Samuel Moore Walton (March 29, 1918 – April 5, 1992), was an American businessman and entrepreneur born in Kingfisher, Oklahoma who founded two American retailers Wal-Mart and Sam's Club. He was the patriarch of the Walton family, one of the richest families in the world. Image File history File links No higher resolution available. ... David Henry Hickman High School (commonly Hickman or HHS) is a coeducational public secondary school in Columbia, Missouri, United States, serving students in grades 10–12. ... is the 88th day of the year (89th in leap years) in the Gregorian calendar. ... 1918 (MCMXVIII) was a common year starting on Tuesday of the Gregorian calendar (see link for calendar) or a common year starting on Wednesday of the Julian calendar. ... Kingfisher is a city in Kingfisher County, Oklahoma, United States. ... is the 95th day of the year (96th in leap years) in the Gregorian calendar. ... Year 1992 (MCMXCII) was a leap year starting on Wednesday (link will display full 1992 Gregorian calendar). ... A Chairman is the presiding officer of a meeting, organization, committee, or other deliberative body. ... Wal-Mart Stores, Inc. ... The United States dollar is the official currency of the United States. ... The Forbes 400 or 400 Richest Americans (est. ... is the 88th day of the year (89th in leap years) in the Gregorian calendar. ... 1918 (MCMXVIII) was a common year starting on Tuesday of the Gregorian calendar (see link for calendar) or a common year starting on Wednesday of the Julian calendar. ... is the 95th day of the year (96th in leap years) in the Gregorian calendar. ... Year 1992 (MCMXCII) was a leap year starting on Wednesday (link will display full 1992 Gregorian calendar). ... Kingfisher is a city in Kingfisher County, Oklahoma, United States. ... Wal-Mart Stores, Inc. ... Sams Club is a membership-only warehouse club owned and operated by Wal-Mart Stores, Inc. ... The Walton Family is arguably the richest family in the world (the dispersed fortunes of the Rockefellers and the like being unknown to the public), their wealth inherited from Bud and Sam Walton, founders of the worlds largest retailer, Wal-Mart. ...

Early life

Walton was born to Thomas Gibson Walton and Nancy Lee Walton near Kingfisher, Oklahoma on March 29, 1918. There, he lived with his parents on their farm until 1923. Sam's father decided farming did not generate enough income on which to raise a family, so he decided to go back to a previous profession of a mortgage man. So he and his family (now with another son, James born in 1921) moved from Oklahoma to Missouri. There they moved from one small town to another for several years. While attending 8th grade in Shelbina, Sam became the youngest Eagle Scout in the state's history.^[1] In adult life, Walton became a recipient of the Distinguished Eagle Scout Award from the Boy Scouts of America.^[2] Kingfisher is a city in Kingfisher County, Oklahoma, United States. ... is the 88th day of the year (89th in leap years) in the Gregorian calendar. ... 1918 (MCMXVIII) was a common year starting on Tuesday of the Gregorian calendar (see link for calendar) or a common year starting on Wednesday of the Julian calendar. ... For other uses, see Oklahoma (disambiguation). ... This article is about the U.S. state. ... Shelbina is a city located in Shelby County, Missouri. ... An Eagle Scout is a Scout with the highest rank attainable in the Boy Scouting program of the Boy Scouts of America (BSA). ... The Distinguished Eagle Scout Award, is a special award, awarded only to Eagle Scouts, for distinguished service in his profession or to the community for a period of at least 25 years after earning his Eagle Scout rank. ... For the Boy Scouting program within the BSA, see Boy Scouting (Boy Scouts of America). ...

Walton excelled physically in high school, playing basketball and football as starting quarterback for Columbia's David H. Hickman High School in 1935, when they won the state title. While at Hickman, he also served as vice president of the student body in his junior year and as president in his senior year. He performed well enough academically to become an honors student. For other uses, see High school (disambiguation). ... This article is about the sport. ... A running back sweeps the left end in a high school football game near // Link title Cincinnati, Ohio High school football or prep(s) football is one of most popular interscholastic sports at high schools in the United States and among the most popular in Canada after ice hockey. ... A starting lineup in sports refers to the set of players actively participating in the event when the game begins. ... Navy quarterback Aaron Polanco sets up to throw. ... David Henry Hickman High School (commonly Hickman or HHS) is a coeducational public secondary school in Columbia, Missouri, United States, serving students in grades 10–12. ...

Growing up during the Great Depression, Walton had numerous chores to help make financial ends meet for his family. He milked the family cow, bottled the surplus and drove it to customers. Afterwards, he would deliver newspapers on a paper route. Upon graduating, he was voted "Most Versatile Boy." For other uses, see The Great Depression (disambiguation). ...

