Person

James Carr Walton

Nationality:

American

Born:

1948

Location:

Newport, AK

Occupation:

Philanthropist and Executive

James (Jim) Carr Walton is the youngest son of Sam Walton, the founder of Walmart, and his wife Helen Walton. He is president of Walton Enterprises, the family organization that holds much of the Walton family wealth; the CEO of Walton family-controlled Arvest Bank; and was co-founder and CEO of Community Publishers Inc., which was previously owned by the Walton family. [1]

Walton has a special interest in improving education through charter schools and researching techniques to improve results, largely through the Town Branch Foundation (TBF), founded and led by him and his wife Lynne McNabb Walton. [2] Along with his sister Alice Walton, James Walton has helped guide the Walton Family Foundation’s investments in charter schools and other educational alternatives. [3]

He has been attacked for his contributions to the Republican Party and Republican candidates, even though Walton family political contributions are typically balanced between the two major political parties. [4]

Background

James Walton is the third child of Walmart founder Sam Walton and his wife Helen Walton. He was born, raised, and attended school in Bentonville, Arkansas and is a graduate of the University of Arkansas in Fayetteville. [5]

James Walton, his brother Rob, sister Alice, and his brother John’s estate control about 50 per cent of Walmart, Inc., and 96 percent of Arvest Bank. [6]

James Walton has an estimated net worth of $64.3 billion, making him number 11 on the Forbes list of wealthiest Americans. When combined with the net worth of the rest of the Walton family, they are the wealthiest family in the world. [7]

Career

James Walton joined Walmart in 1972 in the real estate division, was president of Walton Enterprises in the mid-1970s, and then was CEO and later chairman of Arvest Bank. [8]

Walton joined the Walmart board upon the death of his brother John but has since stepped down. He was co-founder and was chairman of Community Publishers, Inc., which published newspapers in Arkansas, Missouri, and Oklahoma, prior to its sale in 2015. [9]

Philanthropy

James Walton has pledged $2 billion to the Walton Family Foundation, a Walton family-controlled grantmaking organization that promotes improved K-12 education, river and ocean protection, and supports Northwest Arkansas communities. He has pledged a further $1.2 billion to an unnamed charity. [10]

Walton and his wife Lynne McNabb Walton are co-founders and co-presidents of the Town Branch Foundation, which makes grants to organizations helping poor children, think tanks like the Heritage Foundation that conduct education research, and private schools and universities. In 2019, TBF received a $21,077,911 contribution from the Rock House Charitable Trust. [11] [12]

Political Activity

Jim Walton has been attacked for his political contributions to Republican and Republican-affiliated PACs and for his support of initiatives and groups who support the improvement of education standards and charter schools. [13]

References

  1. “Jim Walton.” Baron Magazine. October 1, 2018. https://baron-magazine.com/2018/09/11/jim-walton/. ^
  2. Town Branch Foundation, Return of Private Foundation, (Form 990-PF), 2019, Part VIII, Line 1. ^
  3. [1] Sullivan, Maureen. “Why Is the Walton Family Foundation Putting Another $250 Million into Charter Schools?” Forbes. June 30, 2016. https://www.forbes.com/sites/maureensullivan/2016/06/30/why-is-the-walton-family-foundation-putting-another-250-million-into-charter-schools/?sh=78006ae75c0c. ^
  4. “Jim C. Walton.” Making Change at Walmart. Accessed March 20, 2022. https://web.archive.org/web/20210929112204/http://changewalmart.org/family-tree/jim-walton/. ^
  5. Allan, Sonia. “Walton Family Net Worth 2022: Is It the Worlds Richest Family?” AffiliateBay. March 13, 2022. https://www.affiliatebay.net/walton-family-net-worth/. ^
  6. Allan, Sonia. “Walton Family Net Worth 2022: Is It the Worlds Richest Family?” AffiliateBay. March 13, 2022. https://www.affiliatebay.net/walton-family-net-worth/. ^
  7. Allan, Sonia. “Walton Family Net Worth 2022: Is It the Worlds Richest Family?” AffiliateBay. March 13, 2022. https://www.affiliatebay.net/walton-family-net-worth/. ^
  8. “Arvest Bank Group, Inc.. Company Profile: Lowell, AR: Competitors, Financials & Contacts – Dun & Bradstreet.” Dun & Bradstreet – Accelerate Growth and Improve Business Performance. Accessed March 20, 2022. https://www.dnb.com/business-directory/company-profiles.arvest_bank_group_inc.0d690722b4418d5c5e34e71668dfc100.html. ^
  9. Gatling, Paul. “Community Publishers of Bentonville Sells Arkansas, Missouri Newspapers.” Talk Business & Politics. March 16, 2015. https://talkbusiness.net/2015/03/community-publishers-of-bentonville-sells-arkansas-missouri-newspapers/. ^
  10. Lam, Katherine. “Walmart Heir Jim Walton Donates $1.2B of His Fortune, Report Says.” Fox Business. July 2, 2019. https://www.foxbusiness.com/business-leaders/walmart-jim-walton-donates-billion-fortune. ^
  11. “The Giving of America’s Richest Family Can Be Hard to Track. Here Are 12 Foundations of Walton Heirs.” American Nonprofit Academy. October 13, 2021. https://americannonprofitacademy.com/nonprofit-news/foundations-of-walton-heirs/. ^
  12. Town Branch Foundation, Return of Private Foundation, (Form 990-PF), 2019, Part VIII, Line 1. ^
  13. “Jim C. Walton.” Making Change at Walmart. Accessed March 20, 2022. https://web.archive.org/web/20210929112204/http://changewalmart.org/family-tree/jim-walton/. ^
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