Who owns Walmart today? Walmart is a publicly traded company, meaning it is owned by its shareholders.
The Walton family, however, holds the largest share of ownership, controlling 50% of the company’s stock.
This significant stake comes from their lineage, as they are the descendants of Sam Walton, the founder of Walmart. The Walton family inherited a majority of their shares, with some additional shares acquired through further investments.
The History of Walmart
Sam Walton’s visionary leadership laid the foundation for Walmart, which began with a single store in Rogers, Arkansas, in 1962. Committed to offering low prices, Walton focused on high sales volumes by keeping costs low, a strategy that drove rapid growth.
By 1967, Walmart had 24 stores across Arkansas, and by 1968, it expanded outside the state. The company continued to grow, reaching 125 stores by 1975 and expanding into multiple states.
In the 1980s, Walmart entered the southeastern U.S. and launched Sam’s Club, its membership-based discount warehouse. By 1988, Walmart had become the most profitable retailer in the U.S., expanding into 27 states and opening its first Supercenter.
Throughout the 1990s, Walmart’s growth accelerated, both domestically and internationally, with expansions into Mexico, Canada, and beyond. By 1997, Walmart had surpassed $100 billion in annual sales.
In the 2000s, Walmart continued to evolve, expanding into Japan, Central America, and Africa. Despite challenges, including the COVID-19 pandemic, Walmart adapted and remained resilient, maintaining its mission of offering low prices and improving customers’ lives.
The Walton Family
Samuel Moore Walton was an influential American business leader, best known for founding the retail giants Walmart and Sam’s Club. He launched Walmart in Rogers, Arkansas, in 1962, and later established Sam’s Club in Midwest City, Oklahoma, in 1983.
Under Walton’s leadership, Wal-Mart Stores Inc. grew into the world’s largest corporation by revenue and became the largest private employer globally. At one point, Walton was the wealthiest individual in the United States.
His family has continued to hold the title of the richest family in the U.S. for several consecutive years, with a collective net worth of approximately $240.6 billion as of January 2022.
Walton passed away at the age of 74 due to blood cancer and was buried in Bentonville Cemetery, near his long-time home in Bentonville, Arkansas.
Who Owns Walmart – Top Individual Insider Shareholders
This section focuses solely on direct ownership, excluding indirect shareholdings or shares accessible through stock options.
Jim C. Walton
Jim C. Walton, the youngest son of Walmart founder Sam Walton, served on Walmart’s board of directors for over a decade before stepping down in 2016. His son, Steuart Walton, now chairs Walmart’s technology and e-commerce unit.
In addition to his involvement with Walmart, Jim Walton is the chairman of Arvest Bank, a financial institution owned by the Walton family. Arvest Bank, the oldest bank in Arkansas and one of the largest in the U.S., offers a range of services, including everyday banking, loans, mortgages, and investment services.
As of April 2024, Arvest Bank managed over $26 billion in assets. Jim Walton owned approximately 3.686 billion Walmart shares as of April 2024.
Alice L. Walton
Alice L. Walton, the only daughter of Sam Walton, is one of the wealthiest women in the United States, with a net worth of $72.5 billion. As of April 2024, she owned around 3.674 billion shares in Walmart.
Unlike her siblings, Alice Walton does not actively work for the company her father founded. Instead, she chairs the Crystal Bridges Museum of American Art, which she established in Bentonville, Arkansas, in 2005. The museum features works from renowned artists, including Andy Warhol.
Although Alice briefly worked as a children’s clothing buyer for Walmart after graduating from Trinity College in the early 1970s, her focus has been primarily on art and philanthropy.
S. Robson Walton
S. Robson (Rob) Walton, another son of Sam Walton, joined Walmart in 1969, seven years after its founding. He served as the chair of Walmart’s board of directors for 23 years, from 1992 to 2015, during which time the company expanded from a regional chain into one of the world’s largest retailers.
Rob Walton served in a number of positions prior to taking the chair, including vice chair, corporate secretary, senior vice president, and general counsel. A trained lawyer, he was a partner at the law firm Conner & Winters in Tulsa, Oklahoma, before joining Walmart.
Rob Walton retired from Walmart’s board in June 2024. As of April 2024, he owned over 3.661 billion shares in Walmart, with a net worth of $77.5 billion according to Forbes. Neither Jim Walton nor Alice Walton currently hold directorial positions at Walmart.
Who Owns Walmart – Top Institutional Shareholders
Institutional investors hold about 35% of Walmart’s total outstanding shares, a relatively modest proportion compared to other large-cap stocks.
This lower percentage is primarily due to the Walton family’s majority ownership, controlling approximately 46.51% of the company’s total shares.
John T. Walton Estate Trust
The John T. Walton Estate Trust, named after the late son of Sam Walton, owns more than three billion Walmart shares, according to the company’s Schedule 14A filed with the Securities and Exchange Commission (SEC) in 2024. The trust’s business address is a P.O. box in Bentonville, Arkansas.
Jim, Alice, and Rob Walton serve as cotrustees for the trust, giving them the authority to sell or vote on these shares. The Walton children also manage Walton Enterprises, the private holding company through which the Walton family oversees their Walmart ownership interests.
Vanguard Group
As of September 30, 2023, the world’s largest mutual fund and exchange-traded fund (ETF) management business, Vanguard Group, has around $7.8 trillion in assets under management (AUM). One of its largest ETFs, the Vanguard S&P 500 ETF (VOO), managed about $1.1 trillion in AUM, with Walmart representing 58% of its holdings as of February 2024.
Vanguard owned roughly 412.5 million Walmart shares as of April 2024, accounting for about 5.12% of the total shares outstanding.
BlackRock
BlackRock is one of the world’s largest investment management firms, providing a wide range of services including investment, advisory, and risk management. Founded in 1988, BlackRock has expanded its operations to 36 countries.
Investors may recognize BlackRock for its mutual funds and iShares ETFs, which offer access to various markets, including equity, fixed-income, and commodities. As of December 31, 2023, BlackRock managed over $10 trillion in AUM.
By March 2024, BlackRock held approximately 293.91 million Walmart shares, representing about 3.65% of the company’s total shares outstanding.
Sources:
- https://businessmodelanalyst.com/who-owns-walmart/
- https://corporate.walmart.com/about/history
- https://en.wikipedia.org/wiki/Sam_Walton
- https://www.investopedia.com/articles/insights/060416/top-4-walmart-shareholders-wmt.asp#:~:text=There%20are%20about%2010%2C500%20Walmart,%2C%20Vanguard%20Group%2C%20and%20BlackRock.
