Sam Walton

Who Was Sam Walton?

Sam Walton, a visionary entrepreneur, opened the first Walmart in 1962, marking the beginning of a remarkable journey in retail management. Over the following three decades, Walmart expanded its reach internationally, ultimately becoming the largest company in the world by 2010. Walton stepped down as CEO in 1988 at the age of 70 but remained actively involved in the company until his passing in 1992.

Early Years

Samuel Moore Walton was born on March 29, 1918, in Kingfisher, Oklahoma, to Thomas Walton, a banker, and his wife, Nancy Lee. His family relocated to Missouri during his childhood, where Walton grew up. An accomplished student and athlete, he quarterbacked his high school football team and earned the rank of Eagle Scout. Upon graduating from Hickman High School in Columbia, Missouri, in 1936, he was honored by his classmates as the “most versatile boy.”

Walton continued his education at the University of Missouri in Columbia, where he graduated with a degree in economics in 1940.

Early Retail Career

Walton’s initial foray into retail began with a position at the J.C. Penney Company in Des Moines, a relatively small retailer at the time. Following his service as an Army captain in an intelligence unit during World War II, he returned to civilian life in 1945. Using a $25,000 loan from his father-in-law, Walton acquired his first store—a Ben Franklin franchise in Newport, Arkansas.

Within two decades, Walton, along with his younger brother James, expanded to own 15 Ben Franklin stores. However, frustration with the chain’s management, particularly the decision to overlook opportunities for expansion into rural communities, led him to pursue his own vision in retail.

Building an Empire

In 1962, Sam Walton opened his first Walmart store in Rogers, Arkansas, marking the beginning of a retail revolution. Success came quickly; by 1976, Walmart was a publicly traded company with a market capitalization exceeding $176 million. By the early 1990s, the company’s stock value soared to $45 billion. In 1991, Walmart surpassed Sears, Roebuck & Company to become the largest retailer in the United States. Much of this success can be attributed to Walton’s vision of establishing discount retail stores in rural areas, coupled with his rigorous and demanding management style. Known for starting his workdays at 4:30 AM, Walton expected high performance from his team and was willing to adjust strategies or personnel if results did not meet his expectations.

Even during economic downturns, Walmart thrived. In 1991, amid a nationwide recession, the company reported a remarkable sales increase of over 40 percent. However, this success also made Walmart a target of criticism, particularly from small-town merchants and residents who believed that the retail giant was eradicating local businesses and harming community economies. In response to these concerns, Walton actively engaged with the community, promising job creation and charitable donations, commitments that Walmart largely upheld.

Final Years

An avid hunter and outdoorsman, Walton maintained a humble public persona until his passing. He drove a red 1985 Ford pickup and lived in the same Bentonville, Arkansas, home with his wife, Helen, whom he married in 1943. Together, they raised four children: S. Robson, John, James, and Alice.

In 1985, Forbes magazine named Walton the wealthiest man in the United States, a title he found more burdensome than flattering. “All that hullabaloo about somebody’s net worth is just stupid, and it’s made my life a lot more complex and difficult,” he remarked.

In the final years of his life, Walton battled two types of cancer: hairy-cell leukemia and bone marrow cancer. He succumbed to the latter on April 5, 1992, at the University of Arkansas Medical Sciences Hospital in Little Rock.

Just a month prior to his death, Walton received the Presidential Medal of Freedom from President George H.W. Bush, a testament to his significant contributions to American retail and community engagement.