Everyone knows that Walmart is a big company, but not many people understand just how vast it really is. In addition to being the largest company in the world by revenue with over $548 billion in 2020, it is the largest private employer in the world with over 2.2 million employees. Walmart stores have a total floor space of about 105 square kilometers, larger than the city of Copenhagen.

Walmart was founded in 1950 in Bentonville, Arkansas, a city closely tied to the fortunes of the retail giant and where the headquarters remain. Sam Walton bought a small shop in the city and differentiated himself by selling goods at the lowest price possible. Today, his family still retain majority control of Walmart, and are collectively the richest family in the US with a 2020 net worth of over $200 billion.

The ascent of the company since its 1950 founding has been meteoric, expanding from a regional chain in the 1960s to national prominence over the 1970s and 1980s. Walmart pioneered the model of vast out of town superstores, a trend which dominated the American retail marketplace until the 2000s. The logistics operation, and immense power of their buying department, mean this remains one of the cheapest and the most popular stores in the US. Walmart’s growing eCommerce division sees it in direct competition with Amazon for this invaluable market.

By far the largest market for Walmart is the US, although it operates in more than 20 countries. Walmart once had total control over the major British supermarket ASDA, which it partly exited in 2009, while still maintaining a legacy stake. International expansion is often seen as the one thing Walmart can’t do well – its piecemeal presence in India, and vacillation over European expansion both facing criticism from analysts. Walmart’s failed foray into Germany between 1997 and 2006 incurred enormous losses and soured management’s view on the European market. On the other hand, Walmart’s successful Mexican subsidiary operates over 2,600 stores and is the largest retailer in Latin America.

Walmart’s 1970 IPO at $16.50 per share would have been one of the best-performing investments possible, especially when factoring in eleven stock splits and Walmart’s significant dividend. Though the shares are publicly traded and attract as part of both the S&P500 and Dow Jones Industrial Average indices, the Walton family’s investment vehicle and foundation are by far the largest shareholders, followed by the Vanguard group.