S. Rob Walton Biography
Samuel Robert Walton was born on 28 October 1944 in Tulsa, Oklahoma USA. As Rob Walton, he is best known as the chairman of Wal-Mart, the eldest of three surviving siblings – with Alice and Jim – to parents Sam and Helen Walton, the former being the founder of Wal-Mart, and who together with Christy Walton, widow of brother John, control over 50% of Wal-Mart shares. Ron Walton is listed by Forbes magazine as the 12th richest person in the world in 2015.
S. Rob Walton Net Worth $40 Billion
So just how rich is Rob Walton? Forbes estimates that Rob’s current net worth is almost $40 billion, the majority of his wealth having been accumulated through the constant rise of his financial interest in Wal-Mart. As chairman of Wal-Mart, his actual salary is reputed to be $250,000.
Rob Walton attended The College of Wooster – of which he is now a trustee – and graduated from the University of Arkansas in 1966 with a BSc in business administration; he was also a member of the Lambda Chi Alpha fraternity. Rob then obtained his Doctor in Jurisprudence degree in 1969 from the Columbia University School of Law. His first job was with law firm Conner & Winters in Tulsa, which represented Wal-Mart.
In 1978 Rob Walton joined Wal-Mart as a senior vice president, and in 1982 he was appointed vice chairman. Rob was named chairman of the board of directors on 7 April 1992, two days after his father’s death, and has remained in charge to the present day.
Since its foundation in 1962, Wal-Mart has grown into the world’s largest retailer with 11,000 stores and $473 billion in revenue in 2014, employing over 110,000 in more than 60 countries, 60,000 in the USA alone.
Outside of Wal-Mart, the Walton’s venture capital firm, Madrone Capital Partners of which Rob is of course a member, owns a stake in Hyatt Hotels worth an estimated $1 billion.
Needless to say, all of the above activities of the Walton family group have contributed enormous amounts to Rob Walton’s net worth, and continue to do so.
As with most billionaires, wealth brings an ability and willingness to indulge in philanthropy. Along with his siblings, Rob Walton has pledged over $2 billion to the Walton Family Foundation from 2008 to 2014. Additionally, Rob has made significant donations to the federal Republican Party over the last 15 years.
In his private life, Rob Walton had three children his first wife, Melani Lowman; they divorced in 1976. He then married Carolyn Funk in 1978, and they divorced in 2000.
Walton has been known to fly a Falcon jet that he pilots himself. He also races vintage sports cars. As of 2004, he owned a 1970 Lotus, a Cobra, and a Scarab, and, along with one of his sons, participated in the Monterey Historic Automobile Races. Walton reportedly commissioned a custom gold Ferrari in 2009. In 2012 he reportedly wrecked his Shelby Daytona Cobra Coupe — one of only five made and worth at least $15 million — when he drove it off a racing track.