Sam Walton, Founder of Wal-Mart, Dies at 74
Statement from President George H.W. Bush
"Barbara and I are deeply saddened by the death of Sam Walton. He was a great American who built one of the most successful businesses in history. His legacy will live on for generations to come."
Sam Walton, the founder of Wal-Mart, died of bone cancer on April 5, 1992, at the age of 74. Walton was a self-made multibillionaire who built Wal-Mart into the world's largest retailer. He was known for his folksy but hard-driving business style, and he was credited with revolutionizing the way Americans shop.
Walton was born in Kingfisher, Oklahoma, in 1918. He dropped out of college during the Great Depression to help support his family. In 1945, he opened his first retail store, Walton's 5 & 10, in Bentonville, Arkansas. The store was a success, and Walton soon opened more stores in the surrounding area.
In 1962, Walton opened the first Wal-Mart store in Rogers, Arkansas. The store was a warehouse-style store that offered low prices on a wide variety of merchandise. The Wal-Mart concept was a huge success, and the company quickly grew into a national chain.
By the time of his death, Walton was worth an estimated $8.4 billion. He was one of the richest men in the world, but he never forgot his roots. He was a generous philanthropist, and he donated millions of dollars to charities and educational institutions.
Walton's death was a major loss for the business world. He was a visionary leader who changed the way Americans shop. His legacy will live on for generations to come.
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