After high school, Walton decided to attend college, hoping to find a better way to help support his family. He attended the University of Missouri and majored in economics and was an ROTC officer. During this time, he worked various odd jobs, including waiting tables in exchange for meals. Also during his time in college, Walton joined the estimable Zeta Phi chapter of Beta Theta Pi fraternity. He was also tapped by QEBH, the well-known secret society on campus honoring the top senior men. Upon graduating, he was voted "permanent president" of the class. He was also a member of the professional business fraternity Alpha Kappa Psi. This article is about the university in Columbia. ... The Reserve Officer Training Corps (ROTC) is a training program of the United States armed forces present on college campuses to recruit and educate commissioned officers. ... Badge of the Zeta Phi Society. ... Beta Theta Pi (ΒΘΠ) is a social collegiate fraternity that was founded at Miami University in Oxford, Ohio, USA, where it is part of the Miami Triad which includes Phi Delta Theta and Sigma Chi. ... QEBH is a senior honorary society that is unique to the University of Missouri-Columbia. ... ΑΚΨ (Alpha Kappa Psi) is a co-ed professional business fraternity. ...

Walton joined JCPenney as a management trainee in Des Moines, Iowa three days after graduating from college. This position earned him $75 a month. He resigned in 1942 in anticipation of being inducted into the military for service in World War II. In the meantime, he worked at a DuPont munitions plant near Tulsa, Oklahoma. There he met his future wife, Helen Robson, in April 1942. She and Sam were married February 14, 1943. J. C. Penney Company, Inc. ... “Des Moines” redirects here. ... Combatants Allied powers: China France Great Britain Soviet Union United States and others Axis powers: Germany Italy Japan and others Commanders Chiang Kai-shek Charles de Gaulle Winston Churchill Joseph Stalin Franklin Roosevelt Adolf Hitler Benito Mussolini Hideki Tōjō Casualties Military dead: 17,000,000 Civilian dead: 33,000... This article is about E.I. du Pont de Nemours and Company. ... Nickname: Location in the state of Oklahoma Coordinates: , Country State Counties Tulsa, Osage, Rogers Government  - Mayor Kathy Taylor (D) Area  - City 186. ... Helen Robson Walton (b. ... is the 45th day of the year in the Gregorian calendar. ... Year 1943 (MCMXLIII) was a common year starting on Friday (the link will display full 1943 calendar) of the Gregorian calendar. ...

Soon afterwards, Walton joined the military in the U.S. Army Intelligence Corps, supervising security at aircraft plants and prisoner of war camps. In this position he served in the continental United States. He eventually reached the rank of Captain. Military Intelligence Branch Insignia In the United States Armed Forces, Military Intelligence refers specifically to the intelligence components of the United States Army. ... The continental United States is a term referring to the United States situated on the North American continent. ... For other uses, see Captain (disambiguation). ...

The first stores

In 1945, after leaving the military, Walton decided he wanted to own a department store but would settle for a variety store. With some help from his father-in-law with a loan of $20,000, plus $5000 he had saved from his time in the Army, Walton purchased a Ben Franklin variety store in Newport, Arkansas. The store was a franchise of the Butler Brothers chain. Ben Franklin Stores are a chain of five and dime discount stores found in small towns throughout the United States. ... Newport is a city in Jackson County, Arkansas, 84 miles (135 km) northeast of Little Rock, on the White River. ... Butler Brothers store Butler Brothers was a chain of Five and dime retail outlets in the United States started by Edward Burgess Butler. ...

It was here that Walton pioneered many concepts that would prove to be crucial to his success. Walton made sure the shelves were consistently stocked with a wide range of goods at low prices. His store also stayed open later than most other stores, especially during the Christmas season. He also pioneered the practice of discount merchandising by buying wholesale goods from the lowest priced supplier. This allowed him to pass on savings to his customers, which drove up his sales volume. Higher volumes allowed him to negotiate even lower purchase prices with the wholesaler on subsequent purchases. Walton's store led in sales and profits in the Butler Brothers' six-state region. One factor that made this store successful was its central location, making it accessible to a wide range of customers. In an attempt to limit the expansion of his main competitor, the Sterling Store, Walton leased a nearby Kroger store and opened it in 1950 as the "Eagle" department store, but it didn't fare as well. For other uses, see Christmas (disambiguation). ... For other uses, see Kroger (disambiguation). ...

