Does Amazon Own Walmart In 2026? (All You Need to Know)

If you‘re like me, you probably shop regularly at both Amazon and Walmart for unbeatable prices and selection. But have you ever wondered what exactly is the relationship between the two giant retailers? With their discounted prices and huge product offerings, it begs the question – does Amazon actually own Walmart?

The quick answer is no. Amazon does not currently own or control Walmart or any of its subsidiaries. But their complex history and the future possibilities between them are fascinating.

In this comprehensive guide, we‘ll dive deep on questions like:

• Who really owns and operates Walmart?
• How do the core Amazon and Walmart business models differ?
• What key companies have they acquired to fuel growth?
• How do they compare in annual revenue, profits and more?
• Could Amazon ever realistically acquire Walmart down the line?

By the end, you‘ll have an insider perspective on the past, present and potential future relationship between retail juggernauts Amazon and Walmart. Let‘s get started!

Walmart Remains Fully Independent

First, let‘s clear up any misconception – Walmart is not owned by Amazon whatsoever.

Walmart Inc. owns and operates the entire Walmart and Sam‘s Club empire of over 10,500 stores globally. Founded in 1962 by Sam Walton, Walmart is headquartered in Bentonville, Arkansas and publicly traded on the New York Stock Exchange (NYSE: WMT).

While founder Sam Walton passed in 1992, the Walton family heirs still retain a majority stake in the now-$500 billion company. They oversee key decisions alongside a management team led by CEO Doug McMillon.

Some key facts about the Walmart empire today:

• Founded in 1962 in Rogers, AR by Sam Walton
• Incorporated as Walmart Inc. in 1969
• Headquarters in Bentonville, AR
• CEO: Doug McMillon (since 2014)
• Employs over 2.2 million associates worldwide
• Operates over 10,500 stores under 56 banners in 24 countries
• Generated $573 billion in revenue in FY2022

So while Walmart continues to operate independently, how does its underlying business model differ from Amazon?

Different Business Models, Different Strengths

Amazon and Walmart built retail empires from very different foundations.

Walmart started by constructing large physical discount stores offering everyday low prices on a huge array of merchandise from groceries to apparel to electronics and more. Its brick-and-mortar locations continue to account for ~90% of its sales today.

Comparatively, Amazon was born as an online bookseller in the early days of e-commerce. It then grew to become a global online marketplace connecting third-party sellers to buyers. Most of its sales still come from e-commerce rather than physical stores.

But there is some convergence happening…

Amazon has been opening more physical grocery, convenience and department stores in recent years. Yet these still represent only a tiny fraction compared to Walmart‘s over 5,000 US stores and clubs.

Similarly, Walmart has invested billions to expand its e-commerce business and improve its delivery logistics. But the lion‘s share of its sales still happen inside Walmart locations.

Each is venturing into the other‘s turf, but e-commerce remains Amazon‘s strength while Walmart rules physical retail. Next let‘s explore if Amazon has ever attempted to acquire Walmart.

Has Amazon Ever Attempted to Buy Walmart?

In short, no. Amazon has never attempted to acquire or merge with Walmart.

And most industry experts agree it‘s highly unlikely Amazon would ever seek to buy Walmart. Here are some of the key reasons why:

• Massive size and scale – With over $550 billion in annual revenue, Walmart remains considerably larger than Amazon in terms of overall sales. Trying to buy them would be daunting.

• Antitrust barriers – If proposed, the deal could prompt antitrust objections on the grounds of reduced competition. Combining the #1 and #3 largest retailers could be seen as anti-competitive.

• Exorbitant cost – Acquiring Walmart could be prohibitively expensive, even for cash-rich Amazon. Walmart‘s market valuation alone is nearly $400 billion.

• Business model differences – Integrating Walmart‘s focus on in-store sales with Amazon‘s e-commerce engine would present huge operational challenges.

Rather than chasing the complex acquisition of a retail giant like Walmart, Amazon has preferred smaller purchases that bring strategic assets aligned with its e-commerce and tech focus. Which brings us to…

Amazon‘s Major Acquisitions

While Walmart remains independent, Amazon has acquired a number of major companies to expand into new arenas:

Year	Company	Purchase Price	Significance
2017	Whole Foods Market	$13.7 billion	Gained footprint of 500+ grocery stores combined with Amazon‘s delivery network
2009	Zappos	$1.2 billion	Expanded further into online clothing/shoes sales
2018	PillPack	$753 million	Enters online pharmacy space with prescription delivery capabilities
2022	MGM Studios	$8.5 billion	Brings extensive film/TV catalog to boost Prime Video streaming

Key Amazon Acquisitions

Other Amazon acquisitions like Twitch, Kiva Systems, and Zoox have provided footholds in video gaming, logistics technology, and autonomous vehicles.

