Walmart is the largest retailer in the world. It has a long and storied history, dating back to 1962 when Sam Walton opened the first Walmart store. The company has come a long way since then, becoming a household name all over the globe.
In this article, we will take a look at Walmart and its various subsidiaries, as well as discuss its owner, Sam Walton's heirs. We'll also touch on some of the more controversial aspects of Walmart's business model.
So without further ado, let's take a look at Walmart and its family!
Walmart and Some Facts
Walmart was founded by Sam Walton in 1962. The first store was located in Rogers, Arkansas. Walmart has been publicly traded on the New York Stock Exchange since 1972. The company is headquartered in Bentonville, Arkansas.
The company operates over 11,000 stores in 27 countries. In 2016, Walmart generated $485.87 billion in revenue. This made it the largest company by revenue in the world for that year (surpassing Exxon Mobil).
The company employs over two million people, making it the largest private employer in the world.
Walmart is a family-owned business. The Walton family owns 50% of Walmart through their holding company, Walton Enterprises.
The other 50% is owned by public shareholders. The Walton family is worth an estimated $152 billion, making them the richest family in America.
Sister Companies owned by Walmart
In addition to Walmart stores, the company also owns a variety of other companies. As listed on https://all-sistersites.com/, here are some notable ones:
● Sam's Club: A membership-based warehouse club chain with over 650 locations in the United States.
● ASDA: A UK-based grocery store chain with over 600 locations.
● Jet.com: An online retailer that was acquired by Walmart in 2016 for $three billion.
● Flipkart: An Indian ecommerce company that was acquired by Walmart in 2018 for $16 billion.
● The Hub: A social media platform for businesses that was launched by Walmart in 2015.
Controversial Aspects of Walmart's Business Model
Walmart has been criticized for a variety of reasons, including its low wages, environmental impact, and treatment of workers.
Low Wages: Walmart has been accused of paying its employees low wages. This is in part due to the company's business model of offering low prices to customers. In order to offer low prices, the company needs to keep its costs down. One way it does this is by paying its employees relatively low wages.
Environmental Impact: Walmart has been criticized for its environmental impact. The company has been accused of contributing to pollution and deforestation. Walmart has also been criticized for its use of plastic bags.
Treatment of Workers: Walmart has been accused of mistreating its workers. This includes allegations of sexual harassment, as well as requiring employees to work long hours for low pay.
Sam Walton's Heirs: The Walton family, Walmart's owners, have come under fire for their wealth. The family is worth an estimated $152 billion. This wealth has been criticized as being undeserved, as well as being a result of the company's business model.