Walmart is a titan of commerce.
With stores spread across the United States as well as in several other countries, you’re only ever a few miles from a Walmart store.
Because of its rapid growth and low prices, you may wonder if Walmart is actually owned by a Chinese company.
Here’s what you need to know about Walmart and whether China owns it.
Does China Own Walmart?
No, China does not own Walmart.
There was a rumor going around that Walmart had sold its shares to a Chinese company.
However, no such sale ever occurred.
USA Today checked the claim to determine if it was true or false.
After confirming that Walmart’s shares still remain largely in the hands of the heirs of Sam Walton, they concluded that the rumor was false.
In order for a Chinese or other business to buy Walmart, they would need to get their hands on the shares that the heirs own.
The heirs currently own more than half of Walmart’s shares.
As such, they ultimately control the direction of the business.
The rest of the shares are split up between various companies and investors.
The largest company to own a share after the Walton heirs is The Vanguard Group at 5%.
As such, Walmart is not owned by China or a Chinese company.
What Is Walmart’s Relationship With China?
Although Walmart isn’t owned by China, you may wonder what the relationship is like between them.
Like many other retailers, Walmart has a positive relationship with China.
The retailer has more than 400 stores in the country.
It also buys many of its products from China and resells them in its stores in the United States.
Although Walmart claims that 2/3 of its products sold in the United States come from the United States, there’s no question that they also buy products made in China.
As such, Walmart prefers that the United States and China continue to have a positive relationship as well.
The trade war between them will likely hurt Walmart and many other businesses that rely on the country for its products.
Although Walmart isn’t owned by China, it does trade with it.
Does China Own Sam’s Club?
China may not own Walmart, but you may wonder if it owns Sam’s Club.
Sam’s Club is a subsidiary of Walmart.
It’s a warehouse membership store that requires its members to pay a monthly or annual subscription to shop there.
In return, its members are able to buy products in bulk and at bulk prices.
Since Sam’s Club is a subsidiary of Walmart, it is also not owned by China.
Instead, it is also owned primarily by the Walton heirs.
Since the Walton heirs own it, Sam’s Club is technically owned by the United States.
Who Made Walmart?
Walmart wasn’t always the titan of grocery and other goods that it is today.
It actually started quite humbly.
Sam Walton is the founder of Walmart.
He opened the first Walmart in 1962 in Rogers, Arkansas.
Walton had a simple goal.
He wanted to offer the lowest prices on goods every time.
The business model quickly saw a lot of success.
In just a few short years, Walmart was able to expand.
By 1967, there were 24 Walmart stores which were earning Walton $12.7 million in sales every year.
The 1970s continued to see growth and advancement with Walmart.
It became a publicly-traded company and joined the New York Stock Exchange.
It also introduced the idea of greeters in the stores.
Walton got the idea after visiting some stores in Korea.
He brought the idea back to the United States and hired greeters to welcome customers as they entered and left the store.
Walmart also introduced the in-store pharmacy during the 1970s.
In the 1980s, Walton opened the first Sam’s Club.
It was also during this decade that the first Walmart Supercenter opened.
During the 1990s, Walmart started to spread to other countries.
It began by developing stores in Mexico.
Then it started to build stores in Canada and the United Kingdom as well.
In recent times, Walmart has continued to expand its services and reach.
It’s adopted the use of drones for deliveries to customers in parking lots.
It’s also created its own health system to help bring affordable healthcare to its customers.
Although Walmart may have gotten its start in the 1960s, it continues to innovate and grow.
Who Was Sam Walton?
Sam Walton was a retail magnate responsible for founding and growing Walmart.
He was born on March 29th, 1918 in Kingfisher, Oklahoma.
Walton started his domination of the grocery store sector in college.
He attended and graduated from the University of Missouri.
His degree was in economics.
The first step he took to start getting a more practical education in economics was by taking part in a management training program from the J.C. Penney Company.
After his training was complete, he opened his own five-and-dime store in Arkansas.
He and his brother would go on to open a few more five-and-dime stores throughout Arkansas.
Walton got an idea for a discount store that catered to small communities while he was overseeing several different five-and-dime stores under the Ben Franklin brand.
When he brought the idea to the company’s executives, they weren’t interested.
He decided to start the discount store on his own.
