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 email@example.com
To contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, Steven Crabill, Daniel Taub
©2019 Bloomberg L.P.