Walmart Heir Jim Walton Gives Away $1.2 Billion of His Fortune

(Bloomberg) -- Jim Walton, the youngest son of Walmart Inc. founder Sam Walton, donated $1.2 billion of the retailer’s stock last week.

Walton made the charitable gift of 11.2 million shares on June 27, according to a regulatory filing. Another form shows that elder brother Rob Walton donated 135,000 shares -- worth $15 million -- the previous day.

The recipient wasn’t disclosed, but family members have regularly donated to the Walton Family Foundation, whose causes include education and the environment. The foundation awarded more than $595 million in grants in 2018, according to its website, and had assets of $4.9 billion at the end of 2017.

A spokeswoman for the family didn’t immediately respond to an emailed request for comment.

Jim Walton’s 10-figure gift was dwarfed by news of Warren Buffett’s latest donation of Berkshire Hathaway Inc. stock. The world’s fourth-richest man will give $3.6 billion worth of Berkshire shares to five foundations, including the Bill & Melinda Gates Foundation, the company said Monday.

To contact the reporter on this story: Tom Metcalf in London at tmetcalf7@bloomberg.net

To contact the editors responsible for this story: Pierre Paulden at ppaulden@bloomberg.net, Steven Crabill, Daniel Taub

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