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James Lawrence “Bud” Walton (December 20, 1921 – March 21, 1995) was the brother of Sam Walton and cofounder of Wal-Mart.

Born in 1921, Walton went to Hickman High School in Columbia, Missouri and to the Wentworth Military Academy in Lexington, Missouri. During World War II, he served as a Navy pilot. Like his brother, he went subsequently into the retail business working in the Ben Franklin Stores franchise system. His first store was opened in Versailles, Missouri. In 1962, he and Sam Walton co-founded Wal-Mart. He died on March 21, 1995 in Miami, Florida after surgery for an aneurysm.

Bud Walton had been married to Audrey Walton and they had two daughters, Ann Walton Kroenke, and Nancy Walton Laurie.

The Bud Walton Arena on the campus of the University of Arkansas is named after him.

He worked on a farm in his younger years.

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