Walmart CEO Maintains Stake Worth 700 Billion Won While Selling Shares Worth Billions

On April 23, C. Douglas McMillon, CEO of U.S. retail giant Walmart Inc. (WMT), sold approximately 19,000 shares of the company’s common stock on the open market at around $132 per share, cashing out roughly $2.57 million (about ₩3.3 billion). The transactions, which were executed in multiple tranches, were conducted under a pre-established Rule 10b5-1 trading plan. Even after this sale, McMillon continues to hold approximately $555 million (around ₩700 billion) worth of Walmart shares across family and trust accounts as well as his 401(k). On May 5 and 21, two senior vice presidents also disclosed share movements valued at several million dollars (tens of billions of KRW), reflecting RSU vesting tax withholdings and pre-planned open-market sales, while retaining most of their remaining holdings.

In its first-quarter earnings released on May 21, Walmart reported revenue of $177.8 billion, a 7.3% year-over-year increase, with e-commerce sales growing in the mid-20% range compared to the same period last year. The company forecast second-quarter revenue growth of 4% to 5% and emphasized automation and AI investments as core growth drivers, including its proprietary AI agent “Sparky,” which enhances order fulfillment, supply-chain operations, and advertising efficiency.

Walmart is one of the world’s largest retailers, employing around 2.1 million people globally and generating annual revenue of $713 billion (approximately ₩900 trillion). McMillon joined the company as a part-time associate in the 1980s and, after roles in the international division and Sam’s Club, was promoted to CEO in 2014. He has since led Walmart’s omnichannel strategy—integrating online and offline channels—and spearheaded significant investments in automation and artificial intelligence.