Charles Butt
$10.3B
Born
Feb 03, 1938
Age
87
Source of Wealth
Supermarkets
Residence
San Antonio, Texas
Citizenship
United States
Marital Status
Single
Children
0
Education
Bachelor of Arts/Science, University of Pennsylvania, The Wharton School
- Charles Butt is chairman of H-E-B, a Texas-based grocery chain with $45 billion in revenues.
- He started working for the family-owned business bagging groceries at age 8.
- Florence Butt, his grandmother, founded the company in 1905 after her husband was diagnosed with tuberculosis and was unable to work.
- Charles became chairman and CEO in 1971. He handed the CEO job to nephew Howard Butt III in 2021. Howard is also on the board of directors
- Sister Eleanor Butt Crook is on the board of directors, and nephew Stephen Butt is H-E-B's president of Shareholder Relations and its Central Market Division and a member of the board.
- H-E-B gives 5% of pretax profits to charity.
- H-E-B is one of the largest private employers in Texas, with 160,000 employees.
- In 2015, Charles implemented an employee stock ownership program that provides company stock ownership to over 100,000 employees of H-E-B.
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