Founder of Walmart, which he established in 1962 as a general-merchandise retailer. Described as a trucker-capped, pickup-driving penny-pincher. His business model was based on a flywheel: keep costs low, pass savings to customers, win market share and harness scale to further lower costs. Over time he added groceries and opened vast supercentres. When computers began to transform business in the late 1960s, Walton signed up to a computer class at IBM. Shortly after, Walmart set up the largest private-satellite system in the country to connect its stores.
Churchill's Commentary on Man: Man will occasionally stumble over the truth, but most of the time he will pick himself up and continue on.