Jim Walton Net Worth: $40.6 billion
As the youngest son of Sam Walton, Jim Walton ranked 9th in the world’s richest billionaires list, with an estimated net worth of $40.6 billion. He earned his bachelor’s degree in business administration at the University of Arkansas in 1971 and joined his father’s business a year later, involved in real estate dealings. He replaced his deceased brother John in the Strategic Planning and Finance committees and as member of the Board of Directors of Walmart, a billion-dollar sales retail chain founded by his father.
How did Jim Walton make his money?
It is estimated that Walton currently owns 12.8% stake of the franchise and 51% of Walmart’s total stock, consisting of Walmart Enterprises and Walton Family Holdings Trust, together with his family. The family members are in constant contact with each other and with their family advisers in order to continue the family’s legacy as one of the richest families in America. Walton has reportedly received $300 million in dividend payouts from Walmart.
Aside from his current position in Walmart, he is also the Chief Executive Officer of Arvest Bank, which his family runs. In 2014, Arvest Bank had net profits of almost $105 million and assets of nearly $16 billion. The bank has branches in Arkansas, Kansas, Oklahoma, and Missouri and provides personal banking services such as checking, savings, loans, health savings accounts, and money market to name a few. It has consistently won customer satisfaction awards from J.D. Power and Associates. Walton is also chairman of the newspaper firm Community Publishers Inc., which he owns. His philanthropic involvement involves pledging $2 billion to the Walton Family Foundation together with his siblings and sister-in-law from 2008 to 2013.