Key Takeaways
- Who owns Walmart? Walmart Inc. is a publicly traded company owned by its shareholders, with the Walton family remaining its largest concentrated shareholder group.
- Walton Enterprises, LLC reported beneficial ownership of 3,516,197,849 Walmart shares, representing 44.11% of the company as of April 10, 2026.
- The Walton Family Holdings Trust separately held 513,524,456 shares, equal to 6.44% of Walmart’s outstanding shares.
- These percentages should not be simply added together, because Walton Enterprises’ reported beneficial ownership already includes the trust’s shares for which it holds voting power through an irrevocable proxy.
- Sam Walton founded Walmart in 1962, but he is not a current owner. He died in 1992.
- Walmart has been publicly traded since 1970 and currently trades on the New York Stock Exchange under the ticker WMT.
- John Furner is Walmart’s President and CEO as of 2026, while Greg Penner serves as non-executive chairman of the Board.
- Walmart’s 2026 annual report shows 10,955 retail units worldwide as of the relevant reporting dates and reports $713.2 billion in fiscal 2026 revenue.
- Ownership percentages can change over time, so Walmart’s latest SEC filings and proxy statements are the best sources for current ownership information.
Quick Answer: Who Owns Walmart?
Who owns Walmart? The simple answer is that Walmart is owned by its shareholders because it is a publicly traded company. However, the Walton family remains the company’s largest concentrated shareholder group and has significant influence over Walmart’s voting structure.
Walmart’s 2026 proxy statement lists 7,970,990,515 shares outstanding as of April 10, 2026. On that date, Walton Enterprises, LLC reported beneficial ownership of 3,516,197,849 shares, or 44.11% of Walmart. The Walton Family Holdings Trust reported ownership of another 513,524,456 shares, or 6.44%.
There is an important detail behind those numbers. Walton Enterprises’ 44.11% beneficial-ownership figure includes the shares held by the Walton Family Holdings Trust because Walton Enterprises has voting power over those shares under an irrevocable proxy. The trust retains dispositive power over its own shares.
So it would be misleading to say that the Walton family simply owns 50.55% of Walmart by adding 44.11% and 6.44%.
A better description is this:
Walmart is a public company, while the Walton family has a very large ownership position and substantial voting influence through its family entities and trusts.
Who Owns Walmart Today?
Walmart Inc. is not privately owned by one person or family. Its common stock is publicly traded, meaning investors can buy and sell shares of the company.
Walmart’s own history records that the company became publicly traded in 1970, when its first stock was sold for $16.50 per share. It was later listed on the New York Stock Exchange under the ticker WMT in 1972.
Today, the Walton family remains closely connected to Walmart through entities such as Walton Enterprises, LLC and the Walton Family Holdings Trust.
The ownership structure is therefore more complicated than naming one Walton family member as “the owner.”
Walmart Ownership at a Glance
| Ownership entity | Shares reported | Percentage of Walmart |
|---|---|---|
| Walton Enterprises, LLC | 3,516,197,849 beneficially | 44.11% |
| Walton Family Holdings Trust | 513,524,456 | 6.44% |
| Other shareholders | Remaining shares | Majority outside these reported entities |
Important: The 44.11% figure for Walton Enterprises already includes the 513.5 million shares held by the Walton Family Holdings Trust for which Walton Enterprises has voting power. Therefore, these two percentages should not be added together to claim that the Walton entities own 50.55% of Walmart.
The Walton Family’s Connection to Walmart
The Walton family story begins with Sam Walton, who opened the first Walmart store in Rogers, Arkansas, on July 2, 1962.
Sam Walton had already gained retail experience before launching Walmart. His approach centered on offering customers low prices and building a business that could serve smaller communities. Walmart grew rapidly, and the company went public in 1970.
Sam Walton died in April 1992, but his family’s connection to Walmart did not end with him.
Ownership passed through family structures and trusts, eventually creating the corporate arrangement that exists today.
That is why describing Walmart as “owned by Sam Walton” would be incorrect. Sam Walton was the founder, not the current owner.
How Much of Walmart Does the Walton Family Own?
This question requires some care because share ownership, beneficial ownership, voting power and dispositive power are not always the same thing.
