Jim C. Walton, the youngest son of Walmart Inc. founder Sam Walton, has donated shares of the retailer's stock valued at $1.2 billion, Bloomberg News reports.
According to a June 27 regulatory filing with the Securities and Exchange Commission, Walton made a charitable gift of 11.2 million shares. The recipient was undisclosed, but family members have regularly donated to the Walton Family Foundation, whose funding priorities include K-12 education, the environment, and its home region of northwest Arkansas and the Arkansas-Mississippi Delta region. Another SEC filing last week showed that Walton's older brother, Rob, donated 135,000 shares worth $15 million to an undisclosed recipient.
Jim Walton's donation reduces his net worth to just over $50 billion, according to the Bloomberg Billionaires Index.