Who Was Sam Walton?
Sam Walton was a businessman, recipient of the Presidential Medal of Freedom and the founder of Wal-Mart. He began his career retail by managing a series of department stores before starting his own business, which is now the world's largest retail store.
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Early Years
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Sam Walton was born in Kingfisher, Okla., on March 29, 1918. Though his family moved frequently, he excelled at school and sports. In eighth grade Sam became the youngest Eagle Scout in Missouri history and he graduated high school "the Most Versatile Boy" in his class, as voted by his classmates. He attended the University of Missouri, where he earned many awards and nominations, graduating with a degree in economics.
The Military
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Walton took a management position with a JCPenny in Iowa, but resigned when the U.S. became involved in World War II in 1942. He had been active in the ROTC in college and anticipated being called to duty. He married Helen Robson in February 1943, shortly before leaving to serve in the Intelligence Corps.
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Early Career
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He left the military in 1945 and opened a variety store under the Ben Franklin chain in Newport, Ark., using $20,000 he borrowed from his father-in-law and $5,000 he saved from the military. His store was successful due in part to his low prices and long operating hours, allowing him to expand around Arkansas and into Kansas and Missouri.
Wal-Mart
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Walton opened the first Wal-Mart in 1962 in Bentonville, Ark. He used the same strategies that made him successful with the Ben Franklin stores, which proved successful once again. Wal-Mart brought wealth to Walton, making him one of the richest men in the United States and Wal-Mart the largest retailer in the world. He passed away in 1992 after receiving the Presidential Medal of Freedom from President Bush.
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