This family earns Rs 3 crore every minute, has more net worth than Gulf royal families, they started with selling salt and turmeric, they are from…, name is…
Sam Walton is a name that changed not just his own life, but also the world of shopping. With hard work, smart thinking, and clear vision, he started a small store that later became the biggest retail chain in the world, Walmart. As of December 2024, the Walton family’s total wealth reached around USD 432.4 billion. That’s even more than the net worth of Elon Musk, who is known as one of the richest people in the world. Until now, the royal families of Gulf countries were seen as the richest, but the Walton family has even gone beyond them. Today, the family earns nearly Rs. 3 crore every minute.
And it might surprise you to know but the world’s largest retail company began from a small store that sold everyday items like salt and turmeric.
This is the story of Sam Walton, who was born into a simple farming family. He focused on setting up stores in small towns and villages, offering good quality products at low prices. His idea worked, and his stores slowly spread across the world.
Sam Walton was born on March 29, 1918, in a small town called Kingfisher in Oklahoma, USA. From a young age, he did many small jobs from delivering newspapers, selling milk, and offering magazine subscriptions. In high school, he was known as the “Most Versatile Boy” for being good at many things.
He studied economics at the University of Missouri and graduated in 1940. After that, he got a job at a retail store called J.C. Penney. His salary there was only USD 75 a month. He later served in the army during World War II.
In 1945, with the help of a USD 25,000 loan, which came from his wife Helen’s savings and some borrowed money, Sam bought a small store. That small beginning turned into a global retail empire.
How Walmart began
Sam Walton started with a small store in Newport, Arkansas. Sam believed that if you sell things at low prices and in large quantities, you can still make a good profit. This simple idea became the base of his future success.
By the early 1960s, Sam and his brother James “Bud” Walton had opened a small chain of 15 Ben Franklin stores. These stores helped them understand the needs of customers in small towns and gave them valuable experience in running a business.
However, Sam had a new plan and he wanted to open discount stores in smaller towns. He shared this idea with the Ben Franklin company, but they rejected it. After this, Sam decided to go his own way. He took a big risk and started his own chain of discount stores. That’s when Walmart was born.
On July 2, 1962, Sam Walton opened the first Walmart store in Rogers, Arkansas. His goal was simple: give people everything they need at low prices, without any fancy setup. The store sold clothes, home items, toys, electronics and almost everything at wholesale prices.
To make things even more efficient, Sam set up big warehouses and a fast supply system so each store could get products within a day. This smart system later became known as the “Walmart Effect.” It changed how retail worked across the world.
How Walmart grew
After the first Walmart store opened in 1962, the business grew rapidly. By 1969, just 7 years later, the Walton family had 18 stores, and yearly sales had crossed USD 30 million. In 1970, Walmart entered the stock market and raised money to expand faster. By 1979, the company had 276 stores and had crossed USD 1 billion in annual sales.
During the 1980s, Sam Walton introduced Sam’s Club, a membership-based store where people could buy items in bulk at lower prices. Then, in 1988, Walmart opened its first Supercenter, which offered both groceries and general products under one roof.
Smart use of technology
In the 1970s, Walmart started using computerized billing systems, which was rare at the time. In 1987, the company built the largest private satellite network in the U.S., connecting all stores directly to the main office.
By 1990, Walmart had become the largest retail company in the U.S., beating Sears. Soon after, it began opening stores internationally. Today, Walmart has over 10,500 stores worldwide and earns more than USD 600 billion in sales each year.
Massive daily sales
In 2024, Walmart’s stock jumped by 80 per cent, boosting the Walton family’s wealth even more. The company now sells goods worth about USD 1.64 billion every single day, with millions of customers shopping from its stores and online platforms.
Walmart has also grown its presence in e-commerce by acquiring companies like Jet.com, helping it compete with online giants.
Sam Walton’s legacy lives on
Sam Walton passed away in 1992 at the age of 74 due to cancer. At that time, Walmart was already a USD 50 billion company. He left behind a strong foundation, which was carried forward by his wife Helen and their four children: Rob, John, Jim, and Alice Walton. Together, they managed their stake in the company through Walton Enterprises, a family holding company that keeps their wealth intact.
- Rob Walton served as chairman until 2015.
- Jim Walton manages the family-owned Arvest Bank.
- Alice Walton is known for her love for art and founded the Crystal Bridges Museum of American Art.
- John Walton sadly died in a plane crash in 2005. His wealth was inherited by his wife Christy and their son Lukas.
Bud Walton’s daughters, Ann and Nancy, are also involved in sports and entertainment industries. Even today, the Walton family owns around 45 per cent of Walmart’s shares.
Walton Family
The Walton Family Foundation, started by Sam and Helen Walton in 1987, gives away over USD 500 million every year to support causes like education, environment, and community development. For example, they gave USD 300 million to the University of Arkansas, and they also support many charter schools across the U.S.
As of February 2025, the Walton family’s wealth is divided among 7 members:
- Jim Walton – USD 119 billion
- Rob Walton – USD 113.3 billion
- Alice Walton – USD 113 billion
- Lukas Walton – USD 40 billion
- Christy Walton – USD 18 billion
- Ann Walton – USD 10.1 billion
- Nancy Walton – USD 10.2 billion
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