<p>Wal-Mart heir John T. Walton, who threw his considerable financial support behind efforts to educate low-income children, has died while at the controls of a homemade, experimental aircraft. Wal-Mart is No. 29 on The DiversityInc Top 50 Companies for Diversity list.</p>
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<p>Not to be disrespectful to the man who may have been a great person and philanthropist, but based on the information included in this article, I question the lead sentence. If he contributed $67 million out of $18.2 billion, that is only .3% of his net worth. Not a heck of a lot and hardly enough to characterize him as someone who, “threw his considerable financial support behind efforts to educate low-income children.” Maybe the story was just poorly written and didn’t capture the full extent of his generosity.</p>
<p>$67 million is still “considerable financial support” regardless of how much money he had altogether. It’s one heck of a lot more than I would be able to donate!</p>
<p>As is the case with most people who own companies that turn them into billionaires, it’s not a liquid asset, at least not to that level…there’s no bank vault where they could take you to show you their stacks of billions.</p>
<p>His Special Forces history is even more interesting than most of the obits are saying. He was a MACV-SOG recon man, a member of one of the six-man teams that were dropped into the hottest areas, including across the border (Cambodia and Laos) to monitor and interdict the Ho Chi Minh trail.</p>
<p>I believe that the article missed the mark. It is obvious that a family can transfer STOCK to a foundation without having to liquidate the assets. I believe that the current richest families in America are planning to make huge donations towards education. Only to name a few, Bill Gates and Michael Dell have spent considerable sums. I also believe that Warren Buffett is planning to donate his entire estate. </p>
<p>In the case of the Waltons, one issue that may have hindered larger donations is that the programs they support are controversial and OPPOSED by large and powerful lobbies that have NOT been shy to publicly deride comments made by Steve Jobs or Bill Gates to reform education. While the money is welcome, their “new” ideas are not. The only good news is that the current generation of unionized dinosaurs gets older and will some day vanish. </p>
<p><a href=“http://www.usatoday.com/money/companies/2004-03-11-waltons_x.htm[/url]”>http://www.usatoday.com/money/companies/2004-03-11-waltons_x.htm</a></p>
<p>Wal-Mart heirs pour riches into education reform
By Jim Hopkins, USA TODAY</p>
<p>Wal-Mart’s founders transformed U.S. business. Now they are taking on a very different subject: the nation’s public schools. The Waltons the USA’s richest family have quietly become top philanthropists in education reform, including controversial charter-school and school-voucher causes.</p>
<p>They have donated at least $701 million to education charities since 1998. (Flash graphic: Wal-Mart execs’ philanthropy)</p>
<p>That pales beside the $1.05 billion given to education by the Bill & Melinda Gates Foundation. But the Waltons’ giving could soar to as much as $1 billion a year as they shift more riches to charity. How much more? John Walton, one of founder Sam Walton’s four children, says the family expects to donate as much as 20% of its $100 billion in Wal-Mart stock.</p>
<p>Yea Xiggi. That’s right.</p>
<p>Steve Jobs, Bill Gates, and the Wal-Mart people are babes in the woods oppressed by those all-powerful teachers unions who own presidents and control Congress. </p>
<p>To quote my favorite sweathog: “I’m sooooo confused.”</p>
<p>If NEA owned congress and the President…such a dream…If Wal Mart cared about kids it would give its workers a living wage and decent health benefits. It reminds me of Rockerfella giving away dimes to undo his bad public image caused byhis ordering his thugs into machine gunning the tents of workers and their families. I’ll look elsewhere for heros. </p>
<p>My condolences to his widow and friends.</p>
<p>Thank you, Mr. B. I think it’s an oxymoron from people such as tsdad to think that the NEA owned Congress and the President. We have the No Child Left Behind Act that the NEA and other states in the union OPPOSES! AARP owns Congress! (they are the single-largest lobbying group in Washington D.C. – hence why social security and prescription drugs are such highlighted issues!)</p>
<p>I always wonder, being the nut I am, about these plane accidents. Sometimes, they are convienent. And Mr B, you are right.</p>
<p>And FundingFather, we actually agree on something!!! </p>
<p>It was could he was giving away scholarships, but with so much money, and to give such a relatively small amount compared to his worth, it often looks more for p.r. than for real altruism, but I could be wrong.</p>
<p>And, take care of your employees as well. </p>
<p>I am sad for the family, as well.</p>
<p>
See, we agree on more than one thing. JUST KIDDING - couldn’t resist.</p>
<p>Well, I agree that the plane accident is convenient - someone just made an almost incomprehensible amount of money - money which may not have been there otherwise: “How much more? John Walton, one of founder Sam Walton’s four children, says the family expects to donate as much as 20% of its $100 billion in Wal-Mart stock.” (From Xiggi’s article)</p>
