Top Walmart Shareholders (2024)

Walmart (WMT) is one of the largest discount and superstore retailers in the world. The company, which was founded in 1962 by Sam Walton in Arkansas, offers a wide variety of merchandise through its traditional brick-and-mortar retail outlets as well as its growing ecommerce business.

Walmart sells a dizzying breadth of items, including apparel, housewares, small appliances, electronics, musical instruments, books, home improvement, shoes, jewelry, pharmaceutical products, automotive tools, groceries, and more. Walmart operates approximately 10,500 stores in 20 different countries.

As of April 2024, the company's 12-month trailing net income and revenue are $27 billion and $648.1 billion, respectively. The company'smarket capitalizationis about $486.22 billion. But who are the company's top shareholders? We look in more detail below at the six largest shareholders of Walmart.

Key Takeaways

  • Walmart is one of the world's largest retailers.
  • The company was established in 1962 by Sam Walton.
  • There are about 10,500 Walmart locations across 20 different countries.
  • Jim Walton, Alice Walton, and Rob Walton are the top three individual shareholders of Walmart.
  • Walmart's largest institutional investors include the John T. Walton Estate Trust, Vanguard Group, and BlackRock.

Top 3 Individual Insider Shareholders

Jim C. Walton

Jim C. Walton is the youngest son of Sam Walton. He had a seat on Walmart's board of directors for more than a 10-year period. He gave up that seat in 2016 to his son Steuart, who chairs Walmart's technology and ecommerce unit.

He is the chairman of Arvest Bank, which is owned by the Walton family. The bank, which is the oldest in Arkansas and among the largest in the country, provides consumers with everyday banking services, loans, mortgages, and investment services. Arvest has more than $26 billion in assets.

Jim Walton owns about 1.257 billion shares in the company.

Alice L. Walton

Alice L. Walton is the only daughter of Walmart founder Sam Walton. She is also one of the richest women in the United States, with a net worth of $72.5 billion. She owns 1.253 billion shares in the company.

Unlike her siblings, she doesn't actually work for the company her father started. Instead, Alice Walton serves as chair of the Crystal Bridges Museum Of American Art, which she established in Bentonville, Arkansas, in 2005. The organization has works from notable artists like Andy Warhol.

She did, however, spend some time as a buyer of children's clothing for Walmart after graduating from Trinity College in the early 1970s.

An insider refers to someone in a senior management position, a member of the board of directors, as well as people or entities who own more than 10% of the company's stock. In this context, it has nothing to do with insider trading.

S. Robson Walton

S. Robson (Rob) Walton is the son of Walmart founder Sam Walton and first joined the company in 1969, seven years after it was founded. He was chair of Walmart's board of directors for 23 years from 1992 to 2015, a period during which Walmart grew from a small chain into one of the world's biggest retailers.

Before taking the chair's role, he served in various roles, including senior vice president, corporate secretary, general counsel, and vice chair. A trained lawyer, he was a partner at Conner & Winters in Tulsa, Oklahoma, before joining Walmart. He retired from the board in 2015.

Walton owns over 1.249 billion shares in Walmart. His net worth is $77.5 billion, according to Forbes.

Neither Jim Walton nor Alice Walton are directors in the company.

Top 3 Institutional Shareholders

Institutional investors hold about 35% of Walmart's total shares outstanding, which is a relatively small share compared to institutional holdings of other large-cap stocks. This relatively small share, however, can be explained by the fact that the Walton family, in some way or another, holds the majority of the company's total shares outstanding, at about 46.51%.

John T. Walton Estate Trust

According to the company's most recent proxy statement, the John T. Walton Estate Trust owns more than one billion shares in the company. The business address is a P.O. Box in Bentonville, Arkansas.

The three Walton children named above—Jim, Alice, and Rob—are cotrustees for the trust. Together, these three individuals have the power to either sell and/or vote on those shares. The Walton children are also managing members of Walton Enterprises, which is the private holding company through which the Walton family manages their ownership interests in Walmart.

Vanguard Group

Vanguard Group is primarily a mutual fund and exchange-traded funds (ETF) management company with about $7.8 trillion in global assets under management (AUM), as of September 30, 2023. The Vanguard S&P 500 ETF (VOO) is one of its largest ETFs with about $1.1 trillion in AUM. Walmart comprises 0.58 % of VOO's holdings, as of February 2024.

As of Dec. 31, 2023, Vanguard owns roughly 412.6 million shares of Walmart. This represents about 5.12% of the total shares outstanding.


