Sam Walton

Samuel Moore Sam Walton was an American businessman and founder of Wal-Mart and Sam’s Club. Wal-Mart grew to be the world’s largest corporation by revenue and as the largest private employer in the world.

Rags To Riches Story

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      Sam Walton was born on March 29, 1918, in Kingfisher, Oklahoma. His father was a farmer who later entered farm mortgaging.

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      Sam Walton indicated signs of his genius since early childhood as he was awarded the youngest Eagle Scout in the state’s history. On graduating, he was declared The Most Versatile Boy.

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      He was voted “Permanent President” of his class during bachelor’s degree in economics at the University of Missouri.

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      Sam Walton worked in J. C. Penney as a management trainee for approximately 18 months. After serving as an Army captain in an intelligence unit during World War II, Walton returned to private life in 1945.

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      For purchasing a Ben Franklin variety store in Newport, he took a loan of $20,000 from his father in law, and also invested $5,000 from his savings.

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      By the early 1960s, Sam Walton, along with his brother James, owned 15 Ben Franklin franchises and one independent store.

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      They opened the first Wal-Mart store on July 2, 1962, in Rogers, Arkansas and by 1967; the Walton family owned 24 stores.

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      By 1980, Sam Walton launched the first Sam’s Club to serve small businesses and individuals.

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      By 1990s the company’s stock surged to $45 Million from $1 Billion in 1980. He often began his work days at 4:30 in the morning and his efforts made him the nation’s largest retailer in the year 1991.

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      From 1982 to 1988, he was named as the wealthiest man in the Unites States. Before his death, Sam Walton was honoured with the Presidential Medal of Freedom.