Since opening in 1962 in Rogers, Arkansas, Walmart has grown to approximately 10,500 Sam’s stores and clubs in 24 countries, according to its corporate website.
What started out as a small shop has grown into a large company that lives by the slogan “Save money. Live better.” Today, the retail chain offers products in various departments, such as home and furnishings, grocery and electronics.
But from its humble beginnings in the southern US, has Walmart ownership changed since then?
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 largest shareholder in Walmart Inc. Walmart founder Sam Walton’s sons own about half of all Walmart stock, according to official company records.
The current CEO and president of Walmart Inc. is Doug McMillon, who assumed the position in 2014, according to his bio on Walmart’s website.
John Furner is the chief executive officer and president of Walmart US, where he oversees the nation’s 4,700 stores, as well as the website, app and supply chain, according to his bio on the Walmart 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’s fact check, the claim that Walmart had been sold to a Chinese company turned out to be false. On January 2, 2021, a Facebook post claimed that a Chinese corporate group bought the largest American retailer. This is not true.
As mentioned above, the Walton family still owns a majority of Walmart’s shares, and the remainder of the stock is “widely distributed in the marketplace, with no single entity owning more than the approximately 5 percent stake held by Vanguard,” according to the fact check.
Fact check: No, Walmart has not been sold to a Chinese investment group
Who is Walmart’s largest shareholder?
Walmart’s largest shareholder is the Walton family, which owns more than half of all Walmart stock. Walmart’s second largest shareholder is Vanguard Group, which owns about 5% of Walmart’s total stock.
Walmart became a publicly traded company in 1970, and its first shares sold for $16.50 a share, according to its corporate website.
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This article originally appeared in USA TODAY: Who Owns Walmart? A look at the company’s major shareholders.