Walmart’s 2026 proxy lists Walton Enterprises as the beneficial owner of 3,516,197,849 shares, equal to 44.11% of Walmart’s outstanding stock. Of that figure, 3,002,673,393 shares are held by Walton Enterprises itself, while another 513,524,456 shares are held by the Walton Family Holdings Trust. Walton Enterprises has sole voting power over the trust’s shares through an irrevocable proxy.
The Walton Family Holdings Trust separately reports those 513,524,456 shares as its own beneficial holdings because it retains dispositive power over them. Its trustees exercise that power by majority vote, while voting power is exercised by Walton Enterprises under the proxy arrangement.
This distinction is important because it prevents a common mistake: counting the same shares twice when describing the Walton family’s position.
Does the Walton Family Own More Than 50% of Walmart?
Not in the straightforward sense of owning more than half of Walmart’s outstanding shares.
Walmart’s 2026 proxy reports Walton Enterprises with 44.11% beneficial ownership and the Walton Family Holdings Trust with 6.44%. But the 6.44% is included within Walton Enterprises’ beneficial-ownership figure because of the voting proxy.
In other words, you should not take 44.11% + 6.44% and call that the family’s ownership percentage.
The more accurate conclusion is that entities connected with the Walton family control a very substantial block of Walmart stock and voting power, while Walmart remains a public corporation with many other shareholders.
Walmart itself says in its 2026 proxy that approximately 44% of its shares are held by entities related to the family of Sam Walton.
Who Are the Walton Family Entities?
The name “Walton family” can make the ownership structure sound simpler than it actually is.
Walton Enterprises, LLC is managed through several WELLCO Management Trusts. Walmart’s 2026 proxy identifies Walton family members serving as trustees of those management trusts, including Carrie Walton Penner, Benjamin Walton, Rob Walton, Samuel Walton, Alice Walton, Jim Walton, Steuart Walton, Thomas Walton and Lukas Walton, among others.
The Walton Family Holdings Trust is a separate entity. Its trustees include members of the Walton family, and the trust has granted Walton Enterprises an irrevocable proxy to vote the Walmart shares it holds.
This arrangement means that there is no single Walton family member who can accurately be described as the sole owner of Walmart.
The ownership is held through a collection of entities, trusts and individual interests.
Is Walmart Still Owned by Sam Walton?
No.
Sam Walton founded Walmart, but he does not personally own the company today. He died in 1992 at the age of 74. Walmart’s own history records that Rob Walton became chairman of the Board following Sam Walton’s death.
The Walton family’s ownership interests continued through later generations and family-controlled entities.
So there is an important difference between these statements:
Correct: Sam Walton founded Walmart.
Correct: The Walton family remains Walmart’s largest concentrated shareholder group.
Incorrect: Sam Walton currently owns Walmart.
Who Runs Walmart?
Ownership and management are two different things.
The people who own Walmart shares do not necessarily run the company’s daily operations.
As of 2026, John Furner is Walmart’s President and CEO. He took over from Doug McMillon on February 1, 2026. Walmart’s board announced the succession in November 2025, and Furner joined the Board at that time.
Greg Penner serves as Walmart’s non-executive chairman. Walmart’s 2026 proxy identifies Penner as chairman and Furner as President and CEO.
That gives us a much clearer picture:
| Role | Person or group |
|---|---|
| Founder | Sam Walton |
| Largest concentrated shareholder group | Walton family entities |
| President & CEO | John Furner |
| Non-executive Chairman | Greg Penner |
| Other shareholders | Individuals, institutions and investment funds |
So if someone asks who runs Walmart, the answer is John Furner.
If they ask who owns Walmart, the answer is Walmart’s shareholders, with the Walton family maintaining the largest concentrated position.
Is Walmart a Family-Owned Company?
It depends on what someone means by “family-owned.”
Walmart is not a privately held family business. It is a public corporation whose shares trade on the stock market.
At the same time, the Walton family has maintained a significant ownership position for decades. Walmart’s 2026 proxy describes approximately 44% of the company’s shares as being held by entities related to the family of founder Sam Walton.
The best description, therefore, is:
Walmart is a publicly traded company with the Walton family as its largest concentrated shareholder group.
Calling Walmart simply a “Walton family-owned company” leaves out the fact that millions of shares are held by other investors.
Calling it completely independent of the Walton family would also miss the family’s substantial ownership and voting influence.
Why Is Walmart Publicly Traded?
Walmart’s public ownership goes back more than five decades.
The company went public in 1970, when its first stock was offered to investors. Walmart says the proceeds from going public helped finance the company’s continued expansion.
