Frugal and humble, Walton says he’s cheap. That’s how he describes himself. He still drives a beat up old pickup truck with his hunting dogs in the back.

He built the business into a partnership, divided amongst his family members.

“In addition to quality and service, we have to save the customer money. Every time Wal-Mart spends one dollar foolishly, it comes right out of our customers’ pockets. Every time we save them a dollar, that puts us one step ahead of the competition—which is where we always plan to be.”

“I learned a long time ago that exercising your ego in public is definitely not the way to build an effective organization. One person seeking glory doesn’t accomplish much.”

“I learned early on that one of the secrets to campus leadership was the simplest thing of all: speak to people coming down the sidewalk before they speak.”