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Learn more about the Walmart heir who made a winning — and record — bid for Colorado’s NFL team.
Rob Walton, the eldest son of Walmart founder, Sam Walton, is expected to buy the Denver Broncos for a record-high $4.65 billion.
The NFL team was valued at $3.75 billion last year, but a bidding war the raised the stakes — bringing it world’s away from Pat Bowlen’s purchase of the team for $78 million in 1984. After Bowlen’s passing in 2019, legal disputes among relatives led to the three-time Super Bowl champions being put up for sale. If finalized, it would make Walton’s bid the highest price paid for any NFL team since 2018 when David Tepper bought the Carolina Panthers for $2.275 billion. The ownership of the team would also include Walton’s daughter, Carrie, and son-in-law, Greg Penner.
At 77 years old, the eldest heir to the Walmart fortune, Rob Walton, has an estimated net worth of $57.9 billion and holds the ranking of 22nd richest person in the world.
The Walton siblings — Rob, Jim and Alice — have a combined net worth of around $212 billion, making them one of the wealthiest families in the world.
Related: Wal-Mart Heirs Again Top Forbes List of 25 Richest U.S. Families
The Walton-Penner ownership group includes Rob Walton, his daughter Carrie and her husband, Greg Penner, as well as Mellody Hobson — a co-CEO of Ariel Investments and the wife of film director and producer George Lucas. The group would have joint ownership of the Denver Broncos.
Although the Walton-Penner group has technically garnered the winning bid for the Broncos, the sale needs to be reviewed by the NFL’s finance committee and approved by a vote of NFL owners — 24 of 32 owners must vote in favor of the sale in order for it to be finalized. If no issues are raised, the deal could still take up to 90 days for approval.
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