#94

Charles Butt & family

$12.3 Billion
Age
:
77
Source
:
supermarkets
Gender
:
Male
Residence
:
San Antonio, TX
Marital Status
:
Single
Citizenship
:
United States
Education
:
Bachelor of Arts / Science, University of Pennsylvania Wharton School
Self Made Score
:
5
Description :

Charles has acquired the fortune through San Antonio based H-E-B supermarket network and inherited the clan's network in 1971, third generation grocer and is the major shareholder of the company. Butt has began sacking groceries in the family's store at his 8 years and now positions as the CEO and chairperson of the Texas grocery H-E-B, which has been developed into one of the world's private running company and has more than 300 outlets and $20 billion in sales, according to the Forbes estimation. The company has faced the revolution deeply in major regional retailer with important vertical integration in food processing. Florence Butt found the grocery in 1905, grandmother of Charles Butt. She could not continue with work as her husband suffered from Tuberculosis, soon her son Howard took over the power of the company in 1920 and developed throughout the Texas. Butt's two siblings and two nephews own the shares of company as well. Butt is graduation holder from the University of Pennsylvania's Wharton School. He yielded a MBA program from Harvard School of Business. In 2001, Butt has been rewarded with Aquila Azteca medal for his philanthropic achievements by the Mexican Government in Mexico.

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