DEFINITION of 'Jim Walton'

Born in 1948 in Newport, Arkansas, Jim Walton is the third and youngest son of Walmart founder Sam Walton. Jim Walton earned his wealth from Walmart; his annual income in Walmart dividends alone was $475 million after taxes in 2013, according to Forbes. He was No. 12 on Forbes’ list of the world’s billionaires for 2014 with an estimated net worth of $35.3 billion.


Walton earned a bachelor’s degree in marketing from the University of Arkansas in Fayetteville in 1971, then took a year off to travel and earn a pilot’s license before joining Walmart, where he ran the company’s real estate operations for four years. He left his position with Walmart to join his family’s corporation, Walton Enterprises, the family’s holding company that owns banks and other businesses. He would later become its president.

Walton is chairman and CEO of Arvest Bank Group, a Walton-owned regional bank that operates more than 260 banks in more than 100 communities throughout Arkansas, Missouri and Oklahoma. As of 2014, it had assets exceeding $14 billion and was the largest bank in Arkansas by deposits and the largest in Oklahoma by branches. Community Publishers, of which Walton is also chairman and a board member, publishes newspapers in these same three states.

Arvest Bank was originally the Bank of Bentonville, Ark., before the Walton family purchased it in 1961. Arvest expanded by purchasing a small bank in 1963, the Bank of Pea Ridge, and another in 1975, First National Bank & Trust Company. The company began expanding more rapidly starting in 1984. In 2013 Arvest purchased 29 Bank of America locations in the region. Arvest has repeatedly won customer satisfaction awards from J.D. Power and Associates.

As of 2014, Walton lives in Bentonville, Ark., with his wife Lynne McNabb Walton. They have four children.

  1. Christy Walton

    Christy Walton is one of the world’s wealthiest people, with ...
  2. Grantor Retained Annuity Trust ...

    A grantor retained annuity trust (GRAT) is a financial instrument ...
  3. Bank

    A bank is a financial institution licensed as a receiver of deposits. ...
  4. Limited Service Bank

    Any type of banking business facility that is located separately ...
  5. Branch Banking

    Branch banking is engaging in banking activities such as accepting ...
  6. Retail Banking

    Typical mass-market banking in which individual customers use ...
Related Articles
  1. Insights

    Sam Walton Biography

    Sam Walton founded Walmart and Sam's Club big-box discount stores that have changed the way Americans buy goods.
  2. Personal Finance

    8 Ultra-Rich Women Investors

    These super-wealthy women have built their fortunes and their companies over the years.
  3. Small Business

    6 Entrepreneurs Who Built Their Fortunes From Nothing

    A look at how successful entrepreneurs built empires with a meager amount of money.
  4. Managing Wealth

    Billionaires Who Haven't Taken The Pledge

    The Pledge has gained a lot of attention, but some names are missing. We'll look at a few notables not signing up.
  5. Insights

    Who Is Driving Wal-Mart's Management Team (WMT)

    Wal-Mart's management team includes three senior executives who drive important strategic initiatives at the company. Included is information about their responsibilities, accomplishments and ...
  6. Investing

    Who's the Richest Person in the 4 Richest U.S. States?

    Billionaires have congregated in a few states more than others. Who are the wealthiest residents of those states with the densest population of ultra-rich?
  1. Can you use a Walmart credit card anywhere? (WMT)

    Learn where you can use a Walmart credit cards, and find out the details and services provided to Walmart credit card account ... Read Answer >>
  2. Can you use your Walmart credit card at Sam's Club?

    Learn how you can use a Walmart credit card at Sam's Club. Sam's Club also takes a variety of other payments and has many ... Read Answer >>
  3. Does Walmart take international credit cards?

    Learn how to use your international credit cards at Walmart stores and on Walmart's site, and find out how to ensure your ... Read Answer >>
  4. What is the banking sector?

    Why the banking sector is a vital industry, what it does to drive economic growth and examples of companies in this sector. Read Answer >>
Hot Definitions
  1. Liquidity

    Liquidity is the degree to which an asset or security can be quickly bought or sold in the market without affecting the asset's ...
  2. Federal Funds Rate

    The federal funds rate is the interest rate at which a depository institution lends funds maintained at the Federal Reserve ...
  3. Call Option

    An agreement that gives an investor the right (but not the obligation) to buy a stock, bond, commodity, or other instrument ...
  4. Standard Deviation

    A measure of the dispersion of a set of data from its mean, calculated as the square root of the variance. The more spread ...
  5. Entrepreneur

    An entrepreneur is an individual who founds and runs a small business and assumes all the risk and reward of the venture.
  6. Money Market

    The money market is a segment of the financial market in which financial instruments with high liquidity and very short maturities ...
Trading Center