Rob Walton: Arkansas' Second Wealthiest Billionaire

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Walmart has a total number of 10,500 stores in the world.

This outstanding success made the Walton family the wealthiest family in the world. Today, I will talk about the second richest person in the family, who lives in Bentonville, Arkansas.

His name is Rob Walton. His net worth exceeds $67.4 Billion, making him the 13th richest person in the country.

Who is Rob Walton?

Rob Walton is an American billionaire and business executive who was chairman of Walmart from 1992 to 2015.

He is the eldest son of Sam Walton, co-founder of Walmart. He was born on October 28, 1944, in Tulsa, Oklahoma. He earned his bachelor's degree from the University of Arkansas in 1966 and a law degree from Columbia University in 1969.

He worked as a lawyer before joining Walmart.

His first job after college was at Conner & Winters in Tulsa. Then, in 1978, he left the law firm to join his family business in Arkansas as a senior vice president. He kept moving up, and when his dad passed away in 1992, he became the chairman of the board of directors.

In 2015, Rob Walton retired as chairman of the board of directors for Wal-Mart Stores, Inc. However, he continues to serve as a director.

In 2005, He married his third wife, Melani Lowman, a former All-American basketball player. Walton and his wife love to collect vintage automobiles.

Walton Enterprises owns 35% of Walmart's total shares.

Walmart's revenue exceeded $605 billion in 2023; the family owns 35% of the company.

Rob Walton is a co-owner of Walton Enterprises, the retailer's biggest shareholder, and according to Investopedia, "Walton Enterprises owns 1.0 billion shares of Walmart, representing approximately 35% of total shares outstanding, according to the company's SEC Form 4 filed on March 5, 2020."

He also owns a 25.5% stake in Arvest Bank, the largest bank in Arkansas. It has a book value of about $3 billion, so Rob Walton's shares value at $750 million.

Rob Walton philanthropy

He is a co-founder of the Rob and Melani Walton Foundation. In 2021, they donated $100 million to the Johannesburg-based African Parks to support African wildlife conservation.

He donates to several nonprofit and educational organizations, including the College of Wooster and Conservation International. If you had his money, what causes would you support?