$10 million gift from Doug and Shelley McMillon to university Innovation Studio

Walmart CEO Doug McMillon and his wife, Shelley, have announced a $10 million gift to the University of Arkansas, permanently securing the future of the McMillon Innovation Studio within the Sam M. Walton College of Business.

The donation, made through the McMillon Family Foundation, will establish two endowed funds: the McMillon Innovation Studio Endowed Fund to provide ongoing operational support, and the McMillon Innovation Studio Construction Fund to support the creation of a new home for the Studio.

“Supporting the Studio means supporting the next generation of innovators,” said Doug McMillon, a Walton College alumnus.

“I believe the students working here today will be the founders, thinkers, and problem-solvers we’ll all depend on tomorrow.”

The McMillons have been longtime champions of the Studio, which they helped launch in 2016 with an initial $2 million gift. Over the years, their philanthropy has been joined by support from Kelly and Steve Barnes, Claude and Don Harris, and Sunny Gosain.

Together, these donors have helped transform the Studio into a collaborative hub where students prototype ideas, tackle complex challenges, and prepare to lead in business and society.

Chancellor Charles Robinson praised the gift, calling it “extraordinary” and noting that it will empower generations of students to become innovators and problem-solvers across Arkansas and beyond.

Brent Williams, dean of the Walton College, added: “This generous gift from Doug and Shelley McMillon allows us to deepen our commitment to innovation and student success.”