Rob Walton Biography & Net Worth

Rob Walton Biography & Net Worth

American businessman and Son of Walmart founder Sam Walton, Rob Walton, was chairman of the board of directors at Walmart from 1992 to 2015. He joined Walmart in 1969 and remained at the company for many years until his retirement. Prior to becoming chairman, Rob held a variety of positions within the company, including vice chairman, general counsel, senior vice president, and corporate secretary. Before joining Walmart, he spent some time working as a partner of the Oklahoma-based law firm of Conner & Winters.

Now retired from active duty, Rob Walton is currently involved with several nonprofit and educational organizations, including the College of Wooster, where he’s an Emeritus Life Trustee, and Conservation International, where he serves as the executive committee’s chairman.

An American billionaire inheritor of the fortune of the world’s largest retailer, Walmart, Rob Walton’s net makes it possible for him to currently rank as the 15^th wealthiest person alive. We will continue the remainder of this publication with the full details of his life, works, and accomplishments. Read on for more.

Early Life: Childhood, Family, Education

Born as Samuel Robson Walton in Tulsa, Oklahoma, the United States on October 28, 1944, Rob is the child of Walmart co-founder Sam Walton (1918–1992) and his wife Helen Walton (1919–2007). He has three siblings, including a younger sister Alice, a younger brother, Jim, and another brother, John, who sadly passed away in 2005.

Rob Walton studied at The College of Wooster and later attended the University of Arkansas from which he graduated in 1966 with a bachelor’s degree in business administration. In 1969, he earned a Juris Doctor degree from Columbia Law School.

Professional Life: Legal Practice, Business Career

After obtaining his law degree from Columbia Law School, Rob Walton was given a slot at Connor & Winters, a law firm in Tulsa, Oklahoma that represented Walmart.

After working at the law firm and doing legal work for several years, Rob left the firm and joined his father’s company, Walmart, where he was appointed as the company’s senior vice president.

In 1982, Rob was appointed to the company’s board of directors. His father who cofounded Walmart, Sam Walton, died in 1992, and two days afterward, Rob took his place as the company’s chairman and kept this position until his resignation in 2015.

Along with his siblings, Rob has pledged the sum of $2 billion to the Walton Family Foundation, a nonprofit organization that was instituted by his father to lend helping hands to the less privileged in the society.

Personal Life: Wife, Children, Private Interests

By the time he left his hometown of Tulsa in 1978, Rob Walton had divorced his first wife and had fathered three children. He had also remarried Carolyn Funk at that time.

Rob and his second wife Carolyn filed for divorce in 2000, and in 2005, he got married to his third wife Melani Lowman-Walton. He is the father of Carrie Walton Penner.

Mr. Walton is a trustee at The College of Wooster. He is also a well-known collector of automobiles.

Rob Walton Net Worth: Salary, Income Sources, Assets, Car Collection

Rob Walton’s net worth of $60 billion has mainly been earned from his family’s business Walmart, where he is not only an heir but has equally played a pivotal role in the company’s operation by occupying different positions at various stages of his career. He has served the company diligently as vice chairman, general counsel, senior vice president, and corporate secretary. His roles at Walmart set him apart from other family members and heirs, as only a few of them have participated in the business of Walmart.

In recent years, Rob Walton has been one of the world’s richest individuals. He is said to own a 13 percent stake in Walmart and a 25.5 percent stake in Arvest Bank, known to be the largest bank in Arkansas. This ownership stake is valued at about $1.6 billion at this present time. He has earned $7 billion worth of dividends and stock sales since 1992. In a 2017 report, it was revealed that Rob had sold $62 million in Walmart shares. This came after the company’s stock had dropped by 2.1 percent. Despite this massive selloff, Rob has more than 106 million shares remaining in the company, with an estimated value of about $8.4 billion. When you put all this into consideration, $62 million doesn’t amount to a lot in Rob Walton’s eyes.

As initially maintained, Rob is a car lover and avid collector. Even as he is famously tight-lipped on anything concerning his private life and prefers to stay away from public notice, he is widely known in the media for his extensive collection of vintage sports cars. According to reports, Mr. Rob Walton owns a $40 million Ferrari 250 GTO, and also a 1965 Shelby Cobra, which is valued at around $820,000. His Ferrari 250 GT SWB is valued at $4.1 million while his Ferrari 250 LM has a worth of $14.6 million. Furthermore, he owns a $40 million worth Ferrari 250 Testa Rossa, in addition to his 1958 Scarab MKI, and 1960 Maserati T60.