Walton opened up the first Walmart Discount City in Rogers, Arkansas in 1962.
The store offered a variety of different goods at discount prices.
One of the risks Walton took was placing his Walmart stores near small towns.
Most discount stores put their stores near large cities, but Walton believed that small towns could generate enough profit, too.
He was ultimately proven correct.
Sam Walton died in 1992.
Who Are The Richest Families In The World?
Thanks to the hard work of one family or another, some people are set for life simply by being born into the right family.
Here are some of the richest families in the world.
1. The Waltons
There’s no question that one of the richest families in the world, if not the richest, is the Waltons.
It all started with Sam Walton.
He founded Walmart and quickly grew it into an empire.
The family has an estimated wealth of $238 billion, and it only seems to be growing.
The Walton heirs, Rob, Alice, and Jim, are estimated to be worth around $60 billion each.
Although the company has had its share of problems with labor, it continues to be a titan of commerce today.
2. The Mars Family
If you have a sweet tooth, then you probably know the Mars family well.
They’re responsible for all the candy made under the Mars brand.
While the Mars Bar is one of their most famous confection, it’s probably their invention of M&Ms that most people know.
Frank Mars was the founder of the company.
His grandchildren, Jacqueline and John Mars, have a net worth of around $31.7 billion today.
Their estimated wealth is $142 billion.
It’s the fourth generation of Mars family members who are primarily involved with the company today.
3. The Koch Family
The Koch family got its wealth originally from the oil business.
However, Charles Koch, the current heir, is primarily known for his work in politics.
He’s a known lobbyist who tends to fund certain candidates for office and think tanks.
He tends to support those who follow his more conservative agenda.
He’s worth about $60 billion.
The family’s estimated value is $124 billion.
4. The Hermès Family
The Hermès family has a long history of wealth.
It can trace its roots back to Thierry Hermès who made riding apparel for aristocrats in the 19th century.
That dedication to luxury apparel remains with the family to this day.
One of its most famous products is Birkin bags.
It continues to tie itself into athletics, however.
The company regularly makes clothes for LeBron James and other athletes.
The estimated wealth of the family is $112 billion.
5. Al Saud
No list of the world’s wealthy families is complete without the Al Saud family.
They’re from the House of Saud, which is the royal family of Saudi Arabia.
Their family has ruled the country for close to a century.
Their primary source of income is their ties to rich oil companies.
The family is also extensive with many members opening up their businesses and providing services.
Because of that, it’s difficult to put a definitive number on their wealth, but a good estimate is around $100 billion.
Where Does Walmart Source Its Products?
Considering the low prices that Walmart has, you may wonder how they’re able to get such low prices.
You may wonder if it’s because the bulk of their products come from China.
China is notorious for making cheap products that allow retailers in the United States to sell them at higher prices and make a tidy profit.
According to Walmart’s supplier page, the company explains that some of its products do come from other countries.
It also states that 2/3 of its products sold in the United States come from either United States factories or Mexican factories.
In an effort to provide more jobs in the United States, Walmart has chosen to invest $350 billion into producing its goods in the United States.
It believes that this sort of investment will lead to 750,000 more jobs.
It also believes that this effort will help cut down on emissions and pollution.
Since Walmart won’t be importing as much from China, in particular, they’ll be reducing the pollution that’s generated from such a lengthy journey.
As such, although Walmart does still import products from China, it’s looking to invest in factories in its home country to limit how much it imports from foreign countries.
What Are The Benefits Of Working At Walmart?
Since Walmart is an American-owned and operated company, you may want to work for the company.
Walmart is a huge employer and it’s always in need of more associates.
Here are some benefits you can enjoy as an associate at Walmart.
1. Healthcare Coverage
Depending on your employment status, you may qualify for their healthcare coverage.
Walmart has its own healthcare plan that allows it to partner with some of the top medical facilities in the country.
Some of those include:
Furthermore, Walmart even offers full coverage on some of its plans.
In particular, some of the services that it covers include:
- Spine or Joint Replacements
- Heart Surgery
- Weight Loss Surgery
The company is aware of the hard toll that working in retail can take on the body.
It’s willing to cover some or all of the medical expenses that you might incur while working at Walmart.
