⬅ # 310 Vinod Khosla|# 312 Steven Rales ➡

# 311 Charles Butt 

$9.08B

Real Time Net Worth
as of 12/12/2024

# 311 Charles Butt 

$9.08B

Real Time Net Worth
as of 12/12/2024
OccupationChair, H-E-B
Source of WealthSupermarkets
Age86
ResidenceSan Antonio, Texas
Marital StatusSingle
EducationBS, University of Pennsylvania, The Wharton School
Age-Adjusted Net Worth$1.56B
Charles Butt
Charles Butt
United States
Net worth: $9.08B

Self-Made Score 

Breitling Superocean Heritage II Automatic Chronometer 44 mm

Wealth History

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Biography

Overview

Charles Clarence Butt was born on February 3, 1938, in San Antonio, Texas, to Howard Edward Butt Sr. and Mary Elizabeth Holdsworth.
His grandmother, Florence Butt, founded H-E-B in 1905, driven by necessity after her husband's tuberculosis diagnosis left him unable to work.
Charles started working for the family-owned business at age 8, initially bagging groceries.
He graduated from the University of Pennsylvania's Wharton School with a bachelor's degree and later earned an MBA from Harvard Business School.
Charles became chairman, CEO, and president of the H-E-B Grocery Company in 1971.
In 2021, he handed over the CEO role to his nephew, Howard Butt III, who is also on the board of directors.
His sister, Eleanor Butt Crook, serves on the board, and his nephew, Stephen Butt, is the president of the Central Market division and a board member.
The Butt family, including Charles, owns an estimated 90% of H-E-B.

Career and Business

Charles Butt is the chairman of H-E-B, a Texas-based grocery chain with over 400 stores and $38.9 billion in annual sales.
Under his leadership, H-E-B's revenues have grown, reaching $39 billion.
He has been actively involved in the company since taking over as CEO in 1971.

Awards and Philanthropy

Charles Butt pledged $50 million to the Raising Texas Teachers scholarship fund, supporting the training of Texas public school teachers.
In January 2017, he pledged $100 million to Texas public education and established The Holdsworth Center.
He donated $5 million to J. J. Watt's Houston Hurricane Harvey relief fund in September 2017.
Charles is a signatory of The Giving Pledge, focusing on helping children and teachers.

Charles Butt's Wealth is Equivalent to:

6,987,683 Herman Miller Aeron Chairs

Herman Miller Aeron Chair

1,717,502 Gold Bars (50 gram)

24K Solid 50g Gold Ingot

92,769 Tiny Homes

Tiny House, Two Bedroom Solar Prefab Home

How long would it take you to become as rich as Charles Butt?

If you started with $10,000 and invested an additional $500 each month at a 43.53% CAGR, it would take you 5 years to reach Charles Butt's net worth of $9.08B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 63.87% compared to 28.04% for the S&P 500 benchmark.

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Charles Butt is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Charles Butt, Supermarkets is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Affiliate Disclosure: Some of the links on this page are affiliate links. This means that, at no additional cost to you, we may earn a commission if you click through and make a purchase. We only recommend products or services we believe will add value to our readers.

Edited by: Lee Bailey