Alice Walton Biography and How She Got Rich
Alice Louise Walton is the first child of Walt Disney and heiress to her father’s fortunes at Walmart. She was born on 7th October 1979. As of September 2016, she said to be in ownership of about US$11 billion in Walmart shares.
As of August 27, 2021, Walton has a net worth of $62.0 billion, making her the 20th-richest person in the world, and the second richest woman in the world just after Jeff Bezos’s wife, based on Bloomberg’s World Billionaires rankings.
Early life and Education
Walton started her early life in Newport, Arkansas where she was born. She grew up together with her brothers in Bentonville, Arkansas, and finished high school education at Bentonville High School in 1967.
She proceeded to Trinity University in San Antonio, Texas, and graduated with a Bachelor of Arts Degree in economics.
Walton began her highly successful career as an equity analyst and money manager for First Commerce Corporation and headed investment and business activities at Arvest Bank Group.
She also served as a broker for EF Hutton. In 1988, Walton founded her own company, Llama Company, which is an investment bank, she took up the role of both CEO and the Chairwoman of the company.
Walton was also the founder and the pioneer chair of the Northwest Arkansas local Council and played a very critical role in the development of the Northwest Arkansas Regional Airport, which became operational in 1998. At the time, stakeholders Northwest Arkansas Council saw a need for a regional airport that will serve the state. Alice Walton provided an initial payment of about a 16million to get started with the construction.
Her investment company also gave a $79.5 million bond for the construction of the Airport. As a way of recognizing the contributions of Alice Walton towards the realization of the Arkansas Airport project, the Airport terminal was named the Alice L. Walton terminal.
In 2001, as a way of honoring her, she was inducted into the Arkansas Aviation Hall of Fame.
In the late 1990s, Walton’s investment company, Llama went bankrupt.
Walton moved to start up a ranch business in Millsap, Texas, the ranch was named Walton’s Rocking Ranch. Walton was an avid lover of horses, she was known for her accuracy in determining which 5-month-olds would grow to be champion cutters. In 2015, Walton sold the farm and moved to Fort Worth, Texas, to focus on her company, Crystal Bridges Museum of American Art, the Bentonville, Arkansas, an art museum she founded she founded in 2011.
Her Love of Art
Walton’s love for art started since was a child. Sometimes, Walton and her mother would paint watercolors on their holiday trips. This passionate interest in art inspired her to found the Walton Family Foundation which developed the Crystal Bridges Museum of American Art located at Bentonville, Arkansas.
In December 2004, Walton purchased art sold from the collection of Daniel Fraad and Rita Fraad at Sotheby’s, in New York.
In 2005, Walton bought the popular paintings of Asher Brown Durand, known as the ‘Kindred Spirits’, in a classified auction, which was rumored to be sold at about US$30 million.
She also purchased paintings made by popular American painters, Winslow Homer and Edward Hopper, as well as the portrait of George Washington by Charles Wilson Peale, in anticipation of the commencement of her Crystal Bridges Museum. Later in 2009, Alice Walton purchased the notable Norman Rockwell’s “Rosie the Riveter” for $5 million.
Alice Walton was addicted to smoking. Her attempt at quitting smoking led her to acquire a painting made by John Sargent and Alfred Maurer which was showing a woman smoking.
She purchased another painting, made by Tom Weissmann, which is titled “Smoker #9” showing a hyper-realistic, and immaterial hand and mouth smoking a cigarette.
In an interview she was granted in 2011, she spoke about her plans of acquiring great works made by other artists. She also shared her of Marsden Hartley’s artworks describing him as one of her favorite artists. She described his work as both complexes, spiritual and simple.
She did not hide her love for Andrew Wyeth’s artworks, comparing his works with mysteries and artistic depictions of loneliness.
Personal Life, Politics, and Relationship
Alice Walton was a member of the 527 committees in the U.S. presidential election 2004, and as a committee member, she was the 20th largest donor. Alice Walton who is also a known conservative donated more than US$2.6 million to a conservative think tank, ‘Conservative Progress for America group’. Alice Walton is also a very popular donor of the Mit Romney support group, Restore Our Future, which was the main presidential campaign platform for Senator Mit Romney.
For the first time, Alice Walton donated about $350k to support the presidential campaign of Hillary Clinton against Donald Trump in the 2016 presidential elections.
In 2016, Walton an heiress of Walmart alongside other heirs donated $400 million in Walmart shares to a Family Trust fund which finances the family’s humanitarian and philanthropic causes.
In 1974, Alice Walton got married to a popular Louisiana-based investment banker at the age of 24, 2 ½ years later, they were divorced.
According to a report by Forbes, Alice Walton got married to a contractor a few years later, but the Marriage ended a few months later.
Alice Walton has been involved in several automobile accidents, with some of them being fatal. She lost one of her Jeeps when she had an accident driving during a 1983 Thanksgiving family reunion near Acapulco in Mexico and fell into a ravine, bruising her leg. The damage was fatal that she has to be airlifted out of Mexico to undergo surgeries in the United States.
In April 1989, she hit and killed Oleta Hardin a 50-year-old man who was crossing a road in Fayetteville, Arkansas. Witnesses at the scene testified that Alice Walton was speeding above the limit at the time, but no charges were brought against her.
In 1998, Walton struck a gas meter while driving after drinking Alcohol. She was charged and had to pay a $925 fine.
Other Interesting Facts about Alice Walton
Alice Walton Children
Although Alice Walton got married, the marriage did not last long, as she had no child. She lives alone where she raises Horses and, practice her art and paintings passion.
Alice Walton Email Contact
The official email address of Alice Walton is [email protected]. All inquiries and requests should be sent to this email.
Alice Walton Foundation
Apart from being a board member of her family’s foundation, Alice has her foundation known as the Alice Walton Foundation. The art Walton foundation has been involved in many charitable causes, as well as campaign funding for many politicians.
Alice Walton Husband
Although Alice Walton has been Married twice, she is currently divorced. Her first marriage was with a Louisiana-based banker and the second with a contractor, both marriages ended quickly.
Alice Walton Pictures