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.
This article was provided by Bloomberg News.