There is one family that has three separate family members individually listed as one of the 12 richest people in the United States.
Time for a thread 👇🏽👇🏽👇🏽
Time for a thread 👇🏽👇🏽👇🏽
1) Meet Sam Walton.
He is the founder of Walmart. His children and heirs collectively have become the richest family in the United States and the richest non-royal family in the world.
He is the founder of Walmart. His children and heirs collectively have become the richest family in the United States and the richest non-royal family in the world.
2) Sam Walton founded Walmart in 1962 at the age of 44.
He previously had served in the US Army, worked in retail stores, and run his own variety dime store.
Only after all this experience did Sam see the opportunity to undercut his competitors w/ lower prices & better service.
He previously had served in the US Army, worked in retail stores, and run his own variety dime store.
Only after all this experience did Sam see the opportunity to undercut his competitors w/ lower prices & better service.
3) Walmart's initial value proposition was presented under the idea of a crusade for the consumer.
Lower prices and better service. Nothing else.
What started as a single store in Arkansas, quickly grew into 24 stores in 5 years and more than $12 million in revenue.
Lower prices and better service. Nothing else.
What started as a single store in Arkansas, quickly grew into 24 stores in 5 years and more than $12 million in revenue.
4) The secret to the early success was that Sam Walton was able to find lower-cost suppliers than his competitors.
By finding a way to be slightly profitable at lower prices, Walton was able to focus on driving high volume to make up for the loss in margin.
By finding a way to be slightly profitable at lower prices, Walton was able to focus on driving high volume to make up for the loss in margin.
5) Walmart's strategy paid off quickly.
The company went public in 1970, which was only 8 years after it had been founded.
They had 38 stores, more than 1,500 employee, and $44 million in revenue.
The company went public in 1970, which was only 8 years after it had been founded.
They had 38 stores, more than 1,500 employee, and $44 million in revenue.
6) Sam Walton not only identified a disruptive business model, but he also continued to scale aggressively.
By the company's 25th anniversary in 1987, Walmart had 1,198 stores, 200,000 employees, and over $15 billion in revenue.
Impressive growth even by today's standards.
By the company's 25th anniversary in 1987, Walmart had 1,198 stores, 200,000 employees, and over $15 billion in revenue.
Impressive growth even by today's standards.
7) Today Walmart is the world's largest company by revenue and the largest private employer globally.
It generates more than $514 billion in revenue annually and it employs more than 2.2 million employees.
It generates more than $514 billion in revenue annually and it employs more than 2.2 million employees.
8) Sam Walton had 10 rules for building a business.
They are simple to talk about, but hard to execute consistently.
They are simple to talk about, but hard to execute consistently.
9) The Walmart business is truly global after more than 50 years in business.
They own and operate Sam's Club, Walmart Supercenters, and various joint ventures throughout South America, Africa, and Asia.
Through it all, the Walton family retained 50%+ ownership until 2018.
They own and operate Sam's Club, Walmart Supercenters, and various joint ventures throughout South America, Africa, and Asia.
Through it all, the Walton family retained 50%+ ownership until 2018.
10) The Forbes 400 lists three separate Waltons in the top 12 richest people in the US.
#10: Jim Walton — $51.6 billion
#11: Alice Walton — $51.4 billion
#12: Rob Walton — $51.3 billion
If the wealth was combined, that person would easily top the list as the wealthiest in US.
#10: Jim Walton — $51.6 billion
#11: Alice Walton — $51.4 billion
#12: Rob Walton — $51.3 billion
If the wealth was combined, that person would easily top the list as the wealthiest in US.
12) So often we hear stories about business success being reserved for young people, but Sam Walton is a reminder that sometimes experience matters.
He didn't start the world's largest company until he was 44 years old.
It is one of the greatest wealth creation stories ever.
He didn't start the world's largest company until he was 44 years old.
It is one of the greatest wealth creation stories ever.
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