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The Richest in Real Estate Top 100

#5 Charles Butt

The Basics

Location: Austin/San Antonio | Net Worth: $10.70 B

Location: Austin/San Antonio | Net Worth: $10.70 B

Charles Butt

Charles Butt's grandmother, Florence, founded H-E-B grocery chain in 1905 when her husband could no longer work after a tuberculosis diagnosis. His father Howard took over the family business in the ‘20s and it was there that Charles began his career at eight years old, working as a bag boy. Howard expanded H-E-B throughout Texas before Charles took the reigns in 1971.

Today H-E-B has 316 stores in Texas and 52 stores in Mexico. The chain has over $15B in annual sales and 5% of the store’s pre-tax profits are donated to charity. H-E-B also has a Central Market gourmet and organic line inspired by Whole Foods. The brand has a variety of gourmet options, and offers cooking classes.

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