O'Malley's father, Edwin Joseph O'Malley, was politically connected. Walter, a University of Pennsylvania salutatorian, went on to obtain a Juris Doctor, and he used the combination of his family connections, his personal contacts, and both his educational and vocational skills to rise to prominence. First, he became an entrepreneur involved in public works contracting, and then he became an executive with the Dodgers. He progressed from being a team lawyer to being both the Dodgers' owner and president, and he eventually made the business decision to relocate the Dodgers franchise. Although he moved the franchise, O'Malley is known as a businessman whose major philosophy was stability through loyalty to and from his employees.