Walmart: History, Age, Relationship, Net Worth, Branches

Walmart: Introduction

Walmart, an American retail giant founded in 1962 by Sam Walton and based in Bentonville, Arkansas, runs a network of hypermarkets, discount stores, and grocery shops. It’s the biggest retailer globally, boasting over 10,500 stores and a team of 2.3 million employees. Operating in 24 countries, Walmart earns more than $572 billion in annual revenue.


Sam Walton opened the first Walmart store in Rogers, Arkansas, in 1962. The store was an instant success, and Walton quickly expanded his business. By the early 1980s, Walmart was the largest retailer in the United States. The company continued to grow throughout the 1980s and 1990s, and by the early 2000s, it was the world’s largest retailer.


Walmart is 61 years old. The company was founded in 1962, and it will celebrate its 62nd anniversary in 2024.


Walmart is a publicly traded company on the New York Stock Exchange. The company’s ticker symbol is WMT. Walmart is a family-owned business, with about half of its stock held by seven heirs of Sam Walton and his brother James “Bud” Walton. The Walton family is the richest family in America, with a net worth of $247 billion as of 2020.

The family also owns Arvest Bank, which operates in four states. Rob Walton, the eldest son of Sam Walton, served as the chairman of Walmart for more than two decades and remains on the board, along with his son-in-law Greg Penner, who is the current chairman. The other members of the Walton family are Jim Walton, Alice Walton, Christy Walton, Lukas Walton, Ann Walton Kroenke, and Nancy Walton Laurie.

Net Worth

Walmart’s net worth is estimated to be over $247 billion. The company’s market capitalization is over $475 billion.


Walmart has over 10,500 stores in 24 countries. The company has stores in all 50 states in the United States, as well as in Puerto Rico and the U.S. Virgin Islands. Walmart also has stores in Canada, Mexico, Central America, South America, Europe, Asia, and Africa.

Walmart portfolio business’s 2023

Walmart’s portfolio in 2023 includes the following businesses:

Segment/Brand/SubsidiaryDescriptionRevenue (FY 2023)Growth (FY 2023)Market Share/Position (FY 2023)
Walmart U.S.The largest segment of Walmart, operating retail stores, supercenters, neighborhood markets, and e-commerce platforms in the U.S.$411 billion7.3%No. 1 retailer in the U.S.
Walmart InternationalThe segment of Walmart that operates retail, wholesale, and e-commerce platforms in 23 countries outside the U.S.$100 billion2.1%No. 1 retailer in Mexico, Canada, and China
Sam’s ClubThe segment of Walmart that operates membership-only warehouse clubs and e-commerce platforms in the U.S. and Puerto Rico$64 billion9.8%No. 2 warehouse club in the U.S.
FlipkartThe Indian e-commerce company that Walmart acquired a majority stake in 2018$12 billion25%No. 1 e-commerce platform in India
Walmart HealthThe segment of Walmart that provides health and wellness services, such as primary care, dental, vision, pharmacy, and insurance$4 billion50%No. 3 health care provider in the U.S.
Walmart ConnectThe segment of Walmart that provides advertising solutions to brands and sellers on Walmart’s platforms$2 billion100%No. 4 digital advertising platform in the U.S.

Walmart’s portfolio is diverse and includes a variety of businesses that are well-positioned for growth. The company is well-capitalized and has a strong track record of profitability. Walmart is also investing in new businesses that are expected to drive future growth.

Key Financial Information

  • Revenue: $572.754 billion (2022)
  • Net income: $13.673 billion (2022)
  • Assets: $247.65 billion (2022)
  • Liabilities: $208.90 billion (2022)
  • Equity: $38.75 billion (2022)

Walmart acquisitions and divestment

Here is a list of Walmart’s mergers and acquisitions from 2016 to 2023:

YearCompanyAcquisition Price$3.3 billion
2017Moosejaw$900 million
2018Flipkart$16 billion
2019Parcel$375 million
2020Cornerstone OnDemand$1.6 billion
2021Zeekit$150 million
2022Alert Innovation$575 million
2022Volt SystemsUndisclosed
2022Delivery DriversUndisclosed

Walmart has also divested from a number of businesses in recent years, including:

  • Asda (2020)
  • Seiyu (2020)
  • Cornershop (2021)
  • Parcel (2022)

Walmart’s mergers and acquisitions strategy has been focused on expanding its e-commerce business and entering new markets. The company’s acquisition of Flipkart in 2018 was its largest acquisition to date and gave Walmart a significant presence in the Indian e-commerce market. Walmart’s acquisition of Parcel in 2019 gave the company a last-mile delivery network. Walmart’s divestments have been focused on businesses that are not core to its strategy.

Corporate Social Responsibility

Walmart has been criticized for its labor practices, environmental impact, and role in the decline of small-town America. However, the company has also been praised for its philanthropic efforts and its commitment to sustainability.

