Steuart Walton

Steuart Walton
Born 1981
Bentonville, Arkansas, U.S.
Alma mater
Occupation
Parent(s)
Relatives

Steuart Walton is an American heir, attorney, pilot, businessman and philanthropist. Born into the billionaire Walton family, he is a director of Walmart, the world's largest company by revenue, co-founder of private equity firm RZC Investments, which bought British cycling brand Rapha in 2017, and founder of Game Composites, a composite aircraft manufacturer.

Early life

Steuart Walton was born in 1981 in Bentonville, Arkansas.[1][2][3] He is the son of Lynne McNabb and Jim Walton, a former director of Walmart.[1][2] His paternal grandfather, Sam Walton, was the founder of Walmart.[1][2]

Walton graduated from the University of Colorado Boulder with a degree in business administration.[4] He earned a law degree from the Georgetown University Law Center.[1][5]

Career

In 2004, Walton worked for Republican Senator Peter Fitzgerald.[4][6] He subsequently worked for a law firm in Santiago, Chile.[6] From 2007 to 2010, Walton was a lawyer at Allen & Overy.[1][4][5]

Afterward, Walton worked in Walmart's mergers and acquisitions division, as well as the company's Carnaby Street office in London.[7] He left Walmart in 2013 to found a company.[1] Walton, who is also a pilot, in 2013 founded Game Composites, a composite aircraft manufacturer in Northwest Arkansas, and serves as its chairman.[1][8][9]

Walton joined the board of Walmart on June 3, 2016.[2]

Walton and his brother, Tom Walton, co-founded an investment company, RZC Investments.[10] The company bought a majority stake of British bikewear business Rapha in August 2017,[10] in addition to investing in road-bike maker Allied Cycle Works.[11]

Philanthropy

Walton and his brother, Tom Walton, who are mountain biking enthusiasts, were influential in the Walton Family Foundation's US$15 million charitable contribution to establish the Razorback Regional Greenway in 2015.[12] In 2016, they also played a role in the foundation's US$20,000 donation for the expansion of a garden at the Samaritan Community Center in Bentonville.[13]

Walton helped Bentonville, Arkansas, become host city for the 2016 International Mountain Bicycling Association World Summit.[14] Also in 2016, Steuart and Tom Walton launched the Innovation Competition to focus on healthy living and strong downtowns in Benton County, Arkansas.[15]

Walton sits on the boards of directors of the Crystal Bridges Museum of American Art,[14] Smithsonian National Air and Space Museum, and Leadership for Educational Equity.[16]

Through their work with Crystal Bridges Museum of American Art, Steuart and Tom Walton oversaw a project renovating a 63,000-square-foot former Kraft cheese plant in Bentonville into "The Momentary," exhibit space for contemporary art, music, theater and film.[17][18]

Walton spoke at the 2016 Aspen Ideas Festival about the benefits of bike trails.[19]

In 2017, Walton and the Walton Family Foundation granted $787,000 to six Benton County cities to increase and diversify the region's tree canopy. The program allows the cities to plant large trees near trails, highways, parks, and other public places.[20]

Political activity

In 2012, Walton donated US$299,500 to Keep Dollars in Benton County, an organization that advocated for the successful effort to allow retailers to sell alcohol in Benton County, Arkansas.[21]

References

  1. 1 2 3 4 5 6 7 Nassauer, Sarah (April 20, 2016). "Wal-Mart Nominates Grandson of Founder for Its Board". The Wall Street Journal. Retrieved June 4, 2016.
  2. 1 2 3 4 Nassauer, Sarah (June 4, 2016). "Wal-Mart CEO Touts Tech, Tells Shareholders Momentum is 'Real'". The Wall Street Journal. Retrieved June 4, 2016.
  3. ↑ "Board". Leadership for Educational Equity. Retrieved June 4, 2016.
  4. 1 2 3 "2016 Proxy Statement". Walmart. 2016. p. 20. Retrieved 4 June 2018.
  5. 1 2 "Steuart Walton". Walmart. Retrieved June 4, 2016.
  6. 1 2 "Steuart Walton". Aspen Ideas Festival. Retrieved June 4, 2016.
  7. ↑ Leftly, Mark (January 29, 2012). "Walmart grandson plots Europe drive from Carnaby Street". The Independent. Retrieved June 4, 2016.
  8. ↑ "Steuart Walton". Walmart. Retrieved 26 March 2018.
  9. ↑ Brian Sozzi (3 June 2016). "Walmart elects one of Sam Walton's grandsons to board". TheStreet.com. Retrieved 13 November 2017.
  10. 1 2 Neate, Rupert (7 August 2017). "British cycling brand Rapha sold to Walmart heirs for £200m". The Guardian. Retrieved 13 November 2017.
  11. ↑ Tilin, Andrew (2 May 2018). "The Walmart Heirs Putting Arkansas on the Fat-Tire Map". Outside. Retrieved 10 May 2018.
  12. ↑ Nelson, Rex (15 October 2017). "Creating a sense of place". Arkansas Democrat-Gazette. Retrieved 13 November 2017.
  13. ↑ Neiswanger, Robbie (April 24, 2016). "Brothers nurture innovation". Arkansas Democrat-Gazette. Retrieved June 4, 2016.
  14. 1 2 Bahn, Chris (17 January 2016). "Walton initiative looks to inspire, improve Benton County downtowns". Arkansas Democrat-Gazette. Retrieved 13 November 2017.
  15. ↑ Souza, Kim (25 April 2016). "Walton Family Foundation helps four Northwest Arkansas nonprofits with innovation funding". Talk Business & Politics. Retrieved 13 November 2017.
  16. ↑ Schoppmeyer, Carin (20 August 2017). "Silver becomes gold". Arkansas Democrat-Gazette. Retrieved 4 June 2018. (Registration required (help)). Steuart Walton provided keynote remarks for the evening. Walton is the grandson of Helen and Walmart founder Sam Walton and serves on the boards of directors of the Walton Family Foundation, Crystal Bridges Museum of American Art, Walmart, Leadership for Educational Equity, and the Smithsonian National Air and Space Museum.
  17. ↑ Kennedy, Randy (29 March 2016). "Crystal Bridges Museum to open new space for contemporary art". The New York Times. Retrieved 13 November 2017.
  18. ↑ Peacock, Leslie Newell (30 August 2017). ""The Plant" becomes "The Momentary" in Bentonville". Arkansas Times. Retrieved 27 March 2018.
  19. ↑ Szewczyk, Collin (1 July 2016). "Hickenlooper: Goal is to make Colorado top trails state". Aspen Daily News. Retrieved 13 November 2017.
  20. ↑ "Walton Family Foundation announces funding for tree canopy project in Benton County". Talk Business & Politics. 5 October 2017. Retrieved 13 November 2017.
  21. ↑ Henry, Larry (November 1, 2012). "Tom, Steuart Walton Give $299,500 Each To Liquor Effort". 5NewsOnline.com. Retrieved June 4, 2016.
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