Jim Walton

Jim Walton is the youngest son of Walmart founder Sam Walton. A longtime steward of his family’s business interests, he has served on Walmart’s board, leads the family-owned Arvest Bank Group, and is an active philanthropist through the Walton Family Foundation.

Key facts

• Born June 7, 1948, in Newport, Arkansas.
• Bachelor’s degree in marketing, University of Arkansas (1971).
• Joined Walmart in 1972; served on Walmart’s board from 2005 to 2016.
• Chair and CEO of Arvest Bank Group, a regional bank with more than 260 branches across Arkansas, Missouri, and Oklahoma.
• Active in the Walton Family Foundation, which focuses on K–12 education, conservation, and regional investments.

Early life and education

Jim Walton grew up in Arkansas as the youngest of Sam and Helen Walton’s three sons. He earned a marketing degree from the University of Arkansas in 1971, traveled extensively, and obtained a pilot’s license before entering the family business.

Business career

Walmart and family enterprises

Walmart began as a single discount store in Rogers, Arkansas, and grew into a global retail giant. Jim Walton joined Walmart in 1972 in the company’s real estate operations. In 1975 he moved to Walton Enterprises, the family’s holding company, where he served briefly as president.

Following the death of his brother John Walton, Jim filled the vacant Walmart board seat in 2005 and remained on the board until 2016. Members of the Walton family continue to hold significant ownership of Walmart stock.

Arvest Bank Group

Jim Walton is chair and CEO of Arvest Bank Group, a banking franchise created and expanded by the Walton family. Arvest operates more than 260 banks in over 100 communities across Arkansas, Missouri, and Oklahoma. The bank grew through a series of acquisitions and, by 2022, reported assets exceeding $20 billion, ranking it among the largest banks in the region by deposits and branch network.

Community Publishers Inc.

Walton chaired Community Publishers Inc. (CPI), a regional newspaper and printing group he expanded from his family’s initial local paper holdings. CPI operated newspapers and printing services across Arkansas, Missouri, and Oklahoma until its sale to Berkshire Hathaway in 2015.

Philanthropy

Jim Walton is a principal supporter of the Walton Family Foundation, a family-led philanthropic organization focused on:
* Improving K–12 education, including support for charter schools.
* Conserving rivers and oceans.
* Investing in Northwest Arkansas and the Arkansas–Mississippi Delta.

The foundation has invested heavily in education initiatives. One notable program is the Charter Impact Fund, which provides long-term, fixed-rate loans to high-performing charter schools. In 2020 the foundation awarded several hundred million dollars in grants to advance its mission.

Family and succession

The Walton family has maintained leadership roles in its businesses across generations. In 2016, Jim Walton’s son Steuart Walton became the first member of the third generation to join Walmart’s board, marking a new phase of family involvement in company governance.

Bottom line

Jim Walton has combined leadership roles in banking, family enterprises, and philanthropy to sustain and shape the Walton family’s business and civic presence. As a longtime steward of family assets, he remains influential in regional banking and national philanthropic efforts.