Rob Walton Net Worth: How Much Money Did He Invest in His Car Collection?

Samuel Robson “Rob” Walton is an American billionaire who inherited his family’s wealth from Walmart, the biggest store in the world. He is the oldest son of Helen Walton and Sam Walton. From 1992 to 2015, he was the chairman of Walmart.

Key Facts

  • Rob Walton is the oldest son of Sam Walton, who started Walmart.
  • When Walton’s father died in 1992, Walton took over as chairman.
  • In June 2015, he gave up his job as chairman, and Greg Penner, his son-in-law, took over. Penner is still on Walmart’s board of directors.
  • He and other people who are related to Sam Walton own about half of Walmart’s stock.
  • Walmart hired an extra 400,000 mostly temporary workers to keep up with demand during the Covid-19 pandemic.

Early Life of Rob Walton

Rob Walton Net Worth

 

Samuel Robson “Rob” Walton was born in Tulsa, OK, on October 28, 1944. He is Sam Walton’s oldest son. Sam Walton started Walmart. Rob was raised with many other Walton heirs and heiresses, such as his siblings Jim, Alice, and John, the last of whom died in 2005.

After opening a number of successful grocery stores across the United States, Rob’s father started Walmart. During the 1980s, Walmart became very important, and Sam Walton was once thought to be the richest person on the planet. Since then, Walmart has grown all over the world.

Rob Walton went to college at the University of Arkansas after he graduated from high school. Walton went to college in 1966 and got his bachelor’s degree in business administration. He also joined Lambda Chi Alpha, which is a group of college men. Rob went to Columbia Law School after he left the University of Arkansas. In 1969, he got his Juris Doctor degree.

The Career of Rob Walton

Rob Walton was given the chance to work for Conner & Winters, the law firm that worked for Walmart after he got his law degree. Rob worked as a lawyer for a few years at Conner & Winters before leaving to become the senior vice president of Walmart. He was put on the board of directors in 1982.

In 1992, Rob took over as chairman from his father two days after his father died. Walton stayed in this job until 2015 when he quit.

Denver Broncos

The Bowlen Trust, named after the team’s former owner Pat Bowlen, said on June 6, 2022, that it had reached a deal with Rob Walton to sell the Denver Broncos to him for $4.5 billion.

Pat Bowlen’s seven living children are the ones who will get money from the trust.

The Foundation of the Walton Family

Rob Walton Net Worth

A report from 2014 said that Rob Walton had never given any money to the Walton Family Foundation on his own. The report was made by looking at the foundation’s tax returns over a long period of time. This is important because Walmart often avoids criticism by pointing out how much they do for charity.

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But this report seemed to show that Rob isn’t actually giving to this foundation, even though he is one of Walmart’s biggest fans and has benefited from its success. But other news stories say that he and his siblings have each promised $2 billion to the foundation.

Wealth Details of Rob Walton 

Through the Walton Family Holdings Trust and Walton Enterprises, Rob Walton owns 13 percent of Wal-Mart. He also owns a 25.5% share of Arvest Bank, which is the largest bank in Arkansas.

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Overall, this share of ownership is worth about $1.6 billion. Since 1992, Walton has made about $11 billion from stock sales and dividends. Walton Enterprises also helps out his two siblings, Alice, and Jim Walton.

Personal life of Rob Walton

Rob Walton Net Worth

 

Walton got married to Patricia Rawlings Walton, and they had three kids together before they split up. He then got married to Carolyn Funk. They were together for more than 25 years before they split up in 2000. Melani Lowman-Walton was his third wife. They tied the knot in 2005.

Last month, in May 2022, when Walmart lowered its profit forecast, Sam and his family lost more than $27 billion because Walmart stock dropped sharply.

Net Worth of Robson Walton

S. Robson Walton, who goes by the name Rob Walton, is an American businessman and Sam Walton’s oldest son. Rob Walton is worth $68 billion dollars. Rob was a Walton heir and also played a key role in running the Walmart business. From 1992 to 2015, he served as Chairman.

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This makes him different from his siblings and other heirs since very few of them have ever worked in the Walmart business. Rob has been one of the 15 richest people in the world in the last few years.

Rob Walton lives a very quiet life, even though he has a huge net worth. He rarely gives interviews. Because of this, not a lot is known about his personal life. In this way, many of the other Walton heirs are the same.

How Much Money Did He Invest in His Car Collection?

Rob Walton Net Worth

Rob Walton is known for not talking about his private life, and he likes to stay out of the spotlight. Also, Rob is known for his large collection of old sports cars. Reports say that Walton has a Ferrari 250 GTO, which is worth between $35 million and $52 million. He also owns a 1965 Shelby Cobra, which is worth about $820,000 on average.

The market value of his Ferrari 250 LM is $14.6 million, and the value of his Ferrari 250 GT SWB is about $4.1 million. We also know that Rob has spent $12.1 million on a Ferrari 250 Testa Rossa in the past. On the open market today, this model is worth about $40 million. A 1960 Maserati T60 and a 1958 Scarab MKI are also important parts of his collection.

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Rob set a new world record when he bought his Ferrari 250 Testa Rossa at an auction for $12.1 million. This was the most money ever paid for a single car at an auction. He bought it overseas, which turned out to be a bit of a problem. U.S. Customs was set on charging Walton the standard, everyday import fee of 2.5 percent.

Rob’s lawyers tried to get the vehicle to be duty-free by saying it was a collector’s item. But U.S. Customs said Rob’s priceless Testa Rossa was a “normal” car, so he had to pay a $303,000 tariff to bring it into the country.

If you were wondering, $303,000 is about the same price as a 2020 Ferrari 488 Pista. On the other hand, Rob Walton probably wasn’t too worried about this import tariff, since he makes that much from his Walmart dividends in about an hour.

Many news sources say that his collection of cars is worth more than USD300 million.

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