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Walton Enterprises
Walton Enterprises LLC (WEI) is an American investment holding company based in Bentonville, Arkansas that serves as a family office to manage the wealth of the Walton family, the owners of Walmart.
Walton Enterprises is the largest shareholder of Walmart and is also the largest family office in the world.
In the early 1950s, Sam Walton was building his business by opening retail stores. His father-in-law Leland Robson convinced him that he should organize his own business as a family partnership.
In 1953, Walton Enterprises was established. Sam, Helen, and their four children Rob, John, Jim and Alice were all partners of the company per the legal documents. Sam and Helen owned 20% together while each child owned 20% personally.
According to Sam, their Walmart stocks went into WEI. Then the family which is its board makes decisions on a consensus basis. The amount paid out to each person is the same and is agreed upon. That way, the family accumulated funds in WEI rather than throwing it all over the place to live high.
Rob using his law expertise helped organize his family's ownership in Walmart into WEI, and also did legal work for Walmart's IPO in October 1970.
In 1975, the family agreed to make Jim the president of WEI. The major reason was he was seen as being as tightfisted with money as his father.
By 1989, besides holding 218 million Walmart common shares, WEI also had acquired extensive real estate holdings, four banks and half of a fifth bank, and other assorted businesses. Notable examples include Arvest Bank and Llama Company.
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Walton Enterprises
Walton Enterprises LLC (WEI) is an American investment holding company based in Bentonville, Arkansas that serves as a family office to manage the wealth of the Walton family, the owners of Walmart.
Walton Enterprises is the largest shareholder of Walmart and is also the largest family office in the world.
In the early 1950s, Sam Walton was building his business by opening retail stores. His father-in-law Leland Robson convinced him that he should organize his own business as a family partnership.
In 1953, Walton Enterprises was established. Sam, Helen, and their four children Rob, John, Jim and Alice were all partners of the company per the legal documents. Sam and Helen owned 20% together while each child owned 20% personally.
According to Sam, their Walmart stocks went into WEI. Then the family which is its board makes decisions on a consensus basis. The amount paid out to each person is the same and is agreed upon. That way, the family accumulated funds in WEI rather than throwing it all over the place to live high.
Rob using his law expertise helped organize his family's ownership in Walmart into WEI, and also did legal work for Walmart's IPO in October 1970.
In 1975, the family agreed to make Jim the president of WEI. The major reason was he was seen as being as tightfisted with money as his father.
By 1989, besides holding 218 million Walmart common shares, WEI also had acquired extensive real estate holdings, four banks and half of a fifth bank, and other assorted businesses. Notable examples include Arvest Bank and Llama Company.