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Walmart Inc. ( /ˈwɔːlmɑːrt/; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquartered in Bentonville, Arkansas.[10] The company was founded by Sam Walton in nearby Rogers, Arkansas in 1962 and incorporated under Delaware General Corporation Law on October 31, 1969. It also owns and operates Sam's Club retail warehouses.
Walmart is the world's largest company by revenue, with about US$570 billion in annual revenue, according to the Fortune Global 500 list in May 2022. It is also the largest private employer in the world with 2.2 million employees. It is a publicly traded family-owned business, as the company is controlled by the Walton family. Sam Walton's heirs own over 50 percent of Walmart through both their holding company Walton Enterprises and their individual holdings.[14] Walmart was the largest United States grocery retailer in 2019, and 65 percent of Walmart's US$510.329 billion sales came from U.S. operations.[15][16]