Rank #2645
Michael Teel
Net worth $1.5B
supermarkets · United States
- Born
- May 15, 1951
- Age
- 74
- Source
- supermarkets
- Residence
- Sacramento, California
- Citizenship
- United States
- Marital status
- Married
- Children
- 0
- Education
- Bachelor of Arts/Science, Whittier College
Net worth over time
Biography
- Michael Teel is the owner and chairman of Raley's, a Sacramento-based supermarket chain with estimated revenues of $6 billion.
- He is the third-generation owner. His grandfather, Tom Raley, founded the company in 1935.
- He took over from his mother, Joyce Raley Teel (d. 2022), who ran Raley's from 1991 to 2015, when she transferred ownership to Michael.
- Today Raley's has 235 stores in California, Nevada, Arizona, Washington, Alaska and Oregon.
- The company also operates stores in several tribal nations in the Southwest.