Mexico City /
Despite being part of one of the most important business dynasties in USA, Jim Walton, the youngest son of the founder of the retail chain Walmart, Sam Walton He decided to create his fortune in financial sector.
Since 1990 he has presided Arvest Bank Group, the oldest bank in Arkansas and which is recognized as another of the business of the Walton legacy.
​The magazine Forbes placed it as richest person in arkansas and 18th on the list of the wealthiest in the world because her net worth amounts to 102,600 million dollars.
This growth in fortune is largely due to the continued performance of Walmart, as well as his participation in Arvest Bank and others business in it financial world.
Who Jim Walton?
Jim Walton was born on June 7, 1948 in Newport, Arkansas, USAcurrently has 76 years old.
He studied marketing at University of Arkansas, but his story cannot be understood without the context of the empire his father built.
According to the official website of Walmart, Sam Walton built the first store of the multinational July 2, 1962 in Rogers, Arkansas.
With an innovative idea focused on operational efficiency, low prices and a focus on the customer, Walmart spread rapidly throughout USAuntil it became the largest retail chain in the world.
In 1970, Walmart became a listed company NYSE, which marked the beginning of an era of growth that consolidated the Walton family as one of the richest in the world.
His time at Walmart
According to data from the Walmart Museum, Jim Walton He joined the retail company as a real estate manager in 1971.
This occurred after obtaining a title of being responsible for the physical growth of the company until 1975 to become president of Walton Enterprises.
This is a company diversified family with interests in retail, agriculture and the charity programs, particularly in the area of education.
He was a member of the board of directors of Walmart until 2016, the same year in which he decided to give his position to his son, Steuart Walton
According to the most recent calculations, Jim has 11.5 percent of the company’s shares, what represents a part iimportant part of his fortune.
Arvest Bank: your empire
Despite his deep connection with Walmart, Jim Walton He focused much of his career on financial sector.
He is the president of Arvest Bank, one of the banking institutions oldest and largest Arkansas, with assets exceeding $26 billion, and owns 44 percent of the shares of the bank.
Investopedia says that the family Walton created Arvest by purchasing the bank of Bentonville In 1961, the Bank of Pea Ridge in 1963 and the First National Bank & Trust Company in 1975.
Arvest expanded in 2013 with the purchase of 29 branches that were from Bank of America and current value of Arvest Bank is estimated at 1.8 billion dollars.
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