John T. Walton, the son of Wal-Mart founder Sam Walton and a member of Wal-Mart's Board of Directors, died on Monday when his small private plane crashed shortly after takeoff near his Wyoming home. He was 58 years old.
The home-made airplane weighed between 400 and 500 pounds and had a small aluminum body, cloth covered wings and a small engine according to a spokeswoman for Grand Teton National Park where the airplane went down. The crash occurred at approximately 12:20 PM Monday afternoon, local time.
The Federal Aviation Administration (FAA) has refused to get involved in the investigation of the crash because the plane was not a registered aircraft.
Walton was ranked 11th in 'Forbes' magazine's recent list of the world's richest people. His estimated net worth is $18.2 billion.
In addition to his many business interests, Walton served as a medic in the Army Green Berets during Vietnam and earned the Silver Star for helping to save the lives of members of his unit while under enemy fire according to a statement released by Wal-Mart.
Walton is survived by his mother, two brothers, a sister, his wife and son.
