Alice Louise WALTON

Primary Position Shareholder Age 66
Primary Company Wal-Mart Stores Birthday 7 Oct 1949
Estimated Net Worth At least $35.9 billion Residences Millsap, Texas, United States
New York, New York, United States
Source Inheritance
Hometown
Newport, Arkansas, United States
Religion Christian
Ethnicity Caucasian
Alternative Names Marital Status Divorced

Biography

Father, Samuel Moore (Sam) Walton, grew up in Columbia, Missouri; in 1940, he joined J.C. Penney as a Management Trainee. Two years later, he was drafted into the U.S. Army Intelligence Corps, resigning as a Captain in 1945. He married Helen Robson in 1943. After his discharge, Sam Walton borrowed $20,000 from his father-in-law and purchased a Ben Franklin variety store in Newport, Arkansas. After a dispute with his landlord, he relocated the store to Bentonville, Arkansas in 1950 and subsequently opened several Ben Franklin stores in Arkansas, Kansas and Missouri. The first Wal-Mart store was opened in Rogers, Arkansas in 1962, tailoring store design to the small towns where he opened them and emphasizing logistics and efficient delivery. The chain grew exponentially. By 1978, the company had 190 stores and was publicly traded. Sam Walton served as Chairman of Wal-Mart until his death in 1992 and left his fortune to his wife and four children. Eldest son, Samuel Robson Walton, became the Chairman of Wal-Mart while second son, John Walton, became a Director; John passed away in 2005. Youngest son, James Walton, became the Chairman of Arvest Bank Group, a bank owned by the Walton family, and mother, Helen, became a Director. Alice Walton, the only daughter of Sam and Helen Walton earned a Bachelor's degree in Economics and Finance from Trinity University in San Antonio, Texas. She joined Wal-Mart where she worked for a short time as a children's clothes buyer. She then joined First Commerce Corporation, a multibank holding company, as a Money Manager and in 1975, moved to E.F. Hutton & Company, where she worked as a Stockbroker until 1979. In 1982, Walton joined Arvest Bank Group as Vice Chairman and head of investment-related activities. In 1988, she founded investment bank, the Llama Company, and served as its Chairman, President and CEO. Walton became a major Shareholder in Wal-Mart Stores after the death of her father in 1992. An avid horsewoman and equestrian, she currently lives in Millsap, Texas where she raises cutting horses at the Rocking W Ranch. Her interest in art led her to help found the Crystal Bridges Museum of American Art in Bentonville, Arkansas, where she serves as the Chairman. She has previously served as a Director of Pace Industries and Leggett & Platt. She serves as a Director at the Walton Family Foundation, a non-profit family foundation, and Camp War Eagle, a recreational summer youth camp for children. She and her siblings are the major shareholders of Wal-Mart Stores.

Education History

Institution Name Qualification Name Education Type Start Date End Date
Trinity University Bachelor's degree Undergraduate 1971

Interesting Facts

Received an Honorary Doctor of Arts and Humane Letters degree from the University of Arkansas in 2012. During the ceremony, mentioned that she had missed her own graduation ceremony following her senior year at Trinity University to go on a float trip with her family, adding "I was on the Snake River having a grand ol' time."
The Walton family currently owns more than 50% of Wal-Mart Stores, both directly, and indirectly, through Walton Enterprises.
Walton was inducted into the Arkansas Aviation Hall of Fame in 2001, and named "Arkansan of the Year" by The Arkansan Times in January 2012.
The University of Arkansas established the Alice L. Walton Chair in Finance in 1996.
The collection of American art in the Crystal Bridges Museum of American Art in Bentonville spans more than 300 years.
Walton's Rocking W Ranch, in Millsap, Texas, is named after one of her champion stallions, the first foal of Walton's favorite horse, Boon San Kitty, the 2004 NCHA Horse of the Year. In September 2015, she listed the 1,432-acre ranch for sale for $19.7 million.
Walton is responsible for creating Camp War Eagle, a summer camp in northwest Arkansas that brings together children of different socio-economic backgrounds
On the night of her 62nd birthday in 2011, Alice Walton was pulled over for speeding in a construction zone; a sobriety test showed her to be legally intoxicated. She was arrested for driving under the influence (DUI) that night and released on bond the following morning. She was previously detained for DUI in 1998.
In 1979, the United States Securities and Exchange Commission (SEC) accused Walton, then a broker at E.F. Hutton & Company, and 11 other Hutton employees, of making "unsuitable" option trades for customers. In a letter she wrote to the SEC that year, she denied that she violated any laws but accepted settlement to "avoid protracted litigation". She was subsequently suspended from the securities business for six months.
In November 2014, a labor group chained a food donation bin to the awning of Walton's Park Avenue condominium, saying that Wal-Mart employees want "decent pay" rather than charity. Wal-Mart employees planned to strike later that month, on Black Friday, at 1,600 U.S. stores, demanding full-time, steady employment and a living wage of $15.
Purchased her first piece of art at the age of ten. Walton is an avid art buyer, often doing so anonymously. In 2005, she bought a painting called "Kindred Spirits", by American painter Asher Durand, from the New York Public Library, for an estimated $35 million. Among her recent purchases are: Jasper Johns' "Alphabets" for $11 million; a 1985 Andy Warhol silkscreen of Dolly Parton; a 2009 Chuck Close triptych depicting Bill Clinton; and Norman Rockwell's 1943 "Rosie the Riveter", for $4.9 million.
In June 2014, Walton purchased a 6,346-square-foot condominium located in New York City. The unit, located on the 30th and 31st floors, has five bedrooms and six bathrooms, a media room, a library and 52 windows offering both city and park views.
In 1989, while driving to work, Walton struck and killed Oleta Hardin, a 50-year-old mother of two who stepped into the road in Fayetteville, Arkansas; no charges were ever filed.
Walton's lifelong interest in art appears to have begun by age ten, when she acquired her first piece, a reproduction of Picasso's 'Blue Nude' purchased from her father's five-and-dime store.
Walton was ranked one among the "Top 200 Art Collectors" by ArtNews from 2012 to 2015.
In 2013, Crystal Bridges Museum of American Art acquired the Frank Lloyd Wright-designed Bachman Wilson House, originally built along the Millstone River in Somerset, New Jersey in 1954, and arranged to have it relocated and reconstructed on the museum's campus in Bentonville, Arkansas.

