Person

Lukas Walton

Net Worth:

$16.3 billion

Family:

Grandfather: Sam Walton, the founder of Walmart

Father: John T. Walton

Mother: Christy Walton

Born:

1986

Lukas Walton is the grandson of Sam Walton, founder of Walmart. As of February 2022, Forbes ranks Walton as the 41st wealthiest living person. [1]

Walton serves on the board of several nonprofit organizations created by the Walton family and has started several nonprofit organizations of his own, as well as several businesses. Walton has stated his primary goal in his philanthropic and business activities is to advance environmentalist initiatives among other left-of-center social causes. [2]

Background

Born in 1986, Lukas Walton is the grandson of Sam Walton, founder of Walmart. Lukas Walton’s father, John Walton, died in a plane crash in 2005 when Lukas was 19 years old. He then inherited one-third of his father’s estate. As of February 2022, Walton is estimated to have a net worth of $16.3 billion. [3]

Walton has founded and invested in several businesses that create technology and implement strategies aimed at achieving environmentalist goals. [4] He also has founded several nonprofit organizations that make grants and investments in environmental organizations. Walton studied environmental science and economics at Colorado College and has stated that the most effective way to achieve environmentalist goals is by funding for-profit solutions to allow markets to implement environmentally friendly practices, replacing existing methods of energy creation, waste management, recycling, and agriculture. [5]

Philanthropy

Walton Family Foundation

The Walton Family Foundation is the primary charitable outlet for the Walton family, heirs of the Walmart fortune. As of September 2021, the Walton family was reported to have a combined net worth of $238 billion, making it the richest family in the world. [6]  Lukas Walton donated more than $149 million of his own share of the inheritance to the foundation and chairs the foundation’s environment program committee. [7]

Builders Initiative

Walton cofounded Builders Initiative alongside other Walton family members in 2017 and works as its copresident. [8] Builders Initiative is a venture capital firm, with an associated 501(c)(3) nonprofit organization, that invests in and provides grants to environmentalist energy businesses. [9] According to its 2019 tax returns, Walton was its sole contributor, giving over $28.5 million. [10] It also reported having $217 million in noncharitable assets and $484 million in net assets. [11] [12]

Walton Conservation Coalition

Alongside his family members, Walton cofounded the Walton Conservation Coalition in 2017, where he serves as the board chair. The Walton Conservation Coalition is a lobbying and electoral advocacy organization that advocates for environmentalist policy. [13] According to the organization’s 2019 tax return, it paid $280,000 in management fees to Walton Enterprises LLC, $203,000 in compensation to its Environmental Advocacy Director, and had $623,000 in total expenses. [14] [15] [16]

Political Activity

Between 2018 and 2021, Lukas Walton donated more than $407,000 to Democratic Party candidates and the Democratic National Committee. In the same time frame, he donated $11,000 to Republican candidates. [17]

References

  1. “Lukas Walton.” Forbes. Accessed February 7, 2022. https://www.forbes.com/profile/lukas-walton/?sh=4613ec3e1d5d. ^
  2. McKay, Serenah. “Lukas Walton Starts Builders Vision to Fund Businesses Tackling Environmental, Social Challenges.” Arkansas Online. November 7, 2021. https://www.arkansasonline.com/news/2021/nov/07/walton-venture-puts-capital-in-change/. ^
  3. “Lukas Walton.” Forbes. Accessed February 7, 2022. https://www.forbes.com/profile/lukas-walton/?sh=4613ec3e1d5d. ^
  4. “Walmart Heir Lukas Walton Joins Fund to Eradicate Waste.” Crain’s Chicago Business. December 7, 2021. https://www.chicagobusiness.com/nonprofits-philanthropy/walmart-heir-lukas-walton-joins-family-offices-fund-eradicate-waste. ^
  5. McKay, Serenah. “Lukas Walton Starts Builders Vision to Fund Businesses Tackling Environmental, Social Challenges.” Arkansas Online. November 7, 2021. https://www.arkansasonline.com/news/2021/nov/07/walton-venture-puts-capital-in-change/. ^
  6. Weiss, Miles, and Devon Pendletom. “World’s Richest Family Reveals $5 Billion Worth of Stock Picks.” Bloomberg.com. September 28, 2021. https://www.bloomberg.com/news/articles/2021-09-28/walmart-walton-family-world-s-richest-reveals-stock-picks-worth-5-billion-ku43my3e. ^
  7. “Lukas Walton.” Forbes. Accessed February 7, 2022. https://www.forbes.com/profile/lukas-walton/?sh=4613ec3e1d5d. ^
  8. Builders Initiative, Return of Organization Exempt from Income Tax (Form 990), 2019. ^
  9. McKay, Serenah. “Lukas Walton Starts Builders Vision to Fund Businesses Tackling Environmental, Social Challenges.” Arkansas Online. November 7, 2021. https://www.arkansasonline.com/news/2021/nov/07/walton-venture-puts-capital-in-change/. ^
  10. Builders Initiative, Return of Organization Exempt from Income Tax (Form 990), 2019. ^
  11. Builders Initiative, Return of Organization Exempt from Income Tax (Form 990), 2019. ^
  12. Builders Initiative, Return of Organization Exempt from Income Tax (Form 990), 2019. ^
  13. McKay, Serenah. “Lukas Walton Starts Builders Vision to Fund Businesses Tackling Environmental, Social Challenges.” Arkansas Online. November 7, 2021. https://www.arkansasonline.com/news/2021/nov/07/walton-venture-puts-capital-in-change/. ^
  14. [1] Walton Conservation Coalition, Return of Organization Exempt from Income Tax (Form 990), 2019. ^
  15. Walton Conservation Coalition, Return of Organization Exempt from Income Tax (Form 990), 2019. ^
  16. Walton Conservation Coalition, Return of Organization Exempt from Income Tax (Form 990), 2019. ^
  17. “Donor Lookup.” OpenSecrets. Accessed February 7, 2022. https://www.opensecrets.org/donor-lookup/results?name=lukas%2Bwalton. ^
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