Keep in mind that this coverage likely only lasts while you’re an employee at Walmart.
If you need surgery and you want your healthcare plan to cover it, then you’ll want to remain employed during that time.
This is a huge benefit because not every retail job offers healthcare like this.
Some might offer a healthcare policy that you can be part of, but the policy doesn’t always offer full coverage on certain surgeries.
In most cases, you end up paying some sort of copay.
This makes working at Walmart beneficial because it’s just one less thing you have to worry about.
2. Quick Access To Doctors
Another benefit of working at Walmart is that you’re able to get relatively quick access to a doctor.
Walmart has a Doctor on Demand program that enables its employees to have a virtual visit with a doctor.
The employee can describe any symptoms that they’re experiencing to the doctor.
The doctor is then able to list medications or other forms of treatment to help alleviate the problem.
Initially, employees had to pay a copay to use this service.
After the COVID-19 pandemic, Walmart waived the copay fee.
That said, they may reinstate the fee at a later date.
This is a great benefit because it ensures you’re able to get regular access to a doctor when you need one.
On your own, it can sometimes be difficult to get access to your doctor.
If your doctor only does in-person visits, then it can be even more difficult to find the time to schedule that visit.
With Doctor on Demand, it’s a lot easier to fit a virtual visit into your busy schedule.
This enables you to take charge of your health and start utilizing preventative health measures to ensure you age in a healthy way.
3. Free Mental Health Counseling Sessions
Walmart is also aware of the kind of toll that working in retail can have on one’s emotional and mental health.
To keep their employees happy and motivated, they offer three free sessions of emotional counseling through their Resources for Living program.
These sessions are face-to-face and involve a licensed counselor.
They can help you come up with healthy coping mechanisms to deal with some of the issues that you’re facing.
For many people, paying for therapy is a luxury.
They just don’t have it in their budget to afford a counselor or therapist.
Walmart makes it easy by giving you three sessions for free every year.
You can create benchmarks for yourself throughout the year to get a regular mental checkup.
It’s a great way to ensure you’re investing in yourself to become the best version of yourself.
Working at Walmart is beneficial because of the ability to get free access to a counselor.
4. 16 Weeks Maternity Leave
A lot of retail and other jobs have a problem when it comes to maternity leave.
Some jobs will only give a new mother a week or two before expecting her back at work.
The problem with that is bringing a new baby home requires quite an adjustment.
Not only are new parents exhausted from taking care of their baby, but they’re also still recovering.
The mother, in particular, has to recover from the exhausting side effects and ripples that childbirth gives.
Walmart supports new mothers by giving its employees 16 weeks of maternity leave that’s completely paid.
You won’t lose money simply because you decided to grow your family.
New dads, adoptive parents, and non-birth moms are also able to apply for parental leave.
They’re able to get up to six weeks of paid time off.
Working at Walmart is beneficial because they don’t punish you for wanting to expand your family.
Walmart is a retail giant that got its start in Arkansas.
Although it has continued to expand and spread to other countries, it’s still owned by the family who started it.
The Walton family still owns the most shares in the company which makes them an incredibly wealthy family.
It also means that China does not own Walmart.
