BillionaireNet
Butt
Charles Butt
Rank #302
UNITED STATESFashion & RetailSupermarkets

Charles Butt

Net Worth
$10.335B
0% (24h)
Charles Butt is the chairman of H-E-B, a Texas-based supermarket chain, and a prominent philanthropist with a current net worth of $10.3 billion. He inherited the family business, founded in 1905 by his grandmother, Florence Butt, and has overseen its expansion into a major regional player with over 400 stores in Texas and Mexico. His career at H-E-B began at age 8, and he became CEO in 1971. Butt is known for his commitment to community service and education, contributing significantly to various philanthropic causes, including the Raising Texas Teachers scholarship fund and The Holdsworth Center.

The Full Dossier

Early Life

Charles Clarence Butt was born on February 3, 1938, in San Antonio, Texas. He is the grandson of Florence Butt, who founded the H-E-B supermarket chain in 1905. Growing up in a close-knit family, Butt developed a strong work ethic early on by assisting in the family business. He graduated from the University of Pennsylvania's Wharton School and earned an MBA from Harvard Business School.

Rise to Success

Butt joined H-E-B in 1963 and quickly advanced through the ranks, becoming chairman, CEO, and president in 1971. Under his leadership, H-E-B has grown into a retail giant with over 400 stores and $38.9 billion in sales. He handed the CEO role to his nephew, Howard Butt III, in 2021, but remains the chairman. H-E-B is the largest privately-held employer in Texas.

Key Business Strategies

Butt's strategic vision has focused on innovation, customer service, and community involvement. He has spearheaded the development of new store concepts, a successful private-label program, and state-of-the-art digital services to enhance the customer experience. H-E-B is known for its commitment to quality, low prices, and strong relationships with its partners (employees).

Philanthropy

Charles Butt is a dedicated philanthropist, contributing significantly to various causes. He has donated to the San Antonio Food Bank and the Hurricane Harvey Relief Fund. He also established The Holdsworth Center and the Charles Butt Scholarship for Aspiring Teachers.

Career Timeline

2021

CEO transition

Handed the CEO role to his nephew, Howard Butt III.

2001

Aguila Azteca medal

Awarded the Aguila Azteca medal by the Mexican government for his philanthropic activities in Mexico.

1984

Chairman of H-E-B

Became chairman of the board of H-E-B.

1971

CEO of H-E-B

Became the CEO of H-E-B, succeeding his father.

Philanthropic Impact

Education$50M

Raising Texas Teachers

Provided funding to support the training of Texas public school teachers.

Education$100M

The Holdsworth Center

Established a non-profit leadership institute for Texas public school administrators.

EducationUnknown

The Charles Butt Scholarship for Aspiring Teachers

Provides annual funding for aspiring teachers.

Wealth Trajectory