In this success post, we are going to share the story of Charles Butt, an American businessman, best known for the HEB supermarket chain in Texas and northern Mexico, has a net worth of $12 billion.
His net worth speaks to the success his family had in the supermarket industry, and in 1971 he took over the family grocery store business. The store’s name comes from the initials of Howard E. Butt, son of the founder of the family grocery store. Since then, the business has continued to grow into one of the largest privately-held companies in America and the largest one in the state of Texas.
The HEB brand is known for its competitive pricing and customer service, as well as its commendable donations to charity, consistently donating 5% of its earnings before taxes to charities in the community.
The HEB brand had expanded into several different wide ranges over the years, including the Central Market brand, a Whole Foods Inspired supermarket chain featuring a wide range of gourmet options, cooking classes, and even a café with live music performed on certain nights of the week. All of these innovations of what a supermarket can be in some way credited to the Charles Butt.
Charles Butt Net Worth
Charles Butt has a net worth of $11 billion as of now, which makes him the 95th richest person in the world and the 36th in the US, as of now.