biography
| name: |
Walton, Sam(uel Moore)
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| sex:
| male
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| lived:
| (1918–92)
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| biography:
| Retail executive, born in Kingfish, Oklahoma, USA. He was raised in Missouri and studied at the University of Missouri. In 1945 he opened the first of a chain of Ben Franklin five-and-dime franchises in Arkansas, and in 1962, his first Wal-Mart discount store. With headquarters at Bentonville, AR, he created a national chain of Wal-Mart stores in small towns and rural areas, selling brand-name goods in high volume at low prices (and often ruining local Main Street merchants). The company went public (1970), and thanks to a unique decentralized distribution system and his charismatic leadership and celebrated hands-on management style, it grew exponentially in the 1980s. In 1991 Wal-Mart became the nation's largest retailer with 1700 stores, and he was reported by Forbes to be the richest man in the country. He was president and chief executive officer until 1988 and chairman until his death. The family business empire included Arkansas and Oklahoma banks and newspapers. He was awarded the Medal of Freedom shortly before his death. In 1999 Wal-Mart took over the ASDA group in the UK. |
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