The Wall Street Journal reports that Marc Lore, who runs Walmart’s e-commerce business in the US, has just acquired an 8,569-square-foot New York City penthouse in Manhattan’s Tribeca neighborhood for $43.79 million.
The apartment reportedly has “rustic wood beams, five bedrooms and its own private outdoor pool.” The building, which also is home to actress Jennifer Lawrence, has “a 71-foot indoor swimming pool, a children’s playroom, a roof terrace, a fitness center and a temperature controlled wine cellar. There is a parking lot beneath the building with electric charging stations.”
Lore is said to have bought the apartment through a limited liability company.
The Journal describes Lore as a “serial entrepreneur,” saying that he “founded Diapers.com in 2005, which he sold to Amazon in 2010 for $545 million. He also founded of Jet.com, an ecommerce site that was purchased by Walmart for about $3.3 billion in 2016. Since taking on the role of president and CEO of Walmart’s e-commerce division in 2016, Mr. Lore, 47, has spearheaded the acquisition of several companies, including clothing retailers Bonobos and ModCloth. He also launched an in-house startup incubator at the retail giant.”
The apartment reportedly has “rustic wood beams, five bedrooms and its own private outdoor pool.” The building, which also is home to actress Jennifer Lawrence, has “a 71-foot indoor swimming pool, a children’s playroom, a roof terrace, a fitness center and a temperature controlled wine cellar. There is a parking lot beneath the building with electric charging stations.”
Lore is said to have bought the apartment through a limited liability company.
The Journal describes Lore as a “serial entrepreneur,” saying that he “founded Diapers.com in 2005, which he sold to Amazon in 2010 for $545 million. He also founded of Jet.com, an ecommerce site that was purchased by Walmart for about $3.3 billion in 2016. Since taking on the role of president and CEO of Walmart’s e-commerce division in 2016, Mr. Lore, 47, has spearheaded the acquisition of several companies, including clothing retailers Bonobos and ModCloth. He also launched an in-house startup incubator at the retail giant.”
- KC's View:
-
I normally don’t report on these sorts of things, because I figure that people who have earned this sort of money ought to be able to spend it as they see fit; the apartment sounds great.
It’s just that when I read it, I thought about Sam Walton’s Ford F-150 Custom truck, which he bought new in 1979 and drove until he passed away in 1992 as one of the richest and most successful people in the country. (It’s now in the Walmart Museum, in Bentonville, Arkansas.) And I thought about how far Walmart has come and how much it has changed since those days.
Some would argue that Walmart has moved too far from its roots. Some would argue that it has moved to keep pace with competitors and stay relevant to shoppers. I just keep thinking that 443 Greenwich Street in New York City is a long way from 105 N. Main Street in Bentonville.
