Undertanding S. Rob Walton
Samuel Robert Walton, commonly known as Rob Walton, was born on 28 October 1944 in Tulsa, Oklahoma, USA. He is widely recognized as the chairman of Wal-Mart and is the oldest of three surviving siblings, with Alice and Jim, born to Sam and Helen Walton. Sam Walton, the founder of Wal-Mart, and Christy Walton, the widow of his brother John, together with Rob, control over 50% of Wal-Mart shares. Forbes listed Rob Walton as the 12th richest person in the world in 2015.
Rob Walton’s Estimated Net Worth
Rob Walton’s current net worth is estimated to be nearly $40 billion according to Forbes, with the majority of his wealth stemming from his financial interest in Wal-Mart. His reputed salary as the chairman of Wal-Mart is $250,000.
Rob Walton attended The College of Wooster, where he now serves as a trustee, and graduated from the University of Arkansas in 1966 with a BSc in business administration. He also holds a Doctor in Jurisprudence degree from the Columbia University School of Law, which he earned in 1969. Initially, he worked at the law firm Conner & Winters in Tulsa, representing Wal-Mart’s interests.
In 1978, Rob Walton joined Wal-Mart as a senior vice president, and by 1982, he was promoted to vice chairman. When his father passed away on 7 April 1992, he succeeded him as the chairman of the board of directors, a position he still holds today.
Since its establishment in 1962, Wal-Mart has blossomed into the world’s largest retailer, operating 11,000 stores and generating $473 billion in revenue in 2014, with more than 110,000 employees in over 60 countries and 60,000 in the USA alone.
Besides Wal-Mart, Rob Walton, along with Jim Walton (CEO) and John Walton’s estate, owns 96% of the family’s Arvest Bank, which had assets totaling about $20 billion in early 2015.
Furthermore, Rob Walton is a member of the Walton family’s venture capital firm, Madrone Capital Partners, which holds a stake in Hyatt Hotels valued at approximately $1 billion. These ventures have significantly contributed to Rob Walton’s net worth and continue to do so.
Similar to many billionaires, Rob Walton is involved in philanthropy, pledging over $2 billion with his siblings to the Walton Family Foundation between 2008 and 2014. He has also made substantial donations to the federal Republican Party over the past 15 years.
In his personal life, Rob Walton had three children with his first wife, Melani Lowman, from whom he divorced in 1976. He then married Carolyn Funk in 1978, and they divorced in 2000. He is also known for flying a Falcon jet that he pilots himself and racing vintage sports cars. As of 2004, he owned a 1970 Lotus, a Cobra, and a Scarab, and participated in the Monterey Historic Automobile Races with one of his sons. Rob Walton reportedly commissioned a custom gold Ferrari in 2009 and in 2012, he was involved in an accident with his Shelby Daytona Cobra Coupe, one of only five made and worth at least $15 million, when he drove it off a racing track.