Interests, Passion, Hobbies

Hobby Name Description
Business - Entrepreneurship Founded an investment bank, the Llama Company, which operated from 1988 until the late 1990s, and where she served as President, Chairman and CEO.
Philanthropy Serves as a Director at the Walton Family Foundation, which donated more than $310 million in 2013 to various causes supporting primarily education, freshwater and marine conservation, and quality-of-life initiatives in Arkansas and Mississippi.
Outdoors - Fishing Holds an Arkansas fishing license.
Outdoors - Hunting Holds a hunting license issued by the state of Arkansas.
Animals - Horses An equestrian and horse lover, Walton has lived since the late 1990s in Millsap, Texas where she raises cutting horses on the 1,432-acre Rocking W Ranch. The ranch, near Fort Worth, was listed for sale in September 2015.
Art Walton is a significant art collector, with a particular interest in American and contemporary art, and has been listed for several years as among the world's top 200 collectors by ARTnews. She was reportedly introduced to watercolors and painting as a child by her mother Helen, and apparently served as the driving force behind the creation of the Crystal Bridges Museum of American Art in Bentonville, Arkansas.
Agriculture - Ranching Appears to have a passion for ranching; purchased the Rocking W Ranch in the late 1990s and spent time there until listing it for sale in September 2015 for $19.7 million.

Philanthropy

Giving Profile
Generous philanthropist channels donations through the Walton Family Foundation, where Walton is a Director. Reportedly, has been an active Member on the Board of the University of Arkansas for Medical Sciences. Led the family foundation's efforts to create the Crystal Bridges Museum of American Art in Bentonville, Arkansas, to which the foundation donated more than $145 million in 2013. The Walton Family Charitable Support Foundation donated $300 million to the University of Arkansas in 2002. The Walton Family Foundation also donated $159 million to K-12 education reforms and $71.4 million to environmental initiatives in 2011. In 2012, the foundation donated more than $432 million to various causes including education, freshwater and marine conservation, and quality-of-life initiatives in Arkansas and Mississippi. From 2007 to 2012, Walton and her siblings have given about $2 billion to the Walton Family Foundation. In December 2015, Walton donated around 3.7 million shares of Wal-Mart Stores worth about $225 million to the Walton Family Holdings Trust, a trust formed in 2015 to fund the Walton family's philanthropy.

Clubs & Boards

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Known Associates

Total known associates: 30. Total known associates net worth: $5.0 billion. To view details, sign up for Wealth-X Professional or Contact Us.

Family Details

Political Interests

Party Affiliation Bipartisan Political Profile Generous political donor is a contributor to both major parties; her lifetime giving exceeds $3 million. Recipients include Douglas R. Forrester, Norm Coleman, Mark Steven Kirk, Kevin W. Yoder, Hillary Rodham Clinton, Blanche L. Lincoln, Progress of America Voter Fund, Restore Our Future, and the National Republican Senatorial Committee. In December 2013, Walton donated around $25,000 to Arlington, Virginia-based political action committee 'Ready for Hillary' in support of former U.S. Secretary of State Hillary Clinton's 2016 Presidential campaign.