Two hundred forty million customers visit Walmart stores every week, making it the world's biggest retailer with revenue exceeding $559 billion.
Walmart's tremendous success made the Walton family the wealthiest family in the world. Today, I will talk about the richest woman in the family who lives in Fort Worth, Texas.
Her name is Alice Louise Walton. Her net worth exceeds $67.9 billion, making her the 12th richest person in the country.
Who is Alice Louise Walton?
Alice Louise Walton is an American heiress to the fortune of Walmart.
She was born October 7, 1949, in Newport, Arkansas. She is the youngest daughter of Sam Walton, founder of Walmart. She has three brothers, Robson, John, and Jim.
She earned her Bachelor's degree from Trinity University in San Antonio, Texas. After graduating college, she worked for First Commerce Corporation, Arvest Bank Group, and EF Hutton. This experience helped her establish Llama Company, an investment bank named after her pet.
Llama Company closed down in 1998, and Alice Walton moved to Millsap, Texas, 45 miles west of Fort Worth. In 2015, she moved to Fort Worth to focus on her art collection.
She's an art curator and founder of Crystal Bridge Museum.
Alice Walton loves art and invests a tremendous amount of her wealth in supporting art and artists. In 2011, she founded the Crystal Bridges Museum of American Art in Bentonville, Arkansas. The museum's mission is to celebrate the power of art and the beauty of nature. The museum welcomes everyone with free admission.
She wants healthcare to be accessible to everyone.
Besides her focus on access to the arts, Alice recently invested some of her money to create Whole Health Institute and develop the Whole Health School of Medicine and Health Sciences with a mission to make health services available to all people in all communities.
Like all families, the Waltons appear to have diverse political opinions. Some, like Jim Walton, look to be staunchly conservative. However, new data indicates some Walton giving leans to left.
For example, in 2016, Federal Election Commission filings showed that Alice Walton gave $353,400 to the Hillary Victory Fund.
The story behind the brand
In 1962, Sam Walton opened his first Walmart in Rogers, Arkansas, and since the first day, he has been committed to making his customers' lives easier.
Over the coming few years, Walton grew the company exponentially, and in 1970, Walmart became a publicly-traded company. Ten years later, the first Sam's Club opened its doors.
Walmart became the biggest retailer in the world.
At Sam Walton's death in 1992, Walmart employed 371,000 associates in 1,928 stores and clubs.
Today, Walmart operates about 10,500 retail stores in 24 countries and eCommerce websites. The company employs roughly 2.2 million associates worldwide.