Shopping cart filled with groceries outside a large retail store, with shoppers and delivery trucks at sunset.

Samuel Moore Walton Biography: From Variety Stores to Walmart

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Sam Walton cofounded Walmart with his brother Bud after years of running Ben Franklin franchises. The business grew from a discount store in Rogers, Arkansas, into the largest retailer in the United States.

A Quick Look at the Life of Samuel Moore Walton

Biography Summary

Samuel Moore Walton, commonly known as Sam Walton, was an American retailer and Walmart cofounder. His career centered on expanding discount retailing in small-town markets. He also helped establish the Walton Family Foundation with his wife, Helen, and received the Presidential Medal of Freedom shortly before his death in 1992.

Profile

Full Name: Samuel Moore Walton

Common Name: Sam Walton

Born: March 29, 1918

Died: April 5, 1992, aged 74

Birthplace: Kingfisher, Oklahoma

Education: BA in economics, University of Missouri, 1940

Best Known For: Cofounding Walmart with his brother Bud Walton

Major Roles: Walmart chairman and chief executive officer

Major Honor: Presidential Medal of Freedom, 1992

From Missouri to J. C. Penney

Born in Kingfisher, Oklahoma, Walton grew up in Missouri. His parents were Thomas Gibson Walton and Nancy Lee Lawrence Walton. As a young person, he delivered newspapers and sold magazine subscriptions.

After graduating from the University of Missouri in 1940, he worked for J. C. Penney in Des Moines, Iowa. Military service followed during World War II. He left the U.S. Army in 1945.

Walton married Helen Robson in 1943. They had four children: Rob, John, Jim, and Alice. Helen’s father, L. S. Robson, helped finance Walton’s entry into franchise ownership.

Learning the Business in Newport

Walton acquired a Ben Franklin franchise in Newport, Arkansas, in 1945 for $25,000. There, he began experimenting with purchasing and pricing.

He studied competitors and sought cheaper suppliers, reducing prices and emphasizing sales volume. His discount strategy developed through these experiments.

The Newport store succeeded commercially, but its landlord did not renew the lease. Walton later recalled the experience: “It was the low point of my life.” He also said the setback taught him to scrutinize leases more carefully.

His next store, Walton’s Five and Dime, opened in Bentonville in 1950 as another Ben Franklin franchise. Walton adopted customer self-service and expanded his franchise operations before pursuing an independent chain.

The Decision to Open Walmart

Walton could not obtain franchiser backing for his discount venture. He and his brother James Lawrence “Bud” Walton borrowed money to build a store in Rogers, Arkansas. The first Walmart opened on July 2, 1962.

The brothers built their discount chain around small-town markets. Bud was a cofounder and business partner as the venture expanded beyond Sam’s earlier franchise operations.

The Early Stores and Federal Wage Law

The young business also faced a dispute over minimum wages. In West v. Wal-Mart, employees challenged wages paid by three store corporations. The defendants acknowledged paying below the statutory rates but argued that their businesses were exempt from the Fair Labor Standards Act’s minimum-wage requirements.

On February 16, 1967, Judge John E. Miller held that the three corporations constituted one enterprise and were subject to those requirements. The opinion found that Walton directed managers across the stores.

The court requested a determination of amounts due, if any. The ruling addressed the corporate defendants’ coverage under the law; it was not a criminal conviction or a personal damages judgment against Walton.

Public Capital and the Systems Behind Expansion

Walmart incorporated in 1969, offered stock publicly in 1970, and listed on the New York Stock Exchange in 1972. According to the company’s account, the public offering financed expansion.

Walton relinquished the chairmanship in 1974 and returned in 1976.

As the chain grew, distribution became a substantial part of its operations. Walmart’s annual report for the year ended January 31, 1977, listed 153 stores, primarily serving smaller communities, and reported that roughly 80% of merchandise flowed through company distribution facilities.

In his signed shareholder message, Walton emphasized expense control, inventory turnover, training, and distribution.

A management team shared responsibility for the larger business. The 1977 report named Walton chairman and CEO, Bud senior vice president, and Ferold Arend president and chief operating officer. It also described employee stock-purchase and profit-sharing programs.

