Latest news with #TomWalton
Yahoo
08-05-2025
- Business
- Yahoo
Walmart heirs are creating STEM college and it will be located near the company's HQ
Two grandsons of Walmart founder Sam Walton plan to start their own STEM college near the company's headquarters, according to a report. Steuart and Tom Walton are expected to announce the launch of their private university Thursday at the Heartland Summit in Bentonville, Arkansas, where Walmart is headquartered, Axios reported. The yet-to-be-named college focusing on science, technology, engineering and math will have an inaugural class of roughly 500 students, 'growing to about 1,500 undergraduates and 500 non-degree learners over time,' the report said. 'The school will offer stackable, flexible credentials aligned with fast-moving, in-demand fields such as computing, technical management, automation and logistics, and biomedical technology,' the school's announcement said. Steuart Walton, who is also a member of Walmart's board, told Axios that education 'should move at the speed of innovation. This institution will stay agile and grounded, built to meet the world as it changes.' 'We have the opportunity to build a new model of higher education, designed for the realities of today's economy and the challenges of tomorrow, and set a new standard for what's possible," he added in a news release. His co-founder, Tom Walton, noted: 'Our granddad, Sam Walton, built Walmart from Bentonville. There's no reason the next great enterprise can't rise from here, too.' Steuart and Tom Walton said in 2022 that they would buy Walmart's old HQ and surrounding parcels for about $60 million. Earlier this year, Walmart opened a new headquarters in the same city. It sits on 350 acres and its cost has not been disclosed. A mixed-use development, which will include the new STEM school, is currently planned for the site. The STEM college is the latest philanthropic effort from the Walton family, who have invested in art museums, a medical school and other development projects in the region over the past 20 years.
The Independent
08-05-2025
- Business
- The Independent
Walmart heirs are creating STEM college and it will be located near the company's HQ
Two grandsons of Walmart founder Sam Walton plan to start their own STEM college near the company's headquarters, according to a report. Steuart and Tom Walton are expected to announce the launch of their private university Thursday at the Heartland Summit in Bentonville, Arkansas, where Walmart is headquartered, Axios reported. The yet-to-be-named college focusing on science, technology, engineering and math will have an inaugural class of roughly 500 students, 'growing to about 1,500 undergraduates and 500 non-degree learners over time,' the report said. 'The school will offer stackable, flexible credentials aligned with fast-moving, in-demand fields such as computing, technical management, automation and logistics, and biomedical technology,' the school's announcement said. Steuart Walton, who is also a member of Walmart's board, told Axios that education 'should move at the speed of innovation. This institution will stay agile and grounded, built to meet the world as it changes.' 'We have the opportunity to build a new model of higher education, designed for the realities of today's economy and the challenges of tomorrow, and set a new standard for what's possible," he added in a news release. His co-founder, Tom Walton, noted: 'Our granddad, Sam Walton, built Walmart from Bentonville. There's no reason the next great enterprise can't rise from here, too.' Steuart and Tom Walton said in 2022 that they would buy Walmart's old HQ and surrounding parcels for about $60 million. Earlier this year, Walmart opened a new headquarters in the same city. It sits on 350 acres and its cost has not been disclosed. A mixed-use development, which will include the new STEM school, is currently planned for the site. The STEM college is the latest philanthropic effort from the Walton family, who have invested in art museums, a medical school and other development projects in the region over the past 20 years.
Forbes
08-05-2025
- Business
- Forbes
Walton Heirs To Start A New STEM-Focused University In Arkansas
Steuart and Tom Walton, grandsons of Walmart founder Sam Walton, have announced plans to create a ... More new private university focused on STEM. Steuart and Tom Walton, grandsons of Walmart founder Sam Walton, have announced that members of their family are planning to create a new private university that will focus on offering a STEM (science, technology, engineering and math) curriculum. The future school would be located at the location of Walmart's former home office in Bentonville, Arkansas, according to Axios, which first broke the story today. It would be part of a mixed-use development planned for the site. Development of the new university will be guided by the advice of both local and national education experts. The institution, as of yet unnamed, would offer 'a modern, flexible, and accessible model that is both STEM-focused and business-infused,' according to the announcement. "Bentonville is the perfect place to spark catalytic change — a community rooted in innovation, entrepreneurship and bold thinking," Steuart Walton said, in a news release. "We have the opportunity to build a new model of higher education, designed for the realities of today's economy and the challenges of tomorrow, and set a new standard for what's possible." Tom Walton told Axios: "Our grandad, Sam Walton, built Walmart from Bentonville. There's no reason the next great enterprise can't rise from here, too." The new university would focus on building a skilled STEM workforce, concentrating on globally competitive areas such as automation, logistics, biotech and computing. It would grant stackable credentials in those areas, which could be combined with other degrees a student might earn. The school expects that its initial class, to be enrolled 'in the coming years,' will consist of about 500 students, with projections that total enrollment could eventually grow to about 1,500 undergraduates and 500 non-degree learners over time. Initial plans call for students' tuition to be fully covered in order to 'attract enterprising candidates with entrepreneurial spirit.' Today's announcement was made at the Heartland Summit being held this year in Bentonville. The Summit is an annual event organized by Heartland Forward, a non-profit policy think tank that aims to to stimulate economic growth in the central region of the United States. According to its website, Heartland Forward has a goal of generating $500 million of economic impact for the middle states by 2030 through a focus on four pillars: innovation and entrepreneurship, talent pipelines, health and wellness, and regional competitiveness. "Universities are among the most important knowledge assets for cities and states, shaping the economic prospects of their regions and the nation overall," said Ross DeVol, Chairman of the Board and CEO of Heartland Forward. Devol added that creating a new STEM-focused university in Bentonville would represent 'a bold step to strengthen our region's innovation capacity and deepen our workforce. By embedding technology transfer and commercialization into the very fabric of the institution, we can accelerate the movement of ideas from the lab to the marketplace, drive economic growth across the Heartland, and create new opportunities for entrepreneurs and industries of the future." Individual members of the Walton family and the Walton Family Foundation have been major donors to a number of higher education institutions over the years, including the University of Arkansas, the University of Missouri, Arizona State University, and the University of the Ozarks.
Axios
24-02-2025
- Business
- Axios
Bentonville lands Utah bike maker's satellite store
Direct-to-consumer bike maker Ari announced plans Thursday to open a satellite location in Bentonville. Why it matters: Northwest Arkansas continues to build on its reputation as a cycling destination to help diversify its economy. State of play: Ari, formerly known as Fezzari, was founded in Utah in 2005. The company claims its premium bikes cost 30-40% below normal retail and are "precision-tailored" to a rider's measurements. The company offers a complete lineup of road, mountain, cross-country and e-bikes. Runway Group, Steuart and Tom Walton's holding company, helped bring Ari to the region, a news release says. A spokesperson for Runway said it did not make an investment in Ari. The big picture: RZC Investments, an arm of Runway Group, has made investments in Allied Cycle Works of Rogers and Rapha of London, which operates its North American headquarters in Bentonville. Specialized bikes of California operates a retail store branded as an experience center, which is usually reserved for larger markets. What's next: Ari Bentonville will be located in the Midtown Lane building in downtown Bentonville. The company plans to open this summer.
