Sam Walton, born in 1918 in Oklahoma, became the richest man in America by 1985 through the success of Wal-Mart, the world's largest retail chain. He credited his father for his trading instincts and his mother for his respect for money. Walton's early ventures included milking cows, selling magazine subscriptions, and delivering newspapers. Excelling in sports and academics, he paid his way through the University of Missouri by working various jobs. After a brief stint at J.C. Penney and service in the Army during WWII, Walton took a gamble on a Ben Franklin store in Arkansas, setting the stage for his retail empire.
Samuel Moore Walton, the founder of Wal-Mart, was born in 1918 in Kingfisher, Oklahoma, and passed away on April 5, 1992, in Little Rock, Arkansas. Recognized for his remarkable success in retail, Walton was declared the richest man in America by Forbes Magazine in 1985, with an estimated wealth of nearly $25 billion. This fortune was amassed through the growth of Wal-Mart, a publicly traded supermarket chain that has become a household name globally. The Walton family retains a significant stake in the company, holding approximately 38 percent of the issued shares. Wal-Mart's reputation as the world's largest retail chain is not just by name but also by its impressive sales figures. The company's expansion has been nothing short of extraordinary. From a modest beginning of nine stores with sales of $1.4 million in 1960, Wal-Mart had, by 1990, expanded to 1,528 stores, generating sales of $26 billion and profits over $1 billion. The company's growth trajectory was set to continue, with an ambitious goal of reaching a sustainable annual sales turnover of $100 billion by the year 2000. Wal-Mart's success story is a testament to Sam Walton's vision and the company's ability to scale up and maintain a dominant position in the retail market. Walton's legacy continues to influence the retail industry and the strategic direction of Wal-Mart, as the company pursues new markets and opportunities for growth.
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