Samuel Robson “Rob” Walton (born 1944) is an American businessman and heir to an American company that operates the world’s largest wholesale and retail chain, Walmart. He served as Chairman of Walmart from 1992-2015. As of September 2020, his fortune was estimated at $ 68.1 billion – 14th in the ranking of the richest people in the world according to Forbes magazine.
There are many interesting facts in the biography of Rob Walton, which we will talk about in this article.
So, here is a short biography of Samuel Robson Walton.
Rob Walton biography
Rob Walton was born on October 28, 1944, in the US state of Oklahoma. He was raised by Walmart founder Sam Walton and his wife, Helen. In addition to Rob, his parents had a daughter, Alice, and sons, Jim and John.
After graduating from the College of Worcester, Rob attended the University of Arkansas, graduating in 1966. He then continued his education at Columbia University Law School. As a result, in 1969 he was awarded the degree of Doctor of Jurisprudence.
Business
As a graduate, Rob Walton began working for his father’s corporation. He was part of the legal department that defended the interests of Walmart and Conner & Winters. He later became vice president of Walmart, and in 1984 he became vice-chairman of the corporation.
When Walton Sr. passed away in April 1992, Rob was elected Chairman of the Board of Directors. This happened already on the third day after the death of the founder of “Walmart”. At the same time, his brothers and sister begin to participate in the management of the company.
It is worth noting that Rob Walton tried not to deviate from his father’s strategy, fulfilling all his behests. In particular, the family’s chain of stores had to continue to trade in food and industrial products, striving to get closer to wholesale prices.
At the same time, the main focus was on building supermarkets in residential areas, rather than in central regions. It is curious that when Rob began to lead the corporation, he managed to increase its profits. Today, over 2 million people work in tens of thousands of Walmart stores.
In 2009, the company brought the Walton family more than $ 14 billion in profit. At this period of his biography, Rob was in the TOP-20 of the richest people on the planet, with a capital of $ 23 billion. In 2015, he announced his resignation as president of the company, after which his son-in-law Greg Penner took over this post.
Rob Walton’s Commandments
Together with his father, Rob developed interesting rules for a successful business, which consist of the following postulates:
- love business;
- control expenses;
- Share the profit with employees;
- motivate staff;
- solve problems and discuss goals with employees;
- anticipate consumer expectations;
- go with the flow.
Many entrepreneurs have commented on the effectiveness of the Waltons’ “commandments” in helping them improve their businesses.
Personal life
Over the years of his biography, Rob Walton was married three times. He currently has three children who also hold prominent positions in the family business. He is now married to Melanie Lowman-Walton, with whom he legalized a relationship in 2005.
Rob is a renowned car collector. Together with his close relatives, he promised to donate about $ 2 billion, which will go to various charity and social projects.
Rob Walton today
Now Walton continues to be interested in the development of the family business, giving effective advice to his children. At the same time, he monitors the world’s leading technology.
