Since opening in 1962 in Rogers, Arkansas, Walmart has grown to approximately 10,500 stores and Sam’s clubs in 24 countries, according to its corporate website.
What started as a small shop has grown to a massive company that lives by the slogan, “Save Money. Live Better.” Today, the retail chain offers products in various departments, such as home and furniture, grocery and electronics.
But from its humble beginnings in the American South, has the ownership of Walmart since changed?
Sam Walton was the founder of Walmart, but who owns Walmart today?
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Who owns Walmart?
The Walton family is still the major shareholder of Walmart Inc. The children of Walmart founder Sam Walton own about half of all Walmart shares, according to official company documents.
The current CEO and president of Walmart Inc. is Doug McMillon, who assumed the position in 2014, according his biography on Walmart’s website.
John Furner is the CEO and president of Walmart U.S., where he oversees the nation’s 4,700 stores, as well as its website, app and supply chain, according to his biography on Walmart’s website.
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Is Walmart owned by China?
No, Walmart is not owned by China, nor has it been sold to a Chinese investment group.
According to USA TODAY fact check, a claim that Walmart had been sold to a Chinese firm was proven false. On Jan. 2 2021, a Facebook post claimed a Chinese business group bought out America’s largest retailer. This is untrue.
As previously mentioned, the Walton family still holds the majority of shares of Walmart, and the remainder of shares are “widely distributed across the marketplace, with no single entity holding more than the approximately 5% held by Vanguard,” according to the fact check.
Fact check: No, Walmart was not sold to a Chinese investment group
Who is the largest shareholder of Walmart?
The largest shareholder of Walmart is the Walton family, who owns more than half of all Walmart shares. The second largest shareholder in Walmart is the Vanguard Group, who holds around 5% of total Walmart shares.
Walmart became a publicly traded company in 1970, and its first stock was sold at $16.50 per share, according to its corporate website.
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This article originally appeared on USA TODAY: Who owns Walmart? A look at the biggest shareholders in company.
Source: finance.yahoo.com