Unit Two The richest Man in America Down Home Words and phrases Sam Walton, an American retailing executive, was born in 1918 in Oklahoma. After 17 years of operating franchise retail stores, he opened the first Wal-Mart Discount City in Arkansas, in 1962. Walt developed Wal-Mart into a chain of massive, centrally controlled stores that were typically sited in small towns and rural areas. The stores featured heavy discounting, smaller profit margins than usual coupled with higher-volume sales, and a customer-oriented staff Wal-Mart flourished went public in 1970 and by 199 1 had become a multibillion-dollar business and America' s largest retailer with 1, 700 stores. Walton, who stepped aside as ceo of the company in 1988 but remained active in its management, was by 1985 the wealthiest person in the United States. After his death, his widow Helen and four children are doing well on their own with a collective net worth of over s 100 billion, they are ranked 7 to 11 the Forbes Worlds Richest People in 2003 Book two English teaching plan of cuitBook two English teaching plan of cuit 3 Unit Two The Richest Man in America Down Home Words and Phrases Sam Walton， an American retailing executive, was born in 1918 in Oklahoma. After 17 years of operating franchise retail stores, he opened the first Wal-Mart Discount City in Arkansas, in 1962. Walton developed Wal-Mart into a chain of massive, centrally controlled stores that were typically sited in small towns and rural areas. The stores featured heavy discounting, smaller profit margins than usual coupled with higher-volume sales, and a customer-oriented staff. Wal-Mart flourished, went public in 1970 and by 1991 had become a multibillion-dollar business and America’s largest retailer with 1,700 stores. Walton, who stepped aside as CEO of the company in 1988 but remained active in its management, was by 1985 the wealthiest person in the United States. After his death, his widow Helen and four children are doing well on their own. With a collective net worth of over $ 100 billion, they are ranked 7 to 11 the Forbes World’s Richest People in 2003