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Purpose and benefits

Samuel Moore Walton created a retail empire after the fashion of the great Frank Woolworth. Having sampled the retail business courtesy of JCPenney, Walton opened a Ben Franklin store with $25,000 Walton opened the first Wal-Mart in 1962 and the second in 1964. By 1987 there were over 1,000. At the time of his death in 1992, Walton had made millions from his retail business and so had many of his shareholders.