3 Money-Making Lessons You Can Learn from Walmart Heir Rob Walton
Written by
Adam Palasciano
Edited by
Zuri Anderson
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
There are a lot of rich people in the world, and the legacy of some of these individuals stems from their family business. One perfect example is Walmart heir Rob Walton.
According to Forbes, Walton is the eldest son of Walmart founder Sam Walton and has a real-time net worth of $115.4 billion as of May 19. His net worth has landed him a spot on the Forbes World Billionaire List, coming in as the eleventh richest person in the world.
Quartr explained that Walton began his journey at Walmart as a board member in 1978. His role ultimately culminated in him being named Chairman from 1992 to 2015. He has been an integral part of the commerce giant’s success.
While you may not become a billionaire like Walton, there are several money-making lessons you can learn from his career so you can become wealthier.
Diversify Your Investments
Besides his stake in Walmart, Walton is a believer in investment diversification.
For example, Wealth Advisor reported that Walton purchased the NFL team Denver Broncos, in 2022 for $4.65 billion, which was a historic purchase in the sports franchise industry. He sees the value of investing in highly visible, legacy assets and understands that diversification can effectively mitigate financial risk.
Take Advantage of Family Assets and Inheritance
Not all of us are lucky enough to be born into a family business empire. Walton’s situation is surely exceptional. However, taking full advantage of any family assets or inheritance that comes your way is smart.
Whether it’s getting involved in an existing family business or coming into a windfall of assets after the passing of a loved one, seizing the opportunity to contribute to the business’s success or to make strategic investments with inherited assets can help grow your net worth.
Be Innovative
The USA Leaders indicated that Walton’s determination and commitment to Walmart’s mission helped grow the company to new heights. Through innovations like adopting new technologies, optimizing the company’s supply chain, creating sustainability initiatives, and focusing on customer satisfaction, Walmart has experienced great success.
Under Walton’s strong leadership, he guided his family’s business through periods of expansion, and the numbers show it. Under Walton’s leadership, Walmart’s annual revenue exploded from nearly $44 billion to $482 billion and became one of the biggest U.S. retailers. As of January 2024, Walmart reported sales of $648.1 billion, as per Reuters.
Find ways to be innovative in your own life and business pursuits. It might just get you one step closer to your financial goals.
More From GOBankingRates
Sources
- Forbes, “Rob Walton & Family.”
- Quartr, “Rob Walton: Career, Net Worth, and Contributions at Walmart.”
- Wealth Advisor, “The Story Behind The Walton Family Heirs.”
- The USA Leaders, “How Did Rob Walton’s Net Worth Reach $93.3 Billion?“
- Reuters, “Walmart’s longest-serving director Rob Walton to retire from board.”
