Jim Walton

Christened as James Carr Walton, Jim Walton is the second youngest child of Sam Walton, Wal-Mart’s founder. He is reported to have an estimated net worth of $26.7 Billion. He also owns the largest shares of ownership of the family-owned Arvest Bank to which his total number of shares amount to 96%. Moreover, he serves as the chairman of the newspaper and printing company Community Publishers Inc. which is valued at US $18.5 million according to Dun and Bradstreet.

Quick Facts

Net Worth: US $26.7 Billion

Source: Wal-Mart shares, Arvest Bank and Community Publishers Inc.

Born: June 7, 1948 (Age 65)

Nationality: American

jim walton

Wealth and Net Worth

Walton is estimated to have an amazing wealth of USD $26.7 billion as of the end of the first quarter of 2013.  While Wal-Mart is a public company, most of the family’s share invested in Wal-Mart is held by the Walton Enterprise which is the family-run holding company managed by Jim along with his siblings Alice and Rob.

jim walton

The heir to the Walmart Empire

Aside from the Walton Enterprise, Jim is also Arvest Bank’s Chairman, which is a family-owned bank. It was revealed that he owns 96% of the total shares of the Arvest Bank and that his bank assets totaled to about US $14.2 billion. On the other hand, he also serves as the chairman of Community Publishers Inc. which is a printing company that publishes newspapers and operates in states like Missouri, Arkansas and Oklahoma. 

jim walton

Jim owns 96% of the shares of Arvest Bank

Career and Professional Background

Jim only joined Wal-Mart recently after his brother, John Walton, died in a tragic plane crash. He replaced his brother and is currently a member of the Executive Committee board. Although he was new at Wal-Mart, he served as the chairman and CEO of Arvest Bank for several years.

jim walton

Jim started his banking career as a teller at the Bank of Pea Ridge which is one of the family-owned banks before he climbed up the corporate ladder. In 1982, he co-founded the Community Publishers Inc. after purchasing the Bentonville’s daily newspaper from his own father.  Currently, the publishing company operates 20 newspapers and is one of the largest publishing companies in the country.

Political Contributions

Aside from being well-known as the son of one of the country’s richest business magnate, Jim Walton is also known as a prolific donor to politicians. In fact, he was reported to be in the top list of Arkansans giving financial support to political candidates according to the Arkansas Democrat-Gazette. 

jim walton

He has given a total of USD $636,000 in the federal elections since the 2008 election cycle. In fact, he had made several headlines for giving large contributions during the 2012 presidential elections to which most of his contributions was used to fund the campaign of Mitt Romney.

Community Connections 

Jim Walton lives a busy life and aside from being part of the Board of Directors (BOD) for the Walton Family Foundation, he is also a member of the Arkansas Public School Resource Center. He is also a board member of the non-profit organization called Economics Arkansas. He also served at the Northwest Arkansas Council which is a non-profit organization aimed at the regional development of the state.

jim walton parents

Jim Walton's parents. The late Sam and Helen Walton.

Personal Life

The third and youngest child of Sam and Helen Walton, Jim is married to Lynne McNabb Walton and has four children namely Alice, Steuart, Thomas and James. His family currently resides in Bentonville, Arizona.

Interesting Facts about Jim Walton

  • He went to the University of Arkansas with a Bachelors of Arts in marketing degree.
  • He has a history of providing support on a state level to extreme right weighted agenda.
  • He also provides support to Arkansas Family Council Action Committee which opposes LGBT rights.

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References:

Forbes (The ultimate site for billionaire rankings)

CelebrityNetWorth (The ultimate site for net worth of celebrities)

TheRichest (Great site for things about money and rich people)

Wikipedia (Greatest site on earth for lots of information)