BlackRock provides a variety of services to investors and institutions, including investment, advisory, and risk management. The company was established in 1988 and has grown, expanding its presence in 36 countries.

Investors may know BlackRock because of its mutual funds and iShares ETFs. These products provide investors with access to the equity, fixed-income, and commodity markets. In fact, it is one of the world's largest investment management firms in the world, with more than $10 trillion in AUM as of Dec. 31, 2023.

BlackRock had about 291.76 million shares as of Dec. 30, 2023, giving it about 3.62% of the total shares outstanding.

Diversity and Inclusiveness of Walmart

As part of our effort to improve the awareness of the importance of diversity in companies, we offer investors a glimpse into the transparency of more than just who are the shareholders at Walmart. We highlight the company's commitment to diversity, inclusiveness, and social responsibility as a whole. Find out how Walmart reports the diversity of its management and workforce. The ✔ shows if Walmart discloses its data about the diversity of its board of directors, C-Suite, general management, and employees overall across a variety of markets.

Walmart Diversity & Inclusiveness Reporting
RaceGenderAbilityVeteran StatusSexual Orientation
Board of Directors
General Management✔ (U.S. Only)✔ (U.S. Only)
Employees✔ (U.S. Only)✔ (U.S. Only)

Do you have a news tip for Investopedia reporters? Please email us at

Top Walmart Shareholders (2024)


Who are the top shareholders of Walmart? ›

There are about 10,500 Walmart locations across 20 different countries. Jim Walton, Alice Walton, and Rob Walton are the top three individual shareholders of Walmart. Walmart's largest institutional investors include the John T. Walton Estate Trust, Vanguard Group, and BlackRock.

Who owns the other 50% of Walmart? ›

It is a publicly traded family-owned business, as the company is controlled by the Walton family. Sam Walton's heirs own over 50 percent of Walmart through both their holding company Walton Enterprises and their individual holdings.

What are experts saying about Walmart stock? ›

WMT Stock 12 Month Forecast

Based on 28 Wall Street analysts offering 12 month price targets for Walmart in the last 3 months. The average price target is $65.97 with a high forecast of $75.99 and a low forecast of $58.99. The average price target represents a 9.51% change from the last price of $60.24.

How much was $1000 in Walmart stock in 1970? ›

Investing $1,000 In Walmart IPO: Walmart offered shares for $16.50 on Oct. 1, 1970 for its IPO. A $1,000 investment could have purchased 60.61 shares of Walmart stock.

Who owns 51% of Walmart? ›

Walmart is owned by its shareholders. The Walton family is the largest shareholder of Walmart, holding 50% of the company's shares. The Walton family acquired such high ownership of the company because they are the descendants of Sam Walton, who founded the company.

What family owns Walmart? ›

On July 2, 1962, Sam Walton opens the first Walmart store in Rogers, Arkansas. The Walton family owns 24 stores, ringing up $12.7 million in sales.

Who is the primary shareholder of Walmart? ›

The Walton family owns about 45% of Walmart's outstanding shares through the trust and their main investment vehicle, Walton Enterprises, data compiled by Bloomberg show. Alice, Jim and Rob Walton have a combined fortune of $274 billion, according to the Bloomberg Billionaires Index.

What percentage of Walmart does China own? ›

China does not own Walmart, it's an American multinational retail corporation.

Who makes the most money from Walmart? ›

The job with the best salary at Walmart, according to Glassdoor, is the position of Vice President of Strategic Accounts, which has an average salary of $326,000 to $587,000 per year.

Does Warren Buffett own Walmart? ›

World's third richest person Warren Buffet's Berkshire Hathaway has sold its last Walmart shares, ending a relationship of over 20 years. The world's largest retailer was once among Berkshire's five biggest equity holdings as recently as 2014, valued at over $5 billion.

Top Articles
Latest Posts
Article information

Author: The Hon. Margery Christiansen

Last Updated:

Views: 6125

Rating: 5 / 5 (50 voted)

Reviews: 81% of readers found this page helpful

Author information

Name: The Hon. Margery Christiansen

Birthday: 2000-07-07

Address: 5050 Breitenberg Knoll, New Robert, MI 45409

Phone: +2556892639372

Job: Investor Mining Engineer

Hobby: Sketching, Cosplaying, Glassblowing, Genealogy, Crocheting, Archery, Skateboarding

Introduction: My name is The Hon. Margery Christiansen, I am a bright, adorable, precious, inexpensive, gorgeous, comfortable, happy person who loves writing and wants to share my knowledge and understanding with you.