Environmental Initiatives:

  1. Reduced greenhouse gas emissions by 18% since 2015.
  2. Diverted 90% of waste from landfills.
  3. Sourced 100% renewable energy for all U.S. operations.
  4. Aiming to become a net-zero emissions company by 2040.

Social Initiatives:

  1. Raised the minimum wage for U.S. hourly workers to $14 an hour.
  2. Provided paid family leave for all U.S. employees.
  3. Offered free college tuition to U.S. associates.
  4. Launched a program to provide job training and placement for veterans.
  5. Donated $1.4 billion to charity in 2022.

Economic Initiatives:

  1. Invested $15 billion in its U.S. supply chain over the next five years.
  2. Sourced $250 billion in products from U.S. suppliers over the next decade.
  3. Created 1.5 million jobs in the United States.
  4. Planned to open 1,000 new stores in the United States by 2023.

Governance Initiatives:

  1. Increased the number of women on its board of directors to 30%.
  2. Tied executive compensation to sustainability and social responsibility goals.
  3. Established a new ethics and compliance hotline.
  4. Conducted a comprehensive review of its human rights policies and practices.

Walmart has encountered significant legal and public relations challenges along with recent actions taken to align with cultural and social trends:

  1. Walmart’s response to tragic mass shootings in El Paso and Dayton led to the decision to cease selling short-barrel rifle and handgun ammunition. The company also banned open carry of handguns in its stores, allowing only authorized law enforcement to carry firearms.
  2. Legal issues began in 1999 when Walmart contested the United Food and Commercial Workers International Union’s efforts to organize. The Arkansas Supreme Court ruled against Walmart in 2002.
  3. Lawsuits emerged in 2000, accusing Walmart of denying workers paid overtime, resulting in a class-action lawsuit.
  4. Following an attempt by Walmart meat department workers to unionize, Walmart shut down meat departments in 179 stores. This led to a court ruling against Walmart in 2003 for not consulting workers before making the decision.
  5. In 2006, Walmart had to pay $78 million for violating Pennsylvania state laws mandating overtime pay.
  6. A wrongful death lawsuit in 2008 highlighted a tragic incident at a Walmart store in Valley Stream, New York, where an employee was killed in a Black Friday shopping stampede. Walmart was fined for inadequate crowd management by the U.S. Department of Labor’s Occupational Safety and Health Administration.

Walmart’s history involves legal battles, labor disputes, and tragic incidents, prompting the company to take steps such as altering their firearms sales policies and addressing various legal challenges.


Walmart is a retail giant that has had a major impact on the world. The company is known for its low prices, wide variety of products, and convenient locations. Walmart has been criticized for its labor practices and environmental impact, but the company has also been praised for its philanthropic efforts and its commitment to sustainability.

Frequently asked questions about Walmart

Here are some frequently asked questions about Walmart from Quora with answers:

Question: Is Walmart good for the economy?

Answer: Walmart has a mixed impact on the economy. On the one hand, Walmart provides low-cost goods and services to consumers, which can help to boost economic growth. On the other hand, Walmart has been accused of driving down wages and putting small businesses out of business.

Overall, the impact of Walmart on the economy is complex and depends on a number of factors.

Question: Is Walmart ethical?

Answer: Walmart has been criticized for its labor practices, environmental impact, and role in the decline of small-town America. However, the company has also been praised for its philanthropic efforts and its commitment to sustainability.

Ultimately, whether or not Walmart is ethical is a matter of opinion. There are strong arguments to be made on both sides of the issue.

Question: What is Walmart’s competitive advantage?

Answer: Walmart’s competitive advantage is its low prices. Walmart is able to offer low prices because it operates on a very efficient scale. The company has a large network of stores and distribution centers, which allows it to keep its costs down.

Walmart’s low prices have allowed it to attract a large number of customers. This has given Walmart a significant advantage over its competitors.

Question: What are the pros and cons of working at Walmart?

Answer: There are both pros and cons to working at Walmart. On the plus side, Walmart offers competitive wages and benefits. The company also has a number of training programs that can help employees develop their skills.

On the downside, Walmart has been criticized for its demanding work environment and low pay. The company has also been accused of unfair labor practices.

Overall, whether or not Walmart is a good place to work depends on individual circumstances.

Question: What is the future of Walmart?

Answer: Walmart is facing a number of challenges in the future. The company is facing increased competition from online retailers such as Amazon. Walmart is also facing pressure from customers who are demanding more sustainable and ethical products.

Walmart is responding to these challenges by investing in e-commerce, sustainability, and new technologies. The company is also expanding into new markets such as India and Africa.

It remains to be seen whether Walmart will be able to overcome these challenges and remain a dominant player in the retail industry.

The Top-Earning Dead Celebrities of 2023

Thiago Messi – Age, Bio, Birthday, Family, Net Worth, Achievements, Future

Leave a comment