Walmart was later listed on the New York Stock Exchange in 1972 under the ticker WMT.
Being publicly traded means Walmart shares can be held by a broad range of investors.
These include:
- Individual investors
- Mutual funds
- Pension and retirement funds
- Asset managers
- Institutional investors
- Other investment vehicles
The exact mix changes as investors buy and sell shares.
Who Are Walmart’s Other Shareholders?
The Walton family is not the only significant shareholder group.
Because Walmart is publicly traded, the remainder of the company’s shares are distributed among many investors.
Large institutions can hold substantial positions, while millions of individual investors may own Walmart indirectly through retirement accounts, mutual funds and other investment products.
The important point is that Walmart does not have one person who owns the entire company.
Its ownership is divided into shares, and those shares belong to the company’s shareholders.
Walmart’s proxy specifically identifies shareholders and entities that meet the SEC’s reporting threshold for major beneficial ownership.
Who Controls Walmart?
Control is a little more complicated than simply asking who owns the most shares.
Walmart’s ownership structure gives Walton Enterprises voting power over the shares it holds directly and voting power over the shares held by the Walton Family Holdings Trust through the irrevocable proxy.
The trust, meanwhile, retains dispositive power over its own shares.
This arrangement gives the Walton family significant influence over Walmart’s corporate governance.
However, that does not make Walmart a private company.
Walmart still has a public shareholder base, an independent board structure and publicly traded stock.
Walmart’s Growth From a Small Store to a Global Business
The ownership story becomes more interesting when you look at how far Walmart has come since 1962.
Sam Walton opened the first Walmart store in Rogers, Arkansas, on July 2, 1962. The company expanded throughout the United States and eventually began international operations. Walmart opened its first international location in Mexico in 1991.
Today, Walmart is one of the world’s largest retailers.
Its fiscal 2026 annual report says the company generated $713.2 billion in total revenue for the fiscal year ended January 31, 2026.
As of January 31, 2026, Walmart reported 10,955 retail units worldwide, including Walmart U.S., Sam’s Club U.S. and Walmart International locations.
Those figures show why the question of who owns Walmart goes far beyond a single family or a single country.
Does Walmart Own Sam’s Club?
Yes.
Sam’s Club U.S. is one of Walmart Inc.’s three reportable operating segments, alongside Walmart U.S. and Walmart International.
The first Sam’s Club opened in Midwest City, Oklahoma, in 1983. It was created by Sam Walton as a membership warehouse business and was named after him.
Walmart’s 2026 annual report lists 601 Sam’s Club U.S. units as of January 31, 2026.
So Sam’s Club is not a separate company owned by the Walton family. It is part of Walmart Inc.’s overall business.
Common Misunderstandings About Walmart Ownership
Does John Furner Own Walmart?
No.
John Furner is Walmart’s President and CEO. He is responsible for leading the company’s business, but Walmart is owned by its shareholders.
Does Sam Walton Still Own Walmart?
No.
Sam Walton founded Walmart in 1962 and died in 1992. His family, however, continues to have a major ownership position through family entities and trusts.
Does One Walton Family Member Own Walmart?
No.
Walmart’s ownership is spread across corporate entities, trusts, individuals and public shareholders. The largest Walton-related holdings are structured through Walton Enterprises and the Walton Family Holdings Trust.
Does the Walton Family Own 100% of Walmart?
No.
Walmart is publicly traded, and a large portion of its stock is held outside the Walton family entities.
Does the Walton Family Own More Than 50%?
You should not answer this by simply adding the 44.11% Walton Enterprises figure to the 6.44% Walton Family Holdings Trust figure.
The two figures overlap because Walton Enterprises’ beneficial-ownership number includes the trust’s shares for which it has voting power.
Is Walmart Listed on Nasdaq?
No.
Walmart trades on the New York Stock Exchange, where its ticker symbol is WMT.
This is an important correction because some online articles incorrectly identify Walmart as a Nasdaq-listed company.
Walmart Ownership vs. Management
It is easy to confuse the people who own a company with the people who operate it.
