James Carr Walton, who was born on June 7, 1948, in Newport, Arkansas, is known for being rich, smart in business, and generous. Jim Walton, the youngest son of Walmart founder Sam Walton, has been a key figure in keeping his family’s retail empire going and growing. He has also built his own legacy in banking and community development. Forbes says that Walton is the 12th richest person in the world, with a net worth of $118.9 billion as of February 2025. This shows how well he has managed the Walton family fortune.
Childhood and School
Jim Walton grew up in Bentonville, Arkansas, where he was surrounded by stores from a young age. Jim was the third of four children born to Sam Walton (1918–1992) and Helen Walton (1919–2007). He grew up with his siblings Rob, Alice, and John Walton in a family that valued hard work and entrepreneurship. Jim did well in school and sports at Bentonville High School, where he graduated in 1965. He was president of the junior class, played football at the all-state level, and even got his pilot’s license, which showed how adventurous he was.
Walton went to college after high school and got a Bachelor’s degree in Business Administration with a focus on Marketing from the University of Arkansas in 1971. He was a member of the Lambda Chi Alpha fraternity while he was in college. He was able to balance his studies with a busy social life. After he graduated, Jim traveled for a short time before coming back to Arkansas to work in the family business.
From Walmart to Arvest Bank, my job has changed.
Jim Walton started working for Walmart, the huge store chain his father, Sam, and uncle, Bud Walton, started in 1962. He joined the company in 1972. At first, Jim worked on the company’s real estate business, using his marketing skills to find and secure places for new stores. His work in real estate helped Walmart grow quickly, and it would eventually become the biggest store in the world.
Jim moved to Walton Enterprises, the family’s private investment firm, in 1975. He was the president there. As part of this job, he was in charge of the Walton family’s growing portfolio, which included their large stake in Walmart. Jim and his siblings own about 45% of Walmart’s stock, which is the main source of their wealth.
Jim went to Arvest Bank, a regional bank owned by the Walton family, because he was interested in finance. He was CEO before becoming chairman. Under his leadership, Arvest grew into a huge bank with more than 260 branches in Arkansas, Missouri, and Oklahoma and assets worth more than $26 billion as of 2022. Jim used the same customer-focused ideas that helped Walmart become successful to turn Arvest into Arkansas’s biggest bank by deposits and a major player in the regional banking sector.
Jim took over for his brother John on Walmart’s Board of Directors after John died in a plane crash in 2005. He served on the Strategic Planning and Finance committees until 2016. He helped Walmart through a time of big changes, like when it started selling things online and opened stores around the world. His son, Steuart Walton, took over as head of the board. This was the first time a Walton from the third generation took on a leadership role at the company.
Jim was also the chairman of Community Publishers Inc. (CPI), a newspaper company that his father started after buying the Benton County Daily Record. Berkshire Hathaway bought CPI in 2015. The company worked in Arkansas, Missouri, and Oklahoma. This added to the Walton family’s investments.
The Walton Family Foundation and charity work
Jim Walton is a dedicated philanthropist who gives a lot of his money to the Walton Family Foundation. He and his siblings promised about $2 billion to the foundation between 2008 and 2013. The foundation works to improve education, protect the environment, and build up communities in Northwest Arkansas and the Arkansas-Mississippi Delta. The foundation gave out $749.5 million in grants in 2020 alone.
Jim and his sister Alice have been very important to programs like the Charter Impact Fund, which gives high-performing charter schools in the US long-term, fixed-rate loans. The foundation’s main goals are to make K–12 education better, protect rivers and oceans, and encourage long-term growth in communities. Alice A. “Annie” Proietti, Jim’s daughter, is in charge of the foundation, which had $5.7 billion in assets in 2022. This means that the Walton family’s charitable legacy will continue to grow.
His personal life and legacy
Jim Walton is married to Lynne McNabb Walton. They have four kids: Alice A. “Annie” Proietti (born November 1979), Steuart Walton (born April 1981), Thomas Layton “Tom” Walton (born September 1983), and James M. Walton (born August 1987). Jim lives in Bentonville, Arkansas, with his family. He doesn’t like being in the media spotlight, even though he is very rich.
Jim is known for living simply. He owns two homes: one in Bentonville that cost $3.9 million and another in Paradise Valley, Arizona. He doesn’t show off his wealth like a lot of billionaires do. Instead, he focuses on family, business, and giving back.
Jim has mostly stayed out of political controversies, but some reports say he supports politicians with controversial views, even though he doesn’t get involved in politics directly. His main goal is still to keep the Walton family’s power in retail, banking, and charity while also raising the next generation of leaders, as shown by his son Steuart’s job at Walmart.
Value and effect on the world
Jim Walton’s net worth is $118.9 billion as of February 2025. This is mostly because he owns 11.5% of Walmart and 44% of Arvest Bank, which is worth about $2.1 billion. His wealth has grown a lot because of Walmart’s strong market performance and his smart investments. He gave $2.6 billion worth of Walmart shares to different charities in 2019, which showed how much he wanted to help others.
Jim Walton’s power goes beyond his own money. Forbes named the Walton family the richest family in the world in 2021, with a total net worth of $238 billion. He is a key member of the family and has helped Walmart stay the world’s largest retailer, with more than 2.2 million employees around the world. His work as a leader at Arvest Bank and his work with the Walton Family Foundation have had a lasting effect on both the financial industry and communities all over the United States.
Final Thoughts
Jim Walton’s story is one of quiet strength and a clear plan. He has always lived by the values his parents taught him: hard work, creativity, and a dedication to helping others. This has been true from his early days in Bentonville to his current role as a billionaire philanthropist. He may not like being in the public eye, but his work for Walmart, Arvest Bank, and the Walton Family Foundation speaks for itself. It will keep the Walton legacy alive for many generations to come.
