BillionaireNet
Teel
M
Rank #2451
UNITED STATESFashion & Retailsupermarkets

Michael Teel

Net Worth
$1.507B
0% (24h)
Michael Teel is the current chairman and owner of Raley's Supermarkets, a family-owned grocery chain based in West Sacramento, California. He is a third-generation owner, following in the footsteps of his grandfather, Thomas P. Raley, who founded the company in 1935. Teel's career has encompassed roles from store manager to CEO, and he now leads a company with over 235 locations across multiple states. With an estimated net worth of $1.5 billion, he has contributed to Raley's' growth while maintaining its commitment to quality and customer service.

The Full Dossier

Early Life

Michael Teel's journey began in the family business. He started learning the grocery industry early, working at Raley's stores from a young age. He has been involved in various departments, which equipped him with a comprehensive understanding of the business.

Rise to Success

After a period of working in different roles within Raley's, Teel became the CEO of Raley's. He took over the majority ownership of the company in mid-2015. Under his leadership, Raley's has focused on expanding its product offerings, including organic and natural foods, and enhancing customer service.

Key Business Strategies

Teel has overseen strategic initiatives such as the expansion of the company's offerings and the launch of customer loyalty programs. A major focus has been on adapting to changing consumer preferences by introducing more health-conscious products and sustainable practices. Raley's has also expanded its presence through acquisitions, growing the number of stores under its various banners.

Philanthropy

Raley's, under Michael Teel's leadership, has contributed to the community. The company has partnered with local organizations, focusing on addressing food insecurity and supporting local communities. Raley's has also been involved in fundraising efforts and providing support during crises, reflecting a commitment to social responsibility.

Career Timeline

2015

Majority Owner & Chairman

Became the majority owner and Chairman of Raley's.

1998

CEO

Appointed CEO of Raley's.

Philanthropic Impact

Food SecurityUndisclosed

Food For Families

Raley's established Food For Families in 1986, a non-profit organization that provides food for the needy.

Community SupportUndisclosed

Community Partnerships

Raley's partners with local organizations, focusing on addressing food insecurity and supporting local communities.

Wealth Trajectory