NEXT:Is The Easter Bunny Real? (Explained)
Who owns the other 49% of Walmart? ›
Who Owns The Other 50% Of Walmart? The other half of Walmart not owned by the Walton family is owned by investment companies, holding groups, and individual shareholders. The second largest shareholder of Walmart stock is the Vanguard Group, one of the largest investment companies in the world.Did Walmart get bought by the Chinese? ›
Our ruling: False. We rate this claim FALSE because it is not supported by our research. Walmart was not sold to a Chinese firm, as any rudimentary online search will show. The only supporting “evidence” online comes from a 6-year-old story — on a satire site.Who owns the majority of Walmart? ›
Walton Enterprises, LLC is currently the largest shareholder, with 37% of shares outstanding. For context, the second largest shareholder holds about 9.9% of the shares outstanding, followed by an ownership of 4.8% by the third-largest shareholder.What country owns Walmart? ›
Recent News. Walmart, in full Walmart, Inc., formerly Wal-Mart Stores, Inc., American operator of discount stores that was one of the world's biggest retailers and among the world's largest corporations. Company headquarters are in Bentonville, Arkansas.Is Lowe's owned by Walmart? ›
Walmart does not own Lowes as of 2021. Lowes Inc. is a publicly-traded company without a majority shareholder, and Walmart owns no shares in the company. Walmart does, however, own several other discount chains and brands across the US and beyond.Does the Walmart family still own Walmart? ›
The Walton family is still the major shareholder of Walmart Inc. The children of Walmart founder Sam Walton own about half of all Walmart shares, according to official company documents.Why did Walmart invest in China? ›
“China is an important market for Walmart because it still represents a long-term growth opportunity, which explains why the company is investing in expertise to try to improve its results there,” said Jennifer Bartashus, a consumer staples analyst at Bloomberg Intelligence.How much stuff does Walmart get from China? ›
In America, estimates say that Chinese suppliers make up 70-80 percent of Walmart's merchandise, leaving less than 20 percent for American-made products.Why did Walmart go to China? ›
Early adaptors came to China looking for a new place to source their manufacturing, and Walmart was watching. Prices were rising in Taiwan and Korea, while other countries South and South East Asia did not have reliable enough infrastructure or a stable enough socioeconomic situation.Is Walmart the richest family in America? ›
At $224.5 billion, the Waltons are the richest family in the world thanks to their massive stake in Walmart, the world's largest company by revenue.
Why is Walmart closing stores suddenly 2023? ›
Walmart will close eight retail locations across the US this year, citing poor financial performance at each. The recent closures follow a trend of Walmart closing a handful of stores across various states each year, with the company saying that the stores are "underperforming" without providing specifics.Who are the top 5 shareholders of Walmart? ›
|Stockholder||Stake||Total value ($)|
|The Vanguard Group, Inc.||4.63%||17,980,699,381|
|BlackRock Fund Advisors||2.39%||9,259,784,679|
|SSgA Funds Management, Inc.||2.25%||8,722,891,907|
|Geode Capital Management LLC||0.92%||3,575,959,778|
Dollar General is not owned by China. However, the company buys a large portion of its merchandise from China. Its competitor Dollar Tree also buys a large portion of its goods from China. That's not surprising, as China is the largest supplier of low-cost goods that companies like Dollar General sell.Who still owns Walmart? ›
There are more than 11,400 Walmart locations across 26 different countries. Jim Walton, Alice Walton, and Rob Walton are the top three individual shareholders of Walmart. Walmart's largest institutional investors include the John T. Walton Estate Trust, Vanguard Group, and BlackRock.Is Sam's owned by Walmart? ›
Walmart -owned Sam's Club on Thursday said it will open more than 30 new stores in the U.S., marking its most aggressive expansion in years. The warehouse club's next store is expected to open in Florida in 2024.Why is Lowe's called Lowe's? ›
The first Lowe's store, North Wilkesboro Hardware, opened in North Wilkesboro, North Carolina, in 1921 by Lucius Smith Lowe. After Lowe died in 1940, the business was inherited by his daughter, Ruth Buchan, who sold the company to her brother, James Lowe, that same year.What company owns Home Depot? ›
The Home Depot.
|The Home Depot corporate headquarters in Atlanta, Georgia|
|Revenue||US$151.16 billion (2021)|
|Operating income||US$23.04 billion (2021)|
|Net income||US$16.43 billion (2021)|
Meet Walmart heir Lukas Walton, one of the richest millennials in the world: with a US$20 billion net worth at 36, he's focusing on philanthropy over the retail empire his grandad Sam Walton founded.Why did Walmart change its name? ›
Customers won't notice the change. The corporate name is different, but Walmart storefronts, advertisements, bags and merchandise dropped the hyphen in 2008. Why the switch? It's a nod to the digital era and its biggest rival, Amazon.Does Warren Buffett own Walmart? ›
With an ownership stake of just 0.05%, Berkshire is no longer a major shareholder in Walmart. More often than not, Buffett doesn't comment on his investment moves, so his reasons for selling so much of his Walmart position remain opaque.
Does China own Walmart in America? ›
No, Walmart is not owned by China, nor has it been sold to a Chinese investment group. According to USA TODAY fact check, a claim that Walmart had been sold to a Chinese firm was proven false. On Jan. 2 2021, a Facebook post claimed a Chinese business group bought out America's largest retailer.Is Walmart the largest importer from China? ›
Wal-Mart share of jobs lost due to growth of U.S. goods trade deficit with China, 2001–2013.
