S. Robson Walton, known professionally as Rob Walton, is an American businessman and the eldest son of Sam Walton, the founder of Walmart. Rob Walton is a billionaire with a net worth of $68 billion. Rob Walton, in addition to being a Walton heir, was a key figure in the Walmart corporation, serving as Chairman from 1992 to 2015. This distinguishes him from his siblings and fellow heirs, as only a few of them have ever worked for Walmart. Rob was recently ranked among the world’s top 15 wealthiest persons.
Despite his enormous wealth, Rob Walton keeps a low profile and rarely conducts interviews. As a result, little is known about his personal life. In this way, many of the other Walton heirs are similar.
|Net Worth:||$68 Billion|
|Date of Birth:||Oct 28, 1944 (77 years old)|
|Nationality:||United States of America|
Robson, Samuel “Rob” Walton was born in Tulsa, Oklahoma on October 28th, 1944. He is Sam Walton’s eldest son and the company’s founder. Rob was reared with a number of other Walton heirs and heiresses, including siblings Jim, Alice, and John, the latter of whom died in 2005.
After developing a series of successful grocery businesses around the United States, Rob’s father launched Walmart. During the 1980s, Walmart grew enormously powerful, and Sam Walton was once considered the richest man on the planet. Since then, Walmart has expanded all over the world.
Rob Walton attended the University of Arkansas after graduating from high school. Walton obtained a bachelor of science in business administration after entering in 1966. He was also initiated into the Lambda Chi Alpha fraternity. Rob attended Columbia Law School after graduating from the University of Arkansas and received his Juris Doctor degree in 1969.
Rob Walton was offered the opportunity to work for Conner & Winters, a law firm that represented Walmart, after getting his law degree. Rob left Conner & Winters after several years of legal practice to join Walmart as a senior vice president.
He was named to the board of directors in 1982. Rob succeeded his father as chairman two days following his father’s death in 1992. Walton held this post until 2015 when he stepped down.
Rob divorced his first wife and remarried Carolyn Funk after having three children with her. Walton married his third wife Melani in 2005 after Funk and Walton split in 2000. Carrie Walton Penner is maybe his most famous child.
The Walton Family Foundation
According to a 2014 report, Rob Walton made no personal contributions to the Walton Family Foundation. The research was based on a thorough examination of the foundation’s tax returns over many years. This is crucial since Walmart frequently deflects criticism by emphasizing its charitable efforts.
Despite being one of the main benefactors of Walmart’s success, this study appeared to show that Rob is not actually donating to this foundation. However, according to some accounts, he and his siblings have pledged $2 billion to the organization.
Through the Walton Family Holdings Trust and Walton Enterprises, Rob Walton holds a 13% share in Wal-Mart. He also has a 25.5 percent ownership in Arkansas’ largest bank, Arvest Bank. The total value of this ownership position is $1.6 billion. Since 1992, Walton has made nearly $11 billion in stock sales and dividends. Walton Enterprises also benefits his siblings, Alice, and Jim Walton.
Rob Walton is known for keeping his personal life private and wants to avoid the spotlight. Rob is well-known for his collection of classic sports vehicles, however. Walton is said to own a Ferrari 250 GTO worth anywhere from $35 million to $52 million, according to estimates. He also owns a Shelby Cobra from 1965, which is worth roughly $820,000.
His Ferrari 250 LM is worth $14.6 million on the market, while his Ferrari 250 GT SWB is worth $4.1 million. We also know that Rob paid $12.1 million for a Ferrari 250 Testa Rossa in the past. On the open market, this model is currently worth around $40 million. A 1960 Maserati T60 and a 1958 Scarab MKI are two other remarkable additions to his collection.
Rob set a new world record for the highest price paid for a single car at an auction when he bought his Ferrari 250 Testa Rossa for $12.1 million. Unfortunately, he purchased it from a foreign country, which proved to be a problem.
Walton was expecting to be charged the standard 2.5 percent import fee by US Customs. Rob’s lawyers tried to get the automobile duty-free status by claiming it was a collector’s item. Rob’s valuable Testa Rossa, on the other hand, was designated a “regular” motor vehicle by US Customs, and he was forced to pay a $303,000 import fee.
In case you were wondering, $303,000 is around the same as a 2020 Ferrari 488 Pista. Rob Walton, on the other hand, is unlikely to be concerned about the import tariff because he earns that much from his Walmart dividends in less than an hour.
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