New Store Formats and a Change in Leadership

Walmart’s expansion included new types of stores. The first Sam’s Club opened in Midwest City, Oklahoma, in 1983. The company introduced its private satellite communication system in 1987.

The 1987 Hypermart USA format proved unwieldy to operate. Walmart continued experimenting with store formats, and its first Supercenter opened in Washington, Missouri, in 1988, combining groceries and general merchandise.

Executive leadership changed that year as well. David Glass became CEO in 1988, while Walton remained chairman.

In 1991, Walmart began international expansion through a joint venture with Mexican retailer Cifra, opening a Sam’s Club in Mexico City. By the early 1990s, Walmart had become the largest retailer in the United States.

Wealth, Family Philanthropy, and Public Recognition

Forbes ranked Walton America’s richest man in 1985.

Sam and Helen established the Walton Family Foundation in 1987. The family foundation operates separately from Walmart and the Walmart Foundation, with its own funding and governance.

President George H. W. Bush presented Walton with the Presidential Medal of Freedom at Walmart headquarters in Bentonville on March 17, 1992.

Walton died in Little Rock on April 5, 1992, aged 74, after suffering from bone cancer. He was buried in Bentonville City Cemetery.

Discount Retailing and Its Wider Effects

Walton helped turn small-town discount retailing into a business supported by public capital, distribution facilities, technology, and professional management. Its expansion brought lower consumer prices alongside pressure on competing retailers.

The broader effects of Walmart’s expansion remained disputed after Walton’s death. A 2008 review by the Federal Reserve Bank of Minneapolis described disagreement among studies about jobs and wages. The debate over Walmart’s effects on workers and local businesses became part of the legacy of the chain he helped build.

Timeline

These milestones trace Walton’s life, the beginnings of Walmart, and changes in the company’s scale and leadership.

Timeline.

March 29, 1918

Samuel Moore Walton is born in Kingfisher, Oklahoma.

1940–1945

  • Graduates from the University of Missouri in 1940.
  • Marries Helen Robson in 1943.
  • Leaves military service and acquires a Newport Ben Franklin franchise in 1945.

1950

Opens Walton’s Five and Dime in Bentonville after his Newport lease is not renewed.

July 2, 1962

Sam and Bud Walton open the first Walmart in Rogers, Arkansas.

February 16, 1967

A federal court holds that three Walmart store corporations constitute one enterprise subject to federal minimum-wage requirements.

1969–1972

  • Walmart incorporates in 1969.
  • The company offers stock publicly in 1970.
  • Walmart lists on the New York Stock Exchange in 1972.

1974–1976

Walton relinquishes the chairmanship in 1974 and returns in 1976.

1983

The first Sam’s Club opens in Midwest City, Oklahoma.

1987–1988

  • Sam and Helen establish the Walton Family Foundation in 1987.
  • The first Walmart Supercenter opens in Washington, Missouri, in 1988.
  • David Glass becomes CEO in 1988; Walton remains chairman.

1991

Walmart expands into Mexico through a joint venture with Cifra.

March 17, 1992

President George H. W. Bush presents Walton with the Presidential Medal of Freedom in Bentonville.

April 5, 1992

Walton dies in Little Rock, Arkansas, aged 74.

FAQs

Question: Was Walmart Sam Walton’s first store?

Answer: No. Walton acquired a Ben Franklin franchise in Newport, Arkansas, in 1945 and opened Walton’s Five and Dime in Bentonville in 1950. The first Walmart opened in Rogers in 1962.

Question: Did Sam Walton build Walmart alone?

Answer: No. His brother Bud was Walmart’s cofounder and business partner. Walton’s father-in-law helped finance his earlier franchise entry, and professional managers later shared responsibility for running the chain.

Question: Are the Walton Family Foundation and Walmart Foundation the same organization?

Answer: No. The Walton Family Foundation, established by Sam and Helen in 1987, has separate funding and governance from Walmart and the Walmart Foundation.

Interviews

The 1992 Medal of Freedom Presentation

This transcript preserves President George H. W. Bush’s remarks when he presented Walton with the Presidential Medal of Freedom at Walmart headquarters. It offers a contemporary public assessment of Walton at the end of his life, with Bush as the speaker.

Read the presentation remarks

Further Reading

Sources