Jim Walton

For other people named Jim Walton, see Jim Walton (disambiguation).
Jim Walton

Jim Walton attends the 2011 Walmart Shareholders Meeting
Born James Carr Walton
(1948-06-07) June 7, 1948[1]
Newport, Jackson County
Arkansas, USA
Residence Bentonville, Benton County
Arkansas
Citizenship United States
Education Marketing degree from University of Arkansas at Fayetteville (1971)[2]
Occupation
Known for Walton family fortune
Net worth Decrease US$36.6 billion (July 2016)[3]
Board member of
Spouse(s) Lynne McNabb Walton
Children 4[4]
Parent(s)
Relatives

James Carr "Jim" Walton[1] (born June 7, 1948)[5] is the youngest son of Sam Walton, the founder of the world's largest retailer, Walmart. On the 2016 Forbes list of world billionaires, Jim Walton was ranked as #15 with a net worth of $33.6 billion.

Early life and family

Jim Walton was born in Newport, Jackson County, Arkansas, the third child of Wal-Mart co-founder Sam Walton (1918–1992) and Helen Walton (1919–2007), with siblings Rob Walton, Alice Walton, and John Walton (d. 2005).[4][6][7] After graduating from Bentonville High School in 1965 where he was president of his junior class, played football at all-state level and also learned to fly a plane, Walton received a bachelor's degree in Business Administration (BA) Marketing from the University of Arkansas in Fayetteville, Arkansas in 1971, where he was also a member of the Lambda Chi Alpha fraternity.[2][4][8] In 1972, he joined Wal-Mart and was involved in its real estate dealings. After serving for four years he moved to the family owned Walton Enterprises as president in 1975.[2][5]:69-76[9]

Career

On September 28, 2005, Walton replaced his deceased brother, John, on the Wal-Mart Board of Directors.[2] He is currently on the Strategic Planning and Finance committees.[8] He is also CEO of his family owned Arvest Bank and chairman of newspaper firm Community Publishers Inc. (CPI) owned by Jim Walton himself but founded by his father Sam Walton after acquiring the local newspaper the Benton County Daily Record, both operating in Arkansas, Missouri, and Oklahoma.[9][10] He has pledged about $2 billion to the Walton Family Foundation along with his siblings from 2008 to 2013.[4]

On October 15, 2015, The Baton Rouge Advocate in the capital city of Baton Rouge, Louisiana, reported that PAC-Empower Louisiana had allocated about $818,000 to candidates running for the Louisiana Board of Elementary and Secondary Education who support the Common Core State Standards Initiative. The political action committee members include Alice and Jim Walton, Eli Broad of Los Angeles, California, and the trade association, the Louisiana Association of Business and Industry. Four candidates in eight districts, including Sandy Holloway, James Garvey in District 1 (suburban New Orleans), and Holly Boffy were declared "acceptable" to the PAC. Holloway collected $87,696; Garvey, the board vice president, $230,459; Boffy, another incumbent from Lafayette, $107,145.[11] The Common Core candidates staged major victories in the primary election held on October 24, 2015.[12]

In September 2016, Walton was reported to own over 152 million of Walmart shares worth of approximately US$ 11 billion.[13]

Personal

He and his wife Lynne McNabb Walton have four children: Alice A. Proietti (b. November 1979), Steuart Walton (b. April 1981), Thomas L. Walton (b. September 1983), and James M. Walton (b. August 1987). The family resides in Bentonville, Arkansas.[8]

He is currently ranked at #10 on the 2014 Forbes list of billionaires with a net worth of $34.7 billion that has increased by $3 billion.[6] On the 2013 Forbes 400 list of the richest people in America he is ranked at #7.[14]

See also

References

  1. 1 2 "Sam Walton: Great From the Start". Harvard Business School. 2001-07-23. Retrieved 2013-12-21.
  2. 1 2 3 4 5 6 7 "Executive Profile: Jim C. Walton". Bloomberg Businessweek. Retrieved 2013-12-21.
  3. ↑ http://www.forbes.com/profile/jim-walton/
  4. 1 2 3 4 "Jim Walton". Forbes. September 2013. Retrieved 2013-12-21.
  5. 1 2 Ortega, Bob (1999). In Sam We Trust: The Untold Story of Sam Walton and how Wal-Mart is Devouring the World. Kogan Page Publishers. p. 28. ISBN 978-0-7494-3177-8.
  6. 1 2 "2014 Forbes Billionaires". Forbes. 2014. Retrieved 2014-03-03.
  7. ↑ "The World's Billionaires #26 Jim Walton". Forbes. 2008-05-03. Retrieved 2013-12-21.
  8. 1 2 3 "Jim C. Walton". walmart1percent. Retrieved 2013-12-21.
  9. 1 2 Serwer, Andy (2004-11-15). "THE WALTONS/ INSIDE AMERICA'S RICHEST FAMILY". CNNMoney.com. Retrieved 2013-12-21.
  10. ↑ "Jim C. Walton Chairman and CEO of Arvest Bank Group, Inc.". Walmart. 2008-03-05. Retrieved 2013-12-21.
  11. ↑ Mark A. Joyce (October 23, 2015). "Guest columnist recounts out-of-state money and PAC support going to campaigns of certain BESE candidates". Louisiana Voice. Retrieved November 14, 2015.
  12. ↑ Will Sentell (October 25, 2015). "Backers of Common Core, other changes make clean sweep in BESE contests". The Baton Rouge Advocate. Retrieved November 15, 2015.
  13. ↑ "Insidermole.com". Insidermole.com. Retrieved 27 September 2016.
  14. ↑ "The Forbes 400 The Richest People in America". Forbes. September 2013. Retrieved 2013-12-22.
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