He inherited a fortune from his father. But would he continue to uphold the family legacy? Rob Walton is no stranger to wealth. He's also not afraid of hard work. Despite having billions handed to him, he demonstrates how proper money management and business savvy will ensure his family remains rich for generations to come.
Discover Rob Walton's net worth and how he spends the Walmart family fortune.
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|Rob Walton Net Worth:
|Samuel Robson "Rob" Walton
|Date of Birth:
|October 27, 1944
|Tulsa, Oklahoma, USA
|The University of Arkansas and Columbia Law School
|Source of Wealth:
|Heir to the Walmart Family Fortune
|Eldest Son of Sam Walton, Walmart Founder
How rich is Rob Walton?
Just how much is Rob Walton worth? His net worth for 2023 is an astounding $62.1 billion! And most of that wealth comes from Walmart dividends.
Walmart might roll back prices for customers, but the company remains highly profitable. In the fiscal year that ended January 31, 2023, Walmart reported $611 billion in revenue worldwide.
Who is Rob Walton?
Rob Walton is one of the richest people in the world. And he can thank his father, Sam Walton of Walmart fame, for his wealth. But he didn't enter life with a silver spoon in his mouth.
Samuel Robson Walton entered the world On October 28, 1944, in Tulsa, Oklahoma. His parents—Sam and Helen Walton—went on to have four children in total. Rob has a younger sister, Alice, and two younger brothers, Jim and John. Unfortunately, John died in 2005.
Shortly after his son's birth, Sam Walton became an entrepreneur, buying a variety store in Newport, Arkansas. Over two decades, he scaled the store to include a chain of franchises. But Sam wanted more. In 1962, he opened the first Walmart location in Rogers, Arkansas.
S Robson Walton grew up watching his father successfully run and grow the Walmart franchise. However, he waited to follow in his dad's footsteps. Instead, he studied business administration at the University of Arkansas and obtained a Juris Doctor from Columbia Law School.
After completing law school, Rob Walton practiced at Conner & Winters Law Firm. It was the same firm that represented Walmart.
Rob Walton would soon play an essential role in the family business. In 1978, he became Walmart's Senior Vice President. And in 1982, he became Vice-Chairman. His voice was an integral part of the company's ever-growing success.
In 1992, Sam Walton passed away. Just two days after his dad’s death, Rob was named the new Chairman of the Board of Directors for Walmart. He remained in that position until officially retiring in 2015.
Heir to the Walmart Family Fortune
After Sam Walton's passing, Rob and his siblings became heirs to his fortune. Rob, Jim, and Alice remain the top three Walmart shareholders, collectively owning 50% of the company. And the continued success of Walmart made Rob Walton part of the wealthiest family in the world.
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Rob Walton's Personal Life
Rob Walton is a father of three. He is tight-lipped about his previous marriages and keeps his children out of the spotlight.
How old is Rob Walton as of May 2023? He's 78. What about Rob Walton's wife? His third wife, Melani Walton, is 48. Despite their 30-year age gap, the couple has been married for nearly two decades.
What are the sources of income for Rob Walton?
Sam Walton taught his children the importance of diversification. Here's how Rob Walton continues to grow his wealth:
1. Walmart Stock Holdings
He and his siblings hold and manage their Walmart shares in the Walton Family Holdings Trust. Dividend payouts bring in about $5.5 million every 24 hours.
2. Stake in Arvest Bank
He owns a 25.5% stake in Arvest Bank, the largest regional bank in Arkansas. Since 1992, Rob Walton has earned $11 billion from stock sales and dividends.
3. Partnerships in Sports Franchises
He became the richest NFL team owner after dropping $4.65 billion to buy the Denver Broncos.
4. Real Estate
He invests in real estate. His portfolio includes land on Hawaii's Big Island and land in Aspen, Colorado. Walton sold the latter for $30.8 million in 2022.
Where does Rob Walton live? Rob and Melani Walton own a lavish home in Paradise Valley, Arizona.
He co-founded the Rob and Melani Walton Foundation. The organization gifted $5 million to the Arizona Humane Society.
How much does Rob Walton earn from his shares in Walmart?
Rob, Jim, and Alice Walton are the top three Walmart shareholders, with 50% of the shares. How much money does the family earn from Walmart dividends? Over $5.5 million per day!
How much is Rob Walton's net worth?
As of May 2023, Robson Walton's net worth is $62.1 billion! He ranks #20 on Forbes' Real-Time Billionaires List, sandwiched between his siblings, Jim and Alice.
For reference, Rob Walton's net worth in 2022 was *only* $57.8 billion.
How did Rob Walton become wealthy?
Rob inherited his wealth. His father, Sam Walton, founded Walmart.
As of 2022, the Walton family is the richest in the world, with an estimated net worth of $224.5 billion.
What is the Walton Enterprises?
Walton Enterprises LLC is a private holding company owned by the Walton heirs. It's funded by Walmart dividends and other subsidiaries that are not publicly known.
What is the Walton Family Holdings Trust?
The Walton Family Holdings Trust is where all the Walton heirs manage their Walmart shares. The family formed the trust in 2015.
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What organizations has Rob Walton been involved with?
Although retired as Chairman of the Board of Walmart, Rob Walton remains active with many organizations. The most noteworthy include:
- Arizona State University Global Institute of Sustainability, co-chairman
- Conservation International, board of directors
- Mayo Clinic Arizona Leadership Council, member
- The College of Wooster, emeritus life trustee
How has Rob Walton used his wealth?
Walton's net worth gets put to good use. He regularly donates to noteworthy charities. Between 2008 and 2013, he and his siblings gave $2 billion to the Walton Family Foundation.
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How many cars does Rob Walton own?
Walton has an impressive vintage car collection worth $226 million. His garage competes with those of other wealthy celebrities. The billionaire owns dozens of cars. His most expensive rides include:
- 1963 Ferrari 250 GTO worth $45 million
- 1957 Ferrari 250 Testa Rossa worth $16.4 million
- 1965 Shelby Daytona Cobra Coupe worth $15 million
- 1957 Maserati 450 S worth $13 million
- 1953 Jaguar C-Type worth $3 million
- 1963 Corvette Grand Sport worth $1.5 million
What educational institutions has Rob Walton attended?
Rob Walton attended The College of Wooster, the University of Arkansas, and Columbia Law School.
What is Rob Walton's relationship with the Denver Broncos?
Rob Walton owns the NFL team! He purchased the Denver Broncos for $4.65 billion in 2022.
Rob Walton is proof that not all heirs are spoiled or bad with their money. He still worked hard to help grow and maintain his father's empire. As he once said, "I learned from my dad that change and experimentation are constants and important."
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