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Forbes: H-E-B owners among richest families in U.S.

H-E-B’s Charles Butt.jpg
Posted at 11:06 AM, Jan 27, 2021
and last updated 2021-01-27 12:06:35-05

The owners of beloved Texas grocery chain H-E-B are one of the richest families in the U.S., according to Forbes.

The Butt family fortune is worth an estimated $17.8 billion, landing them at #15 on the list of "Richest Families In America."

The Butt family owns the H-E-B grocery store chain, which started in 1905 when Florence Butt opened a small grocery store with just $60.

H-E-B’s Charles Butt was named a top CEO in Glassdoor’s Top CEO list for 2019. The Chairman and CEO ranked second out of 100 chief executives from across the nation.

The Walton family, owners of Walmart, grabbed the top spot on the list with an estimated worth of $247 billion. The Koch family, the Mars family and the S.C. Johnson Family were among the top 10.

The Butt family's wealth has increased, as their worth in 2016 was estimated at $11 billion, according to Forbes.

The 50 families on Forbes’ latest list of America’s Richest Families are worth a collective $1.2 trillion which is up about 30% from $916 billion in 2015.

To value their fortunes, Forbes added up the family assets, including stakes in public and private companies, real estate, art and cash, and took into account estimates of debt. Forbes said they attempted to vet the numbers with all the families or their representatives and while some cooperated, others didn’t.

To view the list, click here.