Charles Butt Net Worth, Career & Personal Life

Charles Butt Net Worth  $11.1 Billion

Mr. Butt is one of the world’s billionaires today, thanks to his inheritance of his family’s San Antonio–based H-E-B supermarket business in 1971.

This American businessman has been in charge of the privately held company for over forty years and has been overseeing its 300 stores and retail outlets.

According to a recent Forbes magazine report, H.E.B records over $20 billion in sales every year, making it known as one of the most prosperous businesses in the country.

Early Life: Childhood, Education

He was born Charles Clarence Butt in the United States of America on February 3, 1938. His parents were Mary Elizabeth Holdsworth and Howard Edward Butt Sr. He is a grandson of Florence Butt, the tycoon who founded H.E. Butt in 1905.

Upon completing his high school education, Charles enrolled at the University of Pennsylvania’s Wharton School from which he graduated with a bachelor’s degree. He later attended Harvard Business School for his MBA before joining his father’s company to start his career.

Professional Life: Business Career

Charles Butt is a businessman and heir to one of the most successful supermarket chains in the world. He became chairman, chief executive officer, and president of the H.E. Butt Grocery Company in the year 1971.

The HEB brand has expanded into a number of different varieties over the years, including the Central Market brand, which is a Whole Foods-inspired supermarket chain featuring a wide range of gourmet options, cooking classes, and a café as well, with live music performed on certain days of the week. All of these innovations of what a supermarket can be credited to Charles Butt, who has worked tirelessly since he inherited the business almost forty years ago.

Achievements: Awards and Recognition

Charles was ranked by AdvisoryCloud as the #5 chief executive officer on its Top Chief Executive List three years ago.

He is a recipient of the Aguila Azteca medal, awarded by the Mexican government in November 2001 for his business dealings and philanthropic involvement in Mexico.

Personal Life: Wife, Children, Private Interests

Mr. Butt is known for his passion for privacy. Not so much is known about him and his family in the media, and details of his businesses aren’t published as often as those of other businesspersons too.

This partially explains why he is largely absent in many publications dealing with business people within the United States.

The information available to our team at the moment of this writing says that Butt is single at the moment. In 2016, he and his family were excluded from the Forbes list of the world’s top billionaires.

This was coming after the top-rated magazine changed its methodology to exclude persons from families that share their fortunes.

Philanthropy

This business mogul, despite all his wealth and affluence, has always deemed it worthy to think of and connect with the underprivileged in society.

He has awarded a lot of his personal fortune to different philanthropic causes so far in his lifetime. Most remarkably, he donated the sum of $50 million to the Raising Texas Teachers scholarship endowment to support the training of Texas public school teachers.

In January 2017, he splashed a $100 million donation on Texas public education and helped establish The Holdsworth Center, named after his late mother Mary Elizabeth Butt (née Holdsworth).

Additionally, Butt gave $5 million to J. J. Watt’s Houston Hurricane Harvey relief fund in September 2017. He has signed The Giving Pledge, pledging to give away a bulk of his wealth to charity.

Charles Butt Net Worth: Salary, Income Sources, Assets, Investments

An American businessman who is best known for his association with the HEB supermarket chain located in Texas and northern Mexico as its owner, Charles Butt is entitled to a net worth of 11.1 billion dollars.

The size of his money bag speaks to the success his family built in the supermarket industry, and in the year 1971 after the passing of his father, he took over the family grocery and supermarket business.

The store’s name, HEB, comes from the initials of Howard E. Butt, the father of Charles Butt, whose father Florence Butt (Charles’s grandfather) founded the family grocery store.

Since its inception, the business has continued to expand beyond anybody’s guesses and has grown into one of the largest privately-held businesses in the United States of America – and the biggest in the state of Texas.

The HEB brand is known for its interesting pricing and customer service, as well as its remarkable donations to charity causes, consistently donating five percent of its revenue before taxes to charities in the country.