How Sam Walton Turned a Single Arkansas Store Into Walmart and a Family Fortune
Sam Walton opened his first discount store in Rogers, Arkansas, in 1962, and Walmart reached $1 billion in annual sales by early 1980. The company later expanded through Sam’s Club and now operates thousands of stores across many countries. The Walton family’s combined wealth, tied largely to its Walmart stake, has been estimated in the hundreds of billions.
Walton opened his first discount store in Rogers, Arkansas, on July 2, 1962. By January 31, 1980, Walmart recorded $1 billion in yearly sales—then the fastest any company had reached that mark, after 18 years. In 1967 it had 24 Arkansas stores and $12.6 million in sales; its 1970 listing raised nearly $5 million while the family retained 61%.
During the 1980s, Sam’s Club launched in Midwest City, Oklahoma, and the first Supercenter opened in Washington, Missouri. Walmart passed Sears in 1991. Walton received the Presidential Medal of Freedom in 1992 and died that April at 74. Today it reports $713 billion in annual revenue from 10,900 stores in 19 countries.
Walmart’s scale could continue to shape everyday life for millions of shoppers, workers, suppliers, and small businesses. Its purchasing power may influence prices and product availability, while its employment footprint can affect local labor markets. The Walton family’s enormous stake may also give it lasting influence over corporate decisions and philanthropy. How these effects unfold may depend on competition, regulation, and changing consumer habits.