Walmart is a global American retail company with headquarters in Bentonville, Arkansas, that runs a chain of hypermarkets (also known as supercenters), discount department stores, and grocery shops domestically.
Walmart has 10,585 stores and clubs as of July 31, 2022, operating in 24 countries under 46 distinct names. According to the Fortune Global 500 list from May 2022, Walmart is the largest corporation in the world by revenue, with over US$570 billion in yearly sales.
Who Owns Walmart?
Walmart is currently majority owned by the Walton family. The Walton family mainly consists of children of Walmart’s founder Sam Walton.
Jim Walton, Rob Walton & Alice Walton are current living children of Sam Walton. Sam’s fourth son, John T. Walton passed away in 2005 in an aviation accident, his son and wife currently own his share in Walmart.
Who founded Walmart?
Sam Walton launched the first Wal-Mart Discount City location in Rogers, Arkansas, at 719 W. Walnut Street on July 2, 1962.
On October 31, 1969, Wal-Mart, Inc. was formed, and in 1970 it changed its name to Wal-Mart Stores, Inc. In the same year, the business established its first distribution hub and main office in Bentonville, Arkansas.
By 1990, Walmart became the largest U.S. retailer by revenue.