Joyce and George Redden borrowed $700 from an insurance policy and gathered up money in savings to in 1971 place a bet on an upstart company. At the time, the Reddens had more faith in their friend Claude Harris. They didn’t know that much about Harris’ boss, Sam Walton.
“We were a young couple in 1970 when Wal-Mart stock went public shortly after our good friend Claude Harris (part owner in a local Ben Franklin store) told us about young company’s growth potential. We lived in Springdale at the time and occasionally shopped the Wal-Mart there (Store No. 3) but didn’t really have the money to buy the stock,” Joyce Redden said.
At the time Wal-Mart stock was trading at roughly $18 a share. Click here to read the full story from our partners at TheCityWire.com.
