Alice Walton purchased her first artwork when she was just ten years old—a reproduction of Picasso’s Blue Nude from her father’s five-and-dime store for two dollars. Walton’s father, Sam Walton, went on to found Wal-Mart, and as Alice’s love for art grew, so did her budget. In 2005, she dropped $35 million to acquire Asher B. Durand’s Kindred Spirits (1849) from the New York Public Library, a purchase steeped in controversy. Many other controversial purchases have followed, and Walton has been accused of using her immense wealth to mine struggling institutions for significant works to fill the walls of her Crystal Bridges Museum of American Art. Kriston Capps, for example, wrote in the Guardian that “Walton collects art with the same disregard for fair practices and competition that Wal-Mart shows in the retail sector.” While this may be true, Crystal Bridges, which opened in 2011, is an undoubtedly philanthropic endeavor. Situated in the middle of Arkansas, it provides free access to the arts for a population that is both sizable and underserved by the art world. Walton herself, is as dismissive of critics of her art collecting as she is of critics of Wal-Mart. “I haven’t ever heard of anything that Wal-Mart hasn’t been blamed for,” she told the New Yorker in 2011.

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Alice Walton

Mineral Wells; Texas

Source of wealth:
Inheritance (Wal-Mart)

Collecting area:
American art; Contemporary art

Top 200 appearance:
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Fun fact:

In December 2004, during a Sotheby’s auction, Walton purchased over $20 million worth of art by phone in a single day—while sitting on a three-year-old gelding named IC LAD, preparing to compete in the first qualifying round of the National Cutting Horse Association Futurity at the Will Rogers Coliseum in Fort Worth, Texas.