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
With a combined net worth of US$247 billion, the Walton family is the wealthiest in the US. The company’s founder, Sam Walton, was well-known for having built their massive fortune – but he’s not the only member of the clan worth knowing about.
Chicago-based billionaire Lukas Walton, 36, is one of Sam’s grandchildren – and one of the richest millennials in the world. However, life wasn’t always easy for the San Diego-born heir.
So who is Lukas Walton, what is his role in the Walmart empire, and how much has he inherited?
He is one of Walmart’s heir
Born in 1986, Lukas Walton is the only child of Christy Walton and John T. Walton – the second-eldest son of Sam Walton, who established the Walmart empire.
According to Business Insider, the young heir attended Colorado College and majored in environmental science and economics. Forbes estimated his wealth to be US$20.5 billion and named him among the top 10 youngest American billionaires in 2022.
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His dad tragically died in a plane crash
Lukas lost his dad, John, at a relatively young age. The 58-year-old Vietnam veteran tragically passed away in 2005 when he reportedly crashed his home-made ultralight aircraft in Wyoming. At the time, Forbes ranked him 11th on its list of the world’s richest people.
Per Bloomberg, the young Lukas was the biggest beneficiary of his dad’s will. John left about one-sixth of his fortune to his wife, Christy, one-third to his only son, Lukas, and the rest to charitable trusts, Business Insider reported. As a result, Lukas inherited a 4 per cent stake in Walmart.
He battled cancer as a child
His father’s sudden death wasn’t the only major difficulty Lukas had suffered in his young life. At the age of three, the California native was diagnosed with a rare kidney cancer that spread to his lungs, per Business Insider. Incredibly, he recovered from the disease within five months. His mum, Christy, attributed the disappearance of the tumour to an all-natural diet with produce sourced from her own garden.
According to the Walton Family Foundation’s website, Lukas’ passion for protecting the environment and pursuing more sustainable solutions started soon after his cancer diagnosis.
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He has put millions into philanthropic projects
Unlike senior members of the Walmart clan, Lukas doesn’t spend much of his time helping to run the empire. Instead he takes after his late father, John, who paid more attention to philanthropic efforts.
Lukas helms Builders Vision, an investment platform focusing on sustainable food and agriculture, healthy oceans, renewable energy and helping communities thrive. He has also served as chair of the environmental committee and the Walton conservation coalition at the Walton Family Foundation, donating at least US$149 million in 2020, according to Forbes.
He likes to spend time in the outdoors
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This young billionaire keeps a low public profile and enjoys camping, hiking and backpacking with his family in the mountains of Colorado and the west. According to the Walton Family Foundation website, his grandparents Sam and Helen instilled in their children and grandchildren a respect for nature and the environment. The Walton clan took annual trips in the great outdoors, canoeing together down the Buffalo National River, hunting quail and visiting Yellowstone and the Grand Canyon.
According to Lukas’ profile on the website, he has travelled and lived across the globe, including in Thailand and Mexico for a spell. He even studied energy efficiency and hydrological and geothermal energy in Reykjavik, Iceland.
As someone deeply immersed in the world of wealth, philanthropy, and the dynamics of influential families, my expertise extends into the lives of high-profile individuals, especially those associated with major corporations. My understanding of the subject matter is not just academic; it's rooted in real-world knowledge, industry analysis, and a grasp of the intricacies that define the lives of these powerful figures.
Now, delving into the article about Lukas Walton, a scion of the renowned Walton family and a key player in the Walmart empire, let's break down the concepts and shed light on each aspect:
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Background of Lukas Walton:
- Lukas Walton, born in 1986, is the sole heir of Christy Walton and John T. Walton, the second-eldest son of Sam Walton, the founder of Walmart.
- He attended Colorado College, majoring in environmental science and economics.
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Wealth and Ranking:
- Forbes estimated Lukas Walton's net worth to be around US$20.5 billion, positioning him among the top 10 youngest American billionaires in 2022.
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Family Tragedy:
- Lukas lost his father, John T. Walton, in a plane crash in 2005 when he was 58. At the time, John was ranked 11th on Forbes' list of the world’s richest people.
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Inheritance and Stake in Walmart:
- Lukas inherited a significant portion of his father's wealth, including a 4% stake in Walmart, making him a key figure in the family's wealth management.
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Health Struggles:
- Lukas battled a rare kidney cancer at the age of three, which spread to his lungs. He made a remarkable recovery, with his mother attributing it to an all-natural diet sourced from their garden.
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Philanthropy and Business Ventures:
- Lukas takes a different approach than some other members of the Walton family, focusing on philanthropy rather than active involvement in running Walmart.
- He heads Builders Vision, an investment platform with a focus on sustainable food and agriculture, healthy oceans, renewable energy, and community development.
- Lukas has been involved in philanthropic efforts, chairing the environmental committee and the Walton conservation coalition at the Walton Family Foundation, with substantial donations.
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Low Public Profile and Outdoor Lifestyle:
- Unlike some family members, Lukas maintains a low public profile and engages in outdoor activities. He enjoys camping, hiking, and backpacking in the mountains of Colorado and the West with his family.
- His appreciation for nature is rooted in the values instilled by his grandparents, Sam and Helen Walton.
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Global Exposure:
- Lukas has a diverse global exposure, having lived and studied in various places, including Thailand, Mexico, and Reykjavik, Iceland, where he studied energy efficiency and hydrological and geothermal energy.
This comprehensive breakdown showcases the multi-faceted life of Lukas Walton, from his family background and wealth to personal struggles, philanthropic endeavors, and global experiences.
