Alice Walton: From Billionaire Heiress to Visionary, A Journey Beyond Walmart Bridging Art and Community

Alice Louise Walton was born in Newport Arkansas on October 7th, 1949, and grew up in Bentonville where her father founded the Walmart empire. She is the youngest of four siblings including S.Robson Walton, Jim Walton, and John Walton, and is the only daughter of the retail giant.  

With her economics degree in hand, she embarked on her journey, as an equity analyst and fund manager. She founded an investment bank where she held the positions of president, chairwoman, and CEO.  

Alice Walton is recognized not for her expertise and business skills but also for her generous donations, towards supporting art programs as well as education and healthcare initiatives that aim to improve economic opportunities, for many.  

Alice Walton is making waves in fields; leading an investment bank and contributing to groundbreaking advancements in medicine; reshaping the perception of billionaires incrementally, with every dollar she invests or donates.  

Alice Louise Walton - Biography

Alice Walton - Early Life and Education 
Alice Walton - Career
Alice Walton - Personal Life
Alice Walton - Political Motivations
Alice Walton - Association with Art 
Alice Walton - Philanthropic Works
Alice Walton - Contribution to the Healthcare Sector
Alice Walton Awards
Alice Walton - Interesting Facts

Alice Walton - Early Life and Education 

Born to Sam and Helen Walton, Alice was raised with her three brothers in Bentonville, Arkansas. She completed her high school education in 1966 from Bentonville High School and went on to get her BA in economics from Trinity University. 

Alice Walton - Career

Alice started her career as an equity analyst and money manager for First Commerce Corporation. After which she went on to head the entire investment portfolio at Arvest Bank Group. She also had a brief stint as a broker for EF Hutton. Her actual career break came in 1988 when she founded the Llama Company, an investment bank. Sadly, the company folded in 1998 due to the bond market crash. 

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Alice Walton - Personal Life

Alice's personal life remains shrouded in mystery with information except, for what the tabloids have shared about her past marriage to a well-known investment banker, from Louisiana, which ended in divorce after just two and a half years. 

Regrettably, Alice’s past includes a series of car crashes—one of them turned fatal back, in 1983 when she lost control of her Jeep and veered into a ravine, to Acapulco resulting in a leg that required airlifting out of Mexico and multiple surgeries since then she continues to endure persistent leg pain.  

Again in April 1989, Alice struck and killed 50-year-old Oleta Hardin. But no charges were filed. In 2021, she was arrested for a DWI in Parker County, Texas. Unfortunately, the arresting officer was suspended and the DA let the statute of limitations for the charges to expire. 

Alice Walton - Political Motivations

Alice Walton was one of the largest individual contributors in the 2004 elections where she donated $2.6 million to the Conservation Progress for America Group. In 2012, she contributed over $200,000 to the Restore Our Future campaign, associated with Mitt Romney. In 2016, she donated $353,400 to the Hillary Victory Fund to support Hillary Clinton’s campaign. 

Alice Walton - Association with Art 

Alice is an avid lover of Art, and as stories go, she purchased a print of Picasso’s Blue Nude at only 10 years of age. In 1980 she purchased her first-ever artwork, two Winslow Homer watercolours. 

Following is the list of some pieces she purchased: 

• December 2004 - Collection of Daniel and Rita Fraad 
• 2005 - Aher Brown Durand’s Kindred Spirits for $35 million 
• 2009 - Norman Rockwell’s Rosie the Riveter for $4.9 million 

Some other artists' works she owns are: 

• Paintings by Winslow Homer and Edward Hopper 
• Portrait of George Washington by Charles Willson Peale 
• Smoker #9 by Tom Wesselmann 
• Georgia O’Keeffe 
• Mark Rothko 
• Kehinde Wiley 
• Titus Kaphar 

Alice’s love for art led to the Walton Family Foundation building the Crystal Bridges Museum of American Art. Built on 120 acres of Walton land, the museum opened its doors in 2011 and has had more than 13 million visitors as of 2024. Alice made sure that the museum was free for all, as she wanted to give people the opportunity to view art. 

Alice Walton - Philanthropic Works

The Walton family is associated with multiple philanthropic institutions, one of the biggest being the Alice L. Walton Foundation. Founded in 2017, the foundation has expanded into art, education, health, and the economy as well. The foundation has supported the following: 

• 2020 - The University of Central Arkansas $3 million received funding for its fine arts program 
• 2020 - The University of Arkansas for Medical Sciences received $1.28 million to provide healthy food for schools. 
• 2022 - Northwest Arkansas Food Bank received $3.5 million: $3 million for the construction of a food distribution center, and $500,000 for purchase and distribution of food. 

Another philanthropic association Alice formed was the Art Bridges Foundation. The foundation helps fund, collect, and transport exhibits, and create programs with different museums. The foundation also has a Fellows Program that helps people from underrepresented groups to work with their museum partners. 

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Alice Walton - Contribution to the Healthcare Sector

Alice Walton helped set up the Whole Health Institute in 2019. The main aim of the institution is to help the health system and communities gain access to holistic healthcare for all. In 2021, the institute promoted the building of a nonprofit medical school in Bentonville that would focus on allopathic medicine. 

The Alice L. Walton Foundation in 2021 partnered with the Cleveland Clinic to evaluate the entire healthcare system in Northwest Arkansas. Post the evaluation, the foundation and the Washington Regional Medical System had plans to create a nonprofit medical system that helped train doctors in fields such as neurology, oncology, and cardiology. 

Alice Walton Awards

• 2012 - Time magazine most influential people in the world 
• 2013 - Smithsonian Institution Archives of American Art Medal 
• 2018 - International Women’s Forum Hall of Fame inductee 
• 2020 - John Paul Getty Medal 

Alice Walton - Interesting Facts

• Alice Walton is one of the richest women in the world as per Forbes list at $94.2 billion. 
• She is a supporter of the Republican party and has donated millions. 
• She is a licensed pilot and has flown a plane herself for years.
• She is also a patron of the arts and has donated millions to museums.

FAQ

How many Waltons are billionaires?

The Walton billionaires are:

1. Rob Walton
2. Jim Walton
3. Alice Walton
4. Lukas Walton
5. Christy Walton
6. Ann Walton Kroenke
7. Nancy Walton Laurie

Who is the #1 richest family?

The Walton family is the #1 richest family.

How many times has Alice Walton been married?

Alice Walton has been married twice, but both marriages ended in divorce.