joe Mahoney/AP The group purchased the NFL team for a $4.65 billion in summer 2022 in a record-breaking sale at the time.Rob has purchased a house in Paradise Valley, Arizona, near the base of Camelback Mountain.Walton owns a house in Paradise Valley, Arizona. Tim Roberts Photography/Shutterstock In the past, protesters have rallied outside of his Arizona home to advocate for better wages and benefits for Walmart workers.Protesters at a Walmart in Boynton Beach, Florida, called for better wages and benefits. J Pat Carter/Associated Press Besides real estate, Rob has a large collection of vintage cars.Walton's personal vintage car collection is not pictured. Ben Pruchnie/Getty Images In 2013, he ran his Daytona Coupe, which was worth $15 million at the time, off the tracks and wrecked it. The car was one of only five ever made.Walton's Daytona Coupe was totaled in a crash. AP Photo/Tom Mihalek Sam Walton's second-oldest child, John Walton, died in a plane crash in 2005.John (right) with his mother (center) and older brother, Rob (left). April L. Brown/Associated Press He was 58 years old. He was married to Christy Walton and had one son, Lukas.Lukas Walton, pictured here, is the grandson of Walmart founder Sam Walton. Walton Family Foundation/YouTube John left about 17% of his wealth to his wife, and he gave the rest to charity and to his son.John Walton left half of his fortune to charitable trusts and a third to his son. AP Source: Business Insider John served in Vietnam as a Green Beret. When he returned from the war he held a series of jobs like the Walmart company pilot, a crop duster, and the owner a few yachting companies before becoming a Walmart board member.John (second from left) pictured with members of his family. AP Photo/Spencer Tirey Source: FortuneIn 2013, Christy decided to sell their Jackson Hole mansion. She also sold the family's ranch for an undisclosed price in 2016 after listing it for $100 million in 2011.The family had a mansion in Jackson Hole, Wyoming. Jackson Hole Real Estate Source: Curbed and Ranch Marketing Associates The 8,606-square-foot home was put on the market for $12.5 million.An aerial view of John and Christy Walton's mansion. Google Maps Source: CurbedJames "Jim" Walton is the youngest son of Walmart founder Sam Walton. He is 76 years old.Jim Walton is now 76. Walmart He is chairman of the board of the family's Arvest Bank Group. One of the state's largest banks today, Arvest Bank has assets totaling more than $26 billion.One of many Arvest Bank locations in Bentonville, Arkansas. Google Maps Source: BloombergHe also served on the Walmart board, starting in 2005 to fill the vacancy after his brother John died. Jim Walton's son, Steuart, took over his father's seat on the board in 2016.Jim served on the board for more than a decade. Rick T. Wilking/Stringer/Getty Images Now, he presides over Walton Enterprises the private company that deals with the investments and finances of the Walton family only from modest offices in Bentonville, Arkansas.Jim now manages the family's finances. Google Maps Source: FortuneThe youngest of founder Sam Walton's children, Alice Walton is worth $112 billion, according to Bloomberg. She has been divorced twice and has no children. She is 75 years old.Alice Walton is the youngest of Walmart founder Sam Walton's children. AP/April L. Brown Alice has never taken an active role in running the family business.Alice Walton with Jim Walton in 2013. REUTERS/Rick Wilking Instead, she became a patron of the arts, which she fell in love with at a young age.Alice has spent millions building her art collection. D Dipasupil/Getty Images When she was 10, she bought her first work of art: a reproduction of Picasso's "Blue Nude" for about $2, she told The New Yorker.Picasso's "The Blue Room." Evan Vucci/Associated Press Source:The New YorkerShe has an immense private art collection, with original works from Andy Warhol and Georgia O'Keeffe. Alice opened a museum in Bentonville called Crystal Bridges in 2011 to house her $500 million private art collection.The museum displays both paintings and sculptures, like this one by Alexander Calder (center). Danny Johnston/Associated Press The collection includes a Georgia O'Keeffe painting that Alice spent $44.4 million on in 2014 the biggest sale for a woman's piece of art in history.Georgia OKeeffe, "Jimson Weed/White Flower No. 1" (1932), Sotheby's. Courtesy of Sotheby's Source: The ObserverAlice also breeds horses.Besides art, she loves spending time with horses. Associated Press Her Millsap, Texas, property, Rocking W Ranch, sold to the Three Amigos Investment Group of Kermit, Texas, in September 2017 for an undisclosed amount.Alice Walton's ranch was called Rocking W Ranch. Courtesy of WilliamsTrew Source: Star-Telegram Her other, 4,416-acre Texas ranch was previously listed at a reduced price of $22 million.A huge fire pit was built in the backyard. Courtesy of WilliamsTrew The modest, three-bedroom, two-bathroom home overlooks the Brazos River.Alice also bought a two-floor condo on New York's Park Ave. for $25 million in 2014.Park Avenue pictured above at night. Getty Images/Arata Photography Source: Business Insider It has more than 52 large windows overlooking Central Park plus a media room, a winding staircase, and more than 6,000 total square feet of space.View of Central Park from the southeast. evenfh/Shutterstock Source: Business Insider Sam and Helen started the foundation as a way to teach their children how to give back and how to work together.The Walton Family Foundation was established in 1987, when Walmart celebrated its 25th anniversary. Walton Family Foundation/YouTube The charity awards millions of dollars in grants to causes that align with the foundation's values.The foundation awarded $566.5 million in grants in 2022, according to its website. Walton Family Foundation/YouTube The foundation has three main areas of focus:A project put on by the Walton Family Foundation. Walton Family Foundation/YouTube The foundation's focus on education was led by John. His brother Jim said John was really interested in being able to give parents choices when it came to their child's schooling.The foundation was dedicated to supporting children's education. Walton Family Foundation/YouTube Source: Walton Family Foundation Rob spearheaded the foundation's venture into environmental protection. One of the first grants they gave helped develop a sustainable fisheries label.Rob launched the environmental and sustainability branch of the foundation. Walton Family Foundation/YouTube Source: Walton Family FoundationA commitment to the family's home of Arkansas is another large part of the foundation. The website says this area of focus is about "advancing our home region of Northwest Arkansas and the Arkansas-Mississippi Delta."The Bentonville town square. Walton Family Foundation/YouTube Source: Walton Family Foundation Walmart Inc., which owns Walmart and Sam'
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