Walmart’s structure can be summarized like this:
| Question | Answer |
|---|---|
| Who founded Walmart? | Sam Walton |
| Who owns Walmart? | Its shareholders |
| Who is the largest concentrated shareholder group? | Walton family entities |
| How much does Walton Enterprises report? | 44.11% beneficial ownership |
| How much does Walton Family Holdings Trust report? | 6.44% |
| Can those two percentages simply be added? | No |
| Who is Walmart’s CEO in 2026? | John Furner |
| Who is Walmart’s chairman? | Greg Penner |
| Is Walmart publicly traded? | Yes |
| Where is Walmart listed? | New York Stock Exchange |
| What is Walmart’s ticker? | WMT |
| Is Walmart privately owned by the Walton family? | No |
Why Walmart’s Ownership Structure Matters
Walmart’s ownership structure is unusual because a large portion of the company’s stock remains connected to the founding family even though the business has been publicly traded for more than 50 years.
That gives the Walton family a meaningful voice in corporate governance while allowing outside investors to own Walmart stock as well.
The structure also explains why different websites sometimes publish apparently conflicting ownership percentages.
One source might discuss shares directly held by Walton Enterprises. Another might discuss beneficial ownership. A third might discuss the shares held by the Walton Family Holdings Trust.
Those numbers are not necessarily describing different ownership positions.
Understanding the voting and proxy arrangements is essential to interpreting them correctly.
The Bottom Line
So, who owns Walmart?
Walmart is owned by its shareholders because it is a publicly traded corporation. The Walton family, through entities including Walton Enterprises, LLC and the Walton Family Holdings Trust, remains the company’s largest concentrated shareholder group and has significant voting influence.
As of April 10, 2026, Walmart reported 7.97 billion shares outstanding. Walton Enterprises reported beneficial ownership of 3.516 billion shares, representing 44.11% of the company. The Walton Family Holdings Trust separately reported 513.5 million shares, representing 6.44%, but those trust shares are already included in Walton Enterprises’ beneficial-ownership figure because of its voting proxy.
That distinction is the key to understanding Walmart’s ownership correctly.
The company was founded by Sam Walton, but he is not its current owner. Walmart has been publicly traded since 1970 and today trades on the New York Stock Exchange under WMT.
Meanwhile, John Furner leads the company as President and CEO, and Greg Penner serves as non-executive chairman.
In short, Walmart is not a privately owned Walton family business. It is a public company with millions of shares held by investors around the world. What makes Walmart different is the Walton family’s unusually large and influential stake, which has remained an important part of the company’s ownership structure for generations.
Frequently Asked Questions
Who owns Walmart?
Walmart is owned by its shareholders. The Walton family is the company’s largest concentrated shareholder group through entities such as Walton Enterprises, LLC and the Walton Family Holdings Trust.
Who owns the most Walmart stock?
Walton Enterprises, LLC is the largest reported beneficial owner in Walmart’s 2026 proxy, with 44.11% beneficial ownership as of April 10, 2026.
Is Walmart owned by the Walton family?
The Walton family has a major ownership position in Walmart, but Walmart is not privately owned by the family. It is a publicly traded corporation.
Does the Walton family control Walmart?
The Walton family has substantial influence through its large shareholding and voting arrangements. Walton Enterprises also holds voting power over shares owned by the Walton Family Holdings Trust through an irrevocable proxy.
Who is the CEO of Walmart in 2026?
John Furner is Walmart’s President and CEO. He succeeded Doug McMillon on February 1, 2026.
Who founded Walmart?
Sam Walton founded the first Walmart store in Rogers, Arkansas, on July 2, 1962.
When did Walmart become a public company?
Walmart became publicly traded in 1970.
Is Walmart listed on the NYSE?
Yes. Walmart trades on the New York Stock Exchange under the ticker WMT.
Does Walmart own Sam’s Club?
Yes. Sam’s Club U.S. is one of Walmart Inc.’s three reportable business segments.
How many Walmart locations are there worldwide?
Walmart reported 10,955 retail units worldwide as of the relevant reporting dates around January 31, 2026.
How much revenue did Walmart report in fiscal 2026?
Walmart reported $713.2 billion in total revenue for fiscal 2026, which ended January 31, 2026.
Sources and Further Reading
For current ownership information, Walmart’s SEC filings and official investor disclosures are more reliable than older third-party ownership articles. The most important document for the figures discussed above is Walmart’s 2026 Definitive Proxy Statement, which provides the company’s ownership disclosures as of April 10, 2026.
Walmart’s 2026 Annual Report provides additional information about the company’s business, revenue, operating segments and global retail footprint.