<p>Out of respect for the man and his family, why don’t we delay discussion of his finances for awhile. He was a husband and father and very involved in the Jackson Hole community and school system. My daughter Lindsey is hurting for a friend and classmate.</p>
<p>Thanks bandit, I really couldn’t believe parents were writing this. A fellow human being has tragically died.</p>
<p>As someone familiar with the area, I am 99.99% sure this is pilot error. I know he was described as an “experienced pilot,” but Jackson is notorious for unchartable wind conditions, microbursts, sudden squalls of virga, wind shear, invisible vortices. There have been many, many small craft accidents from that airport (including some people I know) that were completely unpredictable. To fly in an ultralight there, IMO is suicidal.</p>
<p>Okay ream away, but to do something that stupid…</p>
<p>I have told my husband (er suggested) that he not sky dive, learn to fly, anything like that until our kids are over 18. Sure you can get hurt many other ways, but our family is more important than any thing like that.</p>
<p>SO call me mean, I would be furious with my husband if he insisted on doing something that put him in danger on purpose.</p>
<p>Forget his fortune or contributions. I get the impression he was pretty quiet and subdued about his money. He worked as a cropduster for awhile. What we should honor and remember is his Silver Star - these aren’t given out like prizes in a Crackerjack Box. He risked his life to save a number of his comrades. That alone should earn our respect and condolences.</p>
<p>“Money can’t save you, no no no, money can’t save you, no no no
Only truth and right justice can”</p>
<p>(Peter Tosh)</p>
<p>My first reaction to this news was that it is one more proof of the truism “You know not the day nor the hour.” The Grim Reaper is entirely impersonal, and the bell tolls for thee. Next reaction was “gee, I really better do that will and stop procrastinating.”</p>
<p>Wyogal… as someone with a “once only” experience flying in an ultralight, I have to agree with you. There is no margin for error – it is one of those potentially dangerous sports like hang-gliding or base jumping where sooner or later, someone’s going to get killed.</p>
<p>You people are awful and completely disrespectful. </p>
<p>He was a father. His son, my peer, graduated from high school this month and will leave the valley where he grew up and head off to college in the fall without a father. </p>
<p>For a day, forget his politics and his money. What happened is nothing more than a tragedy. Take a day off from being so judgmental and send your thoughts and prayers to his family, who are heartbroken. It is a very dark time for our valley. Have some compassion.</p>
<p>The dad was flying a home made experimental airplane. It was HIS choice to take chances like that with a family. I mean, where was his compassion for HIS family when he took such chances, for the fun of it? A tragedy is something that happens over which you have little control.</p>
<p>Many men and women do things like fight fires, become police officers, go to war, drive trucks, and die doing something nobel. An accident is one thing, doing something foolish for your own pleasure is something very different. </p>
<p>I am sorry for the son, believe me, but the arrogance people show in doing whatever for their own joy, even if it is dangerous, and with a good chance of getting hurt, well, I am more angry for the selfishness than anything else.</p>
<p>My H plays soccer for fun, my uncle fishes, and as I said, I told my H nothing dangerous until kids are in college. His fun could wait a little longer.</p>
<p>I had a friend that wanted to sky dive for her 40th bday, she had a 15 year old D. I did whatever I could to talk her out of it. SHe is going to wait until she is 50, when D is 25. She can wait.</p>
<p>I have much compassion, but it does make me angry that people with minor children do fooilsh things. Where was the Dads brain in all this? He was thinking of himself.</p>
<p>Yes, it is awful for those left behind…they will live with this the rest of their lives, the son will go to college without a Dad, the mother is a widow</p>
<p>And as awful and disrespectful as this sounds, we adults make choices. We decide what chances we want to take. We know life can throw us bad luck and tragedy at any time. Our job is to do whatever we can, with what we have, to be there for our kids as long as we can.</p>
<p>As I stated, those that join the military to serve, who are peace officers, whose job is a dangerous one, who do what they need to do to take care of their children and country the best way they can, when they are in danger it is for others. When a road accident happens, someone gets sick, someone is killed by the hand of another, or by bad luck just doing day to day things, that is the worst.</p>
<p>When an adult making adult decisions does something dangerous for pleasure and dies as a result, I am just plain mad at them for deciding to do something that could leave behind loved ones. </p>
<p>You may see it as disrespectful, but I see it as selfish behavior from someone who has others to care for and who need them.</p>