Lukas Walton, grandson of Walmart founder Sam Walton, and his wife Samantha have acquired a minority stake in the Chicago Bulls and the United Center, the team announced Friday.
The transaction involves the purchase of existing stakes from current owners, marking a new entry for the Walton family into professional sports ownership.
The move adds to the growing trend of billionaire investors diversifying into high-profile entertainment and sports assets.
While the financial terms were not disclosed, the acquisition signals continued interest from ultra-high-net-worth individuals in stable, cash-generating franchise models.
The Waltons are residents of Chicago, aligning their investment with their local presence.
This development occurs against a backdrop of increasing concentration of media and sports ownership among wealthy investors.