Billionaire John Walton (58), son of Wal-Mart founder Sam Walton, was killed in a small plane crash at the Jackson Hole airport in Wyoming shortly after take-off at 12:20p.m. Mountain Standard Time.
The cause of the accident is still unknown.
According to a National Park Service spokesperson in Jackson Hole, Walton had been piloting a one-man ultra-light, experimental aircraft, which means the crash will not be investigated by the NTSB nor the FAA.
Walton acted as director for the more than 5,000 Wal-Mart stores around the world. He was also the chairman of True North Partners, a venture capital firm. He leaves behind his wife and one child.