Walmart first entered the China market in 1996 and now has around 425 stores in the country under the two nameplates.How much of Amazon is from China? ›
In fact, by our own research, Chinese sellers make up over 63% of all third-party sellers on Amazon. In this article, we'll look at how many Chinese sellers there are more closely and the tactics being used by Chinese Amazon sellers in 2022 to manipulate the platform.What country does Walmart buy most of its products from? ›
The majority of its suppliers are in the United States. However, the supply chain for Walmart stores is global, with suppliers in the United Kingdom, Canada, China, Mexico, Taiwan, Hong Kong, France, and other countries.Does Target sell products made in China? ›
Walmart imports 26% of its merchandise from China, UBS' Lasser estimated, while Target imports 34% of its products from China. Other companies, including sporting goods, auto parts and furniture sellers, have even greater exposure to China.How much farmland is China own in the United States? ›
China owns and controls almost 192,000 acres of farmland right here in the United States. To be clear, it's not a huge percentage of our total farm acreage by any stretch.What is the issue with China and Walmart? ›
Walmart has been swept up in controversy in China after one of its retailers was accused of removing products sourced from Xinjiang. It's more evidence of how difficult it has become for Western businesses to navigate international politics in China.Why is Walmart not successful in China? ›
While Wal-Mart's EDLP (every day low prices) strategy has been very successful around the globe, it has been regarded as cheap and unsafe in China. While Wal-Mart has struggled to serve to local taste, its native counterpart, Sun-Art, has performed significantly better with its more localized approach.Who are the top 3 wealthiest families in America? ›
|Rank||Family||Origin of Wealth|
|#2||Koch Family||Koch Industries|
|#3||Mars Family||Mars Inc.|
|#4||Cargill-MacMillan Family||Cargill Inc.|
Who is the richest family on earth? ›
Who is richer Walmart or Costco? However, Walmart has consistently delivered an operating profit margin above Costco's and is doing so on a substantially more significant value of sales. Indeed, Walmart reported sales of $573 billion in its most recently completed fiscal year.Why is Walmart declining? ›
The Minneapolis-based company cited supply chain pressures and rising expenses, factors that also hurt Walmart, that led to heavy markdowns. Walmart had slashed its outlook for the year last quarter after earnings dropped 25 percent.Does Walmart run out of stock? ›
Despite being listed among the world's largest retail companies, even a place like Walmart can sometimes run out of popular items. However, shoppers at Walmart get in-stock alerts, which are designed to notify users when their item is made available once again.Why did Walmart decline? ›
The drop meant that for the first time in years, Walmart did not meet Wall Street's profit expectations, an ominous signal for other companies navigating inflation.Who makes the most money in Walmart? ›
The highest-paid job at Walmart is a software engineer.
These professionals earn an average salary of $123,821, which works out to about $ 59.53 per hour.
Who Owns Walmart? The Walton family still owns over 50% of the company through Walton Enterprises LLC and the Walton Family Holdings Trust. The rest of the 50% are owned by various shareholders which no shareholder owns more than 5% except for Vanguard.How many shares of Walmart Does Bill Gates Own? ›
|Ticker||Company||Number of Shares|
|KOF||Coca-Cola Femsa SAB de CV||6,214,719|
|WCN||Waste Connections Inc||2,149,175|
|Entity Name||Place of Incorporation||Description of Operations|
|Shandong Tyson-Da Long Food Company, Ltd. Tyson Canada International Holdings LP||China Canada||65% owned by TIHC; 35% Dailong Holding Company for foreign subsidiaries|
No, Bank of America is not partly owned by China. It is an American bank.
What companies rely heavily on China? ›
Tech and automobile giants like Intel, Apple, Tesla, General Motors and Ford not only rely on Chinese consumers, but also have huge manufacturing networks in the country. Intel, Apple and Tesla each generates about a quarter of their revenue from China.Is China trying to replace the U.S. dollar? ›
China's Plan to Replace the U.S. Dollar
China wants its currency, the yuan, to replace the U.S. dollar as the world's global currency. That would give it more control over its economy. As China's economic might grows, it's taking steps to make that happen.
