'Walmart' Major Shareholder Walton Family Sells Off Hundreds of Millions in Shares... Former CEO Also Sells Small Amount

The Walton Family Holdings Trust, which owns more than a 10% stake in Walmart Inc. (WMT), sold and transferred several million shares through open-market transactions and internal trust transfers between May 22 and 28, raising roughly $300 million in cash (equivalent to several hundred billion Korean won).

Although the trust’s direct holdings dipped slightly, they still comfortably exceed 500 million shares, preserving its position as one of Walmart’s largest shareholders.

Over the same period, former CEO Doug McMillon sold a small block of shares valued at about $23 million (approximately 3 billion won) under a pre-arranged Rule 10b5-1 plan, while retaining his remaining direct and indirect holdings of several million shares.

In a broader push to diversify its energy mix, Walmart recently signed a 15-year power purchase agreement with Constellation Energy to supply low-carbon nuclear power to its Illinois facilities.

At the June 4, 2026 annual shareholders meeting, investors rejected a proposal calling for a standalone report on how artificial intelligence and automation affect employee welfare—underscoring continued backing for Walmart’s AI and automation expansion.

Headquartered in Bentonville, Arkansas, Walmart is the world’s largest retailer, generating approximately $713 billion in revenue for fiscal 2026 and employing over two million people globally.

Descendants of founder Sam Walton still control a substantial stake through the Walton Family Holdings Trust and related holding companies, and Doug McMillon—Walmart’s CEO from 2014 to 2026—is widely credited with spearheading its e-commerce and digital transformation.