| Alice Walton | |
|---|---|
| Born | October 7, 1949 Newport, Arkansas |
| Net worth | US$18 billion |
Alice Louise Walton (born October 7, 1949 in Newport, Arkansas)[1] is an American heiress to the Wal-mart fortune. She is the daughter of Wal-Mart founder Sam Walton and Helen Walton, and sister of S. Robson Walton, and Jim Walton. Another brother, John T. Walton died in a 2005 plane crash. In 2009, her estimated net worth was US$18 billion, making her the richest woman in the world along with her sister-in-law Christy Walton.
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Education
Alice Walton graduated from Trinity University in San Antonio, Texas, with a B.A. in Economics and Finance.
Business
Alice Walton began her career in finance as an equity analyst and money manager for First Commerce Corporation; and later served as Vice Chairman and head of all investment-related activities at the Arvest Bank Group. In 1988, Ms. Walton founded Llama Company, an investment bank engaged in corporate finance, public and structured finance, real estate finance and sales and trading. She served as President, Chairman and CEO. For a time, she was a broker for E.F. Hutton. Ms. Walton was the first chairperson and driving force behind the Northwest Arkansas Council. This community development organization played a major role in securing the development of the Northwest Arkansas Regional Airport.
Ms. Walton arranged for, and provided, the initial seed capital to finance the construction of the airport. Her involvement was instrumental in the creation of the airport, and in recognition of her contribution to the airport project and her support of transportation improvements throughout the region, the Airport Authority Board of Directors named the airport terminal the Alice L. Walton Terminal Building. In 2001, Ms. Walton was inducted into the Arkansas Aviation Hall of Fame.
Walton was the twentieth largest individual contributor to 527 committees in the U.S. presidential election, 2004, donating US$2.6 million to the conservative Progress for America group.[2] During the 2004 election cycle, Progress for America ran advertisements supporting the Iraq war and praising George W. Bush for preventing "another 9/11".
Philanthropy
Alice Walton’s primary philanthropic activity is as a board member of the Walton Family Foundation, Ms. Walton has been active on the Board of the University of Arkansas for Medical Sciences at Little Rock and the Board of Advisors for the University of Arkansas Graduate Business School at Fayetteville.
In 1996, the University of Arkansas established the Alice L. Walton Chair in Finance, allowing the University, through its College of Business Administration, to pursue educational excellence on a national and international level. Ms. Walton's vision led to the creation of Camp War Eagle, a unique summer camp in Northwest Arkansas that brings together children of differing socio-economic backgrounds.
Art
Ms. Walton spearheads the Walton Family Foundation's involvement in developing Crystal Bridges - Museum of American Art. Crystal Bridges is envisioned as a premier venue for a national art institution dedicated to American art and artists, and a place of learning and community.
In 2005, Alice Walton purchased Asher Brown Durand's celebrated painting, Kindred Spirits, in a sealed-bid auction for a purported US$35 million dollars. The 1849 painting, a tribute to Hudson River School painter Thomas Cole, had been given to the New York Public Library in 1904 by Julia Bryant, the daughter of Romantic poet and New York newspaper publisher William Cullen Bryant (who is depicted in the painting with Cole).[2] Walton has also purchased works by American painters Winslow Homer and Edward Hopper, as well as a notable portrait of George Washington by Charles Willson Peale,[3] in preparation for the 2009 opening of the Crystal Bridges Museum of American Art in Bentonville, Arkansas.[4]
Ms Walton serves on the board of the Amon Carter Museum in Fort Worth, Texas and is a member of the Trustees' Council of the National Gallery of Art in Washington, DC.
Personal life
An avid horse-lover, Ms Walton currently lives in Mineral Wells, Texas on The Rocking W Ranch. In 1989, Walton had an automobile accident, she was speeding while intoxicated in Springdale, Arkansas, hitting a fifty-year-old mother of two, Oleta Hardin, who later died from her injuries; no charges or citations were issued to Walton. In 1996, Walton was cited for driving while intoxicated and fined US$925.
See also
References
- ^ http://hbswk.hbs.edu/item/2375.html
- ^ National Gallery
- ^ Alice Walton's Fig Leaf
- ^ Crystal Bridges website
Alice Walton's contributions to Crystal Bridges Museum
External links
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