Sam Walton (1918-1992) – Businessman & Entrepreneur
Sam Walton was the founder of the Wal-Mart and Sam’s Cub retail chains which are located throughout the United States, Mexico, Canada, Argentina, Brazil, South Korea, China, and Puerto Rico. Walton’s management style was popular with employees and some of his basic management concepts are still in use today. After taking the company public in 1970, Walton introduced his “profit-sharing plan,” which was a plan for Wal-Mart employees to improve their income, subject to the profitability of the store. Sam Walton believed that “individuals don’t win, teams do.” Employees at his stores were offered stock options and employee discounts. Upon his death in 1992, Walton was the second richest man in the world, behind Bill Gates.
We honor Mr. Walton because of his vision of what a great company can be, and his concern for his employees. He is clearly a Legacy Champ. If you want to be a Legacy Champ in your own special way, then contact The Mendel Law Firm, L.P., for a free initial consultation on estate planning, trust planning, and/or probate issues.