It does not seek to dethrone the U.S. dollar and replace the dollar's dominance in the global system with the yuan. Instead, it is taking steps to make the yuan a regionally powerful currency through local institutions in China and regional intergovernmental organizations such as the SCO.Does China want to replace the dollar? ›
Despite its economic and political power, the country doesn't dominate the global flow of fiat currency. Now, it's looking to change that. Here is China's multitrillion, multidecade plan to replace the U.S. dollar as the world's reserve currency.Who owns the other 50% of Walmart? ›
Who Owns The Other 50% Of Walmart? The other half of Walmart not owned by the Walton family is owned by investment companies, holding groups, and individual shareholders. The second largest shareholder of Walmart stock is the Vanguard Group, one of the largest investment companies in the world.Who owns the largest share of Walmart? ›
Walton Enterprises, LLC is currently the largest shareholder, with 37% of shares outstanding. For context, the second largest shareholder holds about 9.9% of the shares outstanding, followed by an ownership of 4.8% by the third-largest shareholder.Who owns Walmart USA? ›
It is a publicly traded family-owned business, as the company is controlled by the Walton family. Sam Walton's heirs own over 50 percent of Walmart through both their holding company Walton Enterprises and their individual holdings.Who is the richest Walmart heir? ›
- Lukas Walton is the grandson of Sam Walton, the American businessman who created the Walmart empire.
- After his father died in a plane crash in 2015, Lukas reportedly inherited a third of his fortune.
- The Bloomberg Billionaires Index lists Lukas as the world's 68th-richest person as of February 2023.
On July 2, 1962, Sam Walton opens the first Walmart store in Rogers, Arkansas. The Walton family owns 24 stores, ringing up $12.7 million in sales. The company officially incorporates as Wal-Mart Stores, Inc.Are all Walmart owned by the same company? ›
It is a publicly traded family-owned business, as the company is controlled by the Walton family. Sam Walton's heirs own over 50 percent of Walmart through both their holding company Walton Enterprises and their individual holdings.
What is Rob Walton's net worth? ›Who is the richest family in America? ›
Lukas Tyler Walton (born September 19, 1986) is an American billionaire heir. He is the grandson of Sam Walton, the founder of Walmart.How much are the Walmart kids worth? ›
The Walmart heirs' combined worth is roughly $229 billion, according to Bloomberg. The family grants money and resources to support education, environmental efforts, and their home community through the Walton Family Foundation. In public, the Waltons live pretty modest lifestyles despite their wealth.Can I own a Walmart? ›
You Can't Buy a Walmart in 2022. Unfortunately, you cannot buy a Walmart as of 2022. Walmart is made up of various shareholders which makes Walmart not able to be a franchise. The Walton family still owns over 50% of the company through Walton Enterprises LLC and the Walton Family Holdings Trust.What percentage of Walmart is owned by China? ›
Is Walmart owned by China? No, Walmart is not owned by China, nor has it been sold to a Chinese investment group. According to USA TODAY fact check, a claim that Walmart had been sold to a Chinese firm was proven false.Is Costco owned by Walmart? ›
Despite being two large big box stores, Costco and Walmart are not affiliated in any way. Both companies are multinational corporations, and neither are owned by a larger parent company. Costco is a publicly traded multinational retail corporation owned by the Costco Wholesale Corporation.Which family is the richest in the world? ›
The 10 Richest Families in the World
- Walton Family. Company: Walmart. ...
- Mars Family. ...
- Koch Family. ...
- Al Saud Family. ...
- Hermes Family. ...
- Ambani Family. ...
- Wertheimer Family. ...
- Cargill, MacMillan Family.
1 spot? According to Forbes, Los Angeles Clippers owner, Steve Ballmer, who has a net worth of $83 billion is the richest sports team owner in 2022. Rob Walton, who recently bought the Denver Broncos, came in at no. 2 with an estimated net worth of $56.7 billion.What is Donald Trump's net worth? ›
Forbes estimates it at $3.2 billion as of October 26, 2022, with Trump making much higher claims. Trump received a loan of one million US dollars from his father, and he has also made money from fundraising, real estate ventures, hotels, casinos, golf courses, and Trump-branded products including neckties and steaks.