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HEB Boss Pulls Away, By Far the Richest San Antonian

HEB Boss Pulls Away, By Far the Richest San Antonian

  The vast majority of Americans won't make $1.6 billion in an entire lifetime.  Charles Butt made that much in the past six months.

 

  Selling groceries has been very very good to the man who has broken away from the pack to become by far the richest San Antonian in the latest Forbes Magazine listing of the world's billionaires.

 

  1200 WOAI news reports Butt, the 76 year old President and CEO of HEB, is worth $10.1 billion, up from $8.5 billion just last September.

 

  Butt, who rarely appears in public but plays an active role in the management of the grocery store chain founded by his grandmother in Kerrville back in 1905, has seen his net worth skyrocket from $4 billion in 2009.

 

  HEB is closely held and not publically traded.  In fact, it is listed as one of the twenty largest privately held companies in the country.

 

  HEB owns 311 stores in Texas as well as outlets in Mexico.  It is also frequently held up as a good example of how a regional grocery store chain can compete successfully against mega companies like Wal-Mart, which are cutting into profits of other grocery companies.

 

  Also on the Forbes billionaires list, at $1.4 billion, is visionary San Antonio developer Christopher Goldsbury, whose company, Silver Ventures, redeveloped the Pearl Brewery and created the Lower Broadway area.

 

THE COMPLETE LIST:

 

http://www.forbes.com/billionaires/list/#tab:overall

 

 

  Goldsbury, 71, has one of the most interesting success stories on the list.  He parried Linda Pace, the daughter of the founder of Pace Picante Sauce, and eventually the couple purchased the business for $44 million.  When the Paces separated in 1987, Goldsbury purchased Linda's half of the company for $95 million.  He rode the growing salsa fad for seven years, and sold the company to Campbell Soup for $1.12 billion.

 

  Another familiar San Antonio face on the billionaires list is Red McCombs.  At 86, the automobile, oil, and radio magnate clocks in at $1.4 billion, a net worth which has remained fairly stable over the last decade.  McCombs is best known as the former owner of the Spurs and Minnesota Vikings and as a familiar presence around the city.

 

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