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:
- Cancer
- Spine or Joint Replacements
- Transplants
- 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.
Conclusion
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.
