Jim Walton Biography

Jim Walton is an American businessman and the heir to world’s largest retail chain, ‘Walmart.’ Check out this biography to know about his childhood, family life, career, and achievements.

Quick Facts

Birthday: June 7, 1948

Nationality: American

Famous: CEOs Bankers

Age: 71 Years, 71 Year Old Males

Sun Sign: Gemini

Also Known As: Jim C. Walton, James Carr Walton

Born Country: United States

Born in: Newport, Arkansas, United States

Famous as: Businessman

Family:

Spouse/Ex-: Lynne McNabb Walton

father: Sam Walton

mother: Helen Walton

siblings: Alice Walton, John Walton, Rob Walton

children: Alice Anne Walton, James M. Walton, Steuart Walton, Thomas Layton Walton, Well L. Walton

U.S. State: Arkansas

More Facts

education: University of Arkansas (1971), University of Maryland, Bentonville High School

Continue Reading Below

Jim Walton is an American businessman and the heir to world’s largest retail chain, ‘Walmart.’ Born in Newport, Arkansas, he was raised in Bentonville City as the third child of Sam Walton, better known as the co-founder of ‘Walmart.’ He played all-state level football in school and also earned a pilot’s license. He earned a bachelor’s degree in Business Administration from the ‘University of Arkansas’ and following his graduation he joined Walmart and looked after the real-estate dealings for the company until 1975. Thereafter, he began a new tenure as the president of ‘Walton Enterprises.’ In September 2005, following the demise of his older brother, John, Jim became a member of Board of Directors of ‘Walmart.’ He also served as the CEO of the ‘Arvest Bank,’ which is owned by his family. He is currently one of the richest persons in the world.

Recommended Lists:

Recommended Lists:

Childhood & Early Life
  • Jim Walton was born James Carr Walton, on June 7, 1948, in Newport, Arkansas, to Sam and Helen Walton. He was born into one of the richest business families in the country. His father, Sam, had co-founded the world’s largest retailer company ‘Walmart’ with his brother, Bud Walton, in 1962, when Jim was 14 years old.
  • He was born as the third child in the family and three other siblings - Rob, John, and Alice Walton. He attended local schools in Bentonville, Arkansas.
  • Besides academics, he was also good in sports and athletics. He was a very good football player and played at all-state level with his high school team (Bentonville High School). He was also the president of his junior class in school.
  • Despite being very good at playing football, he realised from the very beginning that he wanted to join the family business. To prepare for that, he attended the ‘University of Arkansas’ and earned a bachelor’s degree in Business Administration. While his other siblings studied in some other states, Jim decided to stick around. During his university years, he was also a member of ‘Lambda Chi Alpha fraternity.’
  • Following his college graduation in 1971, Jim took a yearlong break and decided to explore the world. He travelled and learned to fly a plane. Thereafter he returned to Arkansans and joined the family business.
    Continue Reading Below
Top
Career
  • In 1972, he came back to the United States and began working in ‘Walmart,’ starting with the real estate wing of the company. After working for the next four years, he expressed his interest in joining ‘Walton Enterprises,’ a company owned by his father, Sam Walton. In the mid-1970s, he joined the ‘Walton Enterprises’ as its president.
  • After working in the ‘Walton Enterprises’ for a few months, Jim showed keen interest in banking; his father owned ‘Arvest Bank,’ which eventually became the largest and the oldest bank in the state of Arkansans. He served as the CEO of the bank, until he became its chairman.
  • Although ‘Arvest’ never came into the big league at the national level banking, it did manage to perform quite well on the net interest margin scale, considering the limited core area of its operations.
  • All three brothers - Jim, John, and Rob hold an equal 25.88 % shares in the bank while the rest is held by its employees.
  • Under Jim’s leadership, the bank has grown exponentially. It has acquired many small banks, such as WestStar Bank, Caney Valley National Bank, and the Bank of Pea Ridge.
  • During the economic recession of the late 2010s, ‘Arvest’ refused funds from the ‘Troubled Asset Relief Program.’ Later in March 2013, ‘Arvest’ acquired 29 branches of the ‘Bank of America’ in Kansas, Arkansas, Missouri, and Oklahoma.
  • The bank has more than 200 branches in states such as Arkansas, Oklahoma, and Missouri. In addition, the bank owns many mortgage and insurance companies as well. In order to maintain the high level of growth in the bank operations, Jim has been using the same business model his father, Sam, used to expand ‘Walmart.’
  • Sam also bought a local newspaper ‘the Benton County Daily Record’ and it evolved to become ‘Community Publishers Inc.,’ owned by the ‘Walton’ family. Sam had initially bought it for marketing and printing flyers and brochures. Overtime, it became an important enterprise in the family business, as it saved the ‘Waltons’ from negative press.
  • Jim practically stayed away from ‘Walmart’ for many years until 2005, when his eldest brother, John, passed away. He was serving as a member of the ‘Board of Directors’ in ‘Walmart’ and Jim took over his position.
  • He is also a regular contributor to the ‘Walton Family Foundation.’
  • In 2016, a report stated that Jim owned 152 million shares in Walmart, valued at $11 billion. His net worth was assumed to be around $41.9 billion in March 2018, making him one of the richest persons in the world.
Recommended Lists:

Recommended Lists:

Top
Family & Personal Life
  • Jim Walton is married to Lynne McNabb Walton and the couple has four children together. Jim currently lives with his family in Bentonville, Arkansas.
  • Jim is a shy individual and does not like to be in the limelight.
  • He does not have any direct connection with politics, but he has been known as a supporter of the white supremacist politicians, such as Jason Rapert.
Top

See the events in life of Jim Walton in Chronological Order

How To Cite

Article Title
- Jim Walton Biography
Author
- Editors, TheFamousPeople.com
Website
- TheFamousPeople.com
URL
https://www.thefamouspeople.com/profiles/jim-walton-49787.php
Last Updated
- October 24, 2019
Jim Walton

People Also Viewed

Sam Walton
(American)
 
Alice Walton
(American)
 
Jeff Bezos
(American)
 
Bill Gates
(American)
 

Tom Steyer
(American)
 
Adam Weitsman
(American)
 
Satya Nadella
(American)
 
Kevin Jonas
(American)