Each new acquisition brings strategic technologies, talent, patents, or customers that open up new markets for Amazon aligned with e-commerce and digital services.

Walmart‘s Major Acquisitions

Walmart has also made key acquisitions, primarily aimed at expanding its e-commerce capabilities:

Year	Company	Purchase Price	Significance
2016	Jet.com	$3.3 billion	Accelerates Walmart‘s e-commerce growth; Jet founder Marc Lore leads Walmart‘s U.S. e-commerce
2017	Bonobos	$310 million	Brings popular millennial menswear brand to boost online fashion credentials
2017	Parcel	Undisclosed	Logistics startup to strengthen Walmart‘s distribution and delivery
2017	ShoeBuy	$70 million	Leading online shoe retailer to complement acquisitions like Bonobos

Walmart‘s Recent Acquisitions

Other purchases like Flipkart in India and various warehouse robotics companies have also strengthened Walmart‘s e-commerce, delivery and logistics to better compete with Amazon.

But could Walmart one day become part of Amazon given their race for retail dominance?

How Do Amazon and Walmart Compare in Size?

Despite Amazon‘s recent gains, Walmart still maintains a solid revenue lead for now:

• Walmart FY2022 revenue: $573 billion
• Amazon FY2022 revenue: $502 billion

However, Amazon has grown at breakneck speed the past decade, while Walmart‘s growth has been steadier but slower:

2011 Revenue	2022 Revenue	Increase
Walmart: $418 billion	Walmart: $573 billion	+37%
Amazon: $48 billion	Amazon: $502 billion	+945%

Revenue Growth 2011-2022

At these trajectories, Amazon could realistically overtake Walmart in total revenue within the next 5 years.

Both companies are immensely profitable too – Walmart netted over $13 billion in 2022 versus Amazon‘s net income of $33 billion. They are formidable rivals in profitability and innovation in addition to overall sales.

Could Amazon Conceivably Acquire Walmart Down the Road?

Given the continued size advantage and differing business models, it remains very unlikely Amazon could realistically acquire Walmart in the near future.

But down the road, if Amazon sustains growth rates far outpacing Walmart‘s, an acquisition attempt could potentially be contemplated.

However, major barriers would still exist, including:

• Antitrust concerns – Regulators may still oppose a merger of the 1st and 2nd largest retailers as hampering competition.

• Cost challenges – Even at around $400 billion, acquiring Walmart could strain even Amazon‘s financial resources.

• Integration difficulties – Merging Walmart‘s offline and supply chain systems with Amazon‘s complex online operations could prove infeasible.

Still, Amazon has shown its willingness to disrupt new sectors like groceries, pharmacies, and healthcare. With Amazon‘s trajectory, the possibility of one day seeking to expand into Walmart‘s turf can‘t be fully ruled out long-term.

Perspectives on The Evolving Retail Rivalry

"Amazon has proven it will enter any market it believes can be made bigger and better. So Walmart can‘t ignore the possibility that Amazon could look to ever-bolder moves like acquiring Walmart itself down the line." – Mark Cohen, Director of Retail Studies at Columbia University Business School

"Amazon is strategic in acquiring companies that can expand its sources of revenue and data and integrate with its ecosystem. Buying Walmart could face antitrust challenges and be too unwieldy to integrate effectively." – Brittain Ladd, Retail/Supply Chain Consultant at PULSE Integration

"Walmart continues to have the advantage in physical store presence and grocery sales. Amazon still leads in cloud, streaming and e-commerce. Both seem focused on continuing to improve in their relative weak spots." – Kirthi Kalyanam, Director of the Retail Management Institute at the University of Santa Clara

The Road Ahead…

While an Amazon acquisition of Walmart appears unlikely short term, their battle for retail supremacy will continue. Each seeks to shore up weak spots like Walmart‘s e-commerce and Amazon‘s physical presence.

They will continue making strategic mergers, acquisitions, and infrastructure investments aimed at getting the edge over one another.

This intense retail rivalry should ultimately benefit us as consumers from more selection, price competition, and service innovations. And keep the retail industry on its toes evolving to meet our needs!

So while Amazon hasn‘t bought Walmart (yet), together they own unparalleled influence in diverse spheres of modern retail.

The Bottom Line

Amazon does not currently own or control Walmart or its subsidiaries. Both companies remain independently operated retail giants competing fiercely for market share across sectors from e-commerce to groceries.

By understanding their past trajectories, current positioning, and future possibilities, you now have an insider perspective on the nuances between retail leaders Amazon and Walmart!

Whichever retailer you personally prefer, we as consumers all win from their innovations and competitive one-upmanship. And we‘ll stay on the lookout if Amazon ever makes an unprecedented move to acquire America‘s largest retailer.