Sam Walton founded Walmart in 1969 and pioneered a low-cost business model focused on high sales volumes and lower profit margins per item. Under his leadership, Walmart grew rapidly from $105,000 in annual sales in its first year to $175,000 just three years later. Today, Walmart operates over 11,000 stores worldwide, employs over 2 million people, and remains the largest company in the world by revenue.