Due to the variety store's enormous success, the landlord, P. K. Holmes, refused to renew the lease when it expired, desiring to pass the store onto his son. The lack of a renewal option, together with the outrageous rent of 5% of sales, were early business lessons to Walton. Despite forcing Walton out, Holmes bought the store's inventory and fixtures for $50,000, which Walton called "a fair price."

Walton's Five and Dime (a.k.a. Walton's 5 & 10)

Sam Walton's original Walton's Five and Dime, now the Wal-Mart Visitor's Center, Bentonville, Arkansas.

Before long, Walton arranged for another location for a new store. Unable to find a new location in Newport, Walton located a variety store in Bentonville, Arkansas which he would open as another called "Walton's Five and Dime." In Bentonville, the Waltons became involved in numerous civic activities. Sam Walton served as president of the Rotary Club and the Chamber of Commerce. Image File history File linksMetadata 09-02-06-OriginalWaltons. ... Image File history File linksMetadata 09-02-06-OriginalWaltons. ... Wal-Mart Stores, Inc. ... Sam Waltons original Waltons Five and Dime, now the Wal-Mart Visitors Center, in the center of Bentonville Monument in homage to James H. Berry, the Confederacy, and the Southern Soldier, called by many Feddy, located in the town square of Bentonville, facing the Wal-Mart Visitor... Sam Waltons original Waltons Five and Dime, now the Wal-Mart Visitors Center, in the center of Bentonville Monument in homage to James H. Berry, the Confederacy, and the Southern Soldier, called by many Feddy, located in the town square of Bentonville, facing the Wal-Mart Visitor... Logo of Rotary International Rotary International is an organisation whose members comprise Rotary Clubs (service clubs) located all over the world. ... Chambers of commerce are business advocacy groups which are usually not associated with government. ...

A chain of Ben Franklin stores

Over time, Walton went on to open more Ben Franklin stores with the help of his brother, father-in-law, and brother-in-law. In 1954, he opened a store with his brother in a shopping center in Ruskin Heights, a suburb of Kansas City. He opened another in Arkansas, but it failed to be as successful as his other stores. Walton decided to concentrate on retail business instead of the shopping centers and opened larger stores which were called "Walton's Family Center." Nickname: Location in Jackson, Clay, Platte, and Cass Counties in the state of Missouri. ...

Walton offered managers the opportunity to become limited partners if they would invest in the store they oversaw and then invest a maximum of $1,000 in new outlets as they opened. This motivated the managers to always try to maximize profits and improve their managerial skills. By 1962, Walton and his brother Bud owned sixteen variety stores in Arkansas, Missouri, and Kansas (fifteen Ben Franklin and the one independent Fayetteville store).

The first Wal-Mart

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The first true Wal-Mart opened in 1962 in Rogers, Arkansas. Wal-Mart eventually became the world's largest retailer. Image File history File links This is a lossless scalable vector image. ... Wal-Mart Stores, Inc. ... For the Fayetteville-Springdale-Rogers Metropolitan Area see Fayetteville-Springdale-Rogers metropolitan area Rogers is a suburban city in Benton County, Arkansas, United States. ...

Walton stated, "Each Wal-Mart store should reflect the values of its customers and support the vision they hold for their community." Wal-Mart has outreach programs led by local employees who grew up in the area and understand its needs. Wal-Mart becomes involved in local communities by allowing local charities to hold bake sales on store property, and by offering scholarships to graduating seniors from local high schools.^{[citation needed]} Wal-Mart's slogan is "The lowest Prices. Guaranteed!" // Legal definitions A charity is a trust, company or unincorporated association established for charitable purposes only. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... This article is about scholarship (noun) and scholarship as a form of financial aid. ... For other uses, see High school (disambiguation). ...

Legacy and death

• In 1985, Sam Walton began a program designed to stem the 'tide of communism' in Central America by promoting capitalism and privatization.

• In 1998, Walton was included in Time's list of 100 most influential people of the 20th Century. Walton was honored for all his pioneering efforts in retail in March 1992, when he received the Presidential Medal of Freedom from President George H. W. Bush. That year, the Jiangsu province of the People's Republic of China awarded him the Golden Star Foreigner's Award for "tireless assistance in the development of People's owned factories in the Suzhou area".

• Forbes ranked Sam Walton as the richest man in the United States from 1985 to 1988, ceding the top spot to John Kluge in 1989 when the editors began to credit Walton's fortune jointly to him and his four children. (Bill Gates first headed the list in 1992, the year Walton died). Wal-Mart Stores Incorporated also runs Sam's Club warehouse stores. Wal-Mart stores operate in The United States, Mexico, Canada, Argentina, Brazil, China, Puerto Rico and in the United Kingdom.

