In 1992, President George W. Bush Jr. rewarded Sam Walton with the Presidential Medal of Freedom, one of the nation’s top honors. “Sam Walton was an original American who represented the entrepreneurial spirit and epitomized The American dream,” said Mr. Bush.
The success story of Wal-Mart initiated with a humble beginning of a small grocery store with a small investment of 6000 dollars of personal savings by Sam and Helen, his wife, and money borrowed from family members which all together supported in the accomplishment of a giant Wal-Mart Supermarket chain of net worth over $ 320 billion.
Sam Walton (Full name Samuel Moore Walton) was born on March 29 in 1918 in Kingfisher, Oklahoma. His father, Tom, was a Farmer. From childhood only, Sam was a hard worker. In 1942, at the age of 24, he got the opportunity to serve in the military. He married Helen Robson in the year 1943. After retirement from service in 1945, Sam and Helen shifted to Iowa and then to Newport, Arkansas. By this time, Sam gained early retail experience, over time managing his variety store for 15 years in small towns.
The Wal-Mart opening was truly done on July 2, 1962, in Rogers, Arkansas. Forbes gave Sam Walton the ranking of the wealthiest person in the United States from 1982 to 1988. He died due to bone cancer in April 1992, by then he had 1,960 Wal-Mart stores, employed 380,000 people and observed annual sales of around $50 billion.