• He left his ownership in Wal-Mart to his wife and their children: S. Robson "Rob" Walton, John T. Walton, Jim Walton, and Alice Walton. Rob Walton succeeded his father as the Chairman of the Board of Wal-Mart, and John was a director until his death in a 2005 plane crash. The others are not directly involved in the company (except through their voting power as shareholders). The Walton family held 5 spots in the top 10 richest people in the United States until 2005. Two daughters of Sam's brother Bud Walton, Ann Kroenke and Nancy Laurie, hold smaller shares in the company and are also billionaires in their own right.

• Walton supported various charitable causes, including those of his church, the Presbyterian Church (USA). The Sam and Helen R. Walton Award was created in 1991 when the Waltons made a gift of six million dollars which included an endowment in the amount of three million dollars to provide annual awards to new church developments that are working in creative ways to share the Christian faith in local communities.

Walton died Sunday April 5, 1992, of a type of multiple myeloma.^[3] This article is about the form of society and political movement. ... For other uses, see Central America (disambiguation). ... For other uses, see Capitalism (disambiguation). ... This article does not adequately cite its references or sources. ... TIME redirects here. ... The Presidential Medal of Freedom The Presidential Medal of Freedom is one of the two highest civilian awards in the United States and is bestowed by the President of the United States (the other award which is considered its equivalent is the Congressional Gold Medal, which is bestowed by an... George Herbert Walker Bush (born June 12, 1924) was the 41st President of the United States, serving from 1989 to 1993. ...   (simplified Chinese: ; traditional Chinese: ; pinyin: ; Wade-Giles: Chiang-su; Postal map spelling: Kiangsu) is a province of the Peoples Republic of China, located along the east coast of the country. ... For other uses, see Forbes (disambiguation). ... John Werner Kluge (born September 21, 1914) is an entrepreneur who was born in Chemnitz, Germany, best known as a television industry mogul in the United States. ... For other persons named Bill Gates, see Bill Gates (disambiguation). ... Sams Club is a membership-only warehouse club owned and operated by Wal-Mart Stores, Inc. ... For other uses, see United States (disambiguation) and US (disambiguation). ... Samuel Robson (Rob) Walton (born 1945, in Tulsa, Oklahoma) is the eldest son of Sam Walton, founder of Wal-Mart, the worlds largest retailer. ... John Thomas Walton, (October 8, 1946 – June 27, 2005), was a son of Wal-Mart founder Sam Walton. ... Jim C. Walton (born 1948?) is the youngest son of Walmart founder Sam Walton. ... Alice Louise Walton (born October 7, 1949) is the daughter of Wal-Mart founder Sam Walton and Helen Walton, and sister of S. Robson Walton, John T. Walton (d. ... A chair or seat is also a seat of office, authority, or dignity, such as the chairperson of a committee, or a professorship at a college or university, or the individual that presides over business proceedings. ... Bud Walton Arena Inside of Bud Walton Arena during a game. ... Ann Walton Kroenke is, indirectly, an heir to part of the Wal-Mart fortune. ... Nancy Walton Laurie is the daughter of the late Bud Walton, the brother and business partner of Wal-Mart founder Sam Walton. ... A billionaire is a person who has a net worth of at least one billion units of currency, such as United States Dollars (USD), Pounds or Euros. ... Emblem of the PC(USA) The Presbyterian Church (U.S.A.) or PC(USA) is a mainline Protestant Christian denomination in the United States. ... is the 95th day of the year (96th in leap years) in the Gregorian calendar. ... Year 1992 (MCMXCII) was a leap year starting on Wednesday (link will display full 1992 Gregorian calendar). ... Multiple myeloma (also known as MM, myeloma, plasma cell myeloma, or as Kahlers disease after Otto Kahler) is a type of cancer of plasma cells which are immune system cells in bone marrow that produce antibodies. ...

Further reading

• Vance H. Trimble, Sam Walton: The Inside Story of America's Richest Man, 1990.
• Sam Walton and John Huey, Sam Walton: Made in America : My Story, 1996. ISBN 0553562835.

References

Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 360th day of the year (361st in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 363rd day of the year (364th in leap years) in the Gregorian calendar. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... is the 61st day of the year (62nd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... is the 38th day of the year in the Gregorian calendar. ...

External links

Wikiquote has a collection of quotations related to:

Sam Walton

• Time 100 Builders & Titans: Sam Walton Dec. 7, 1998
• Business Week Sam Walton: The King of the Discounters August 9, 2004
• Sam M. Walton College of Business, University of Arkansas
• Sam Walton at Find A Grave