Charles Butt

Charles Clarence Butt (born February 3, 1938) is an American heir and billionaire. He inherited his family's San Antonio-based H-E-B supermarket chain in 1971. The privately held company has more than 300 stores and $20 billion in sales, according to Forbes.[2]

For the Australian businessman, see Charles Sinclair Butt. For the English judge and politician, see Charles Parker Butt.
Charles Butt
Born
Charles Clarence Butt

(1938-02-03) February 3, 1938
NationalityAmerican
EducationUniversity of Pennsylvania
Harvard University
Net worthUS$10.7 billion (November 2019)[1]
TitleChairman and CEO, H-E-B
Term1971-
Parent(s)Howard Edward Butt Sr.
Mary Elizabeth Holdsworth

Early life

Charles Clarence Butt was born on February 3, 1938, the son of Howard Edward Butt Sr. and Mary Elizabeth Holdsworth, and the grandson of Florence Butt, who founded H.E. Butt in 1905.[1]

Butt graduated from University of Pennsylvania's Wharton School with a bachelor's degree, where he joined the Sigma Chi Fraternity. He earned an MBA from Harvard Business School.[3]

Career

He became chairman, CEO and president of the H.E. Butt Grocery Company in 1971.[4][1]

Awards and recognition

In 2013, AdvisoryCloud ranked Butt as the #5 CEO on its Top Chief Executive List.[5]

In November 2001, the Mexican government awarded Butt the Aguila Azteca medal for his philanthropic involvement and business dealings in Mexico.[6]

Philanthropy

Butt pledged $50 million to the Raising Texas Teachers scholarship fund to support the training of Texas public school teachers.[7]

In September 2017, Butt donated $5 million to J. J. Watt's Houston Hurricane Harvey relief fund.[8][9]

As of May 2018, Butt pledges to The Giving Pledge and writes in his release that he intends to help children and teachers.[10]

Personal life

Butt is single.[1] Butt and his family were excluded from the annual Forbes list of the world's top billionaires beginning in 2016. The magazine changed its methodology to exclude individuals from families that share their fortunes.[11]

References
  1. "Forbes profile: Charles Butt". Forbes. Retrieved November 29, 2019.
  2. "HE Butt Grocery on the Forbes America's Largest Private Companies List". Forbes. October 2014.
  3. "H-E-B's Charles Butt family ties with Rockefellers on Forbes rich list". San Antonio Express-News. Retrieved January 23, 2018.
  4. "H-E-B Official Website - History Archived March 29, 2010, at the Wayback Machine" HEB.com. Retrieved on April 23, 2010.
  5. "2013 Top Private CEOs". April 23, 2019. Archived from the original on April 23, 2019. Retrieved April 18, 2020.
  6. "Charles Butt to receive honor from Mexican government". San Antonio Business Journal. November 14, 2001. Retrieved December 17, 2006.
  7. "HEB boss Charles Butt gives $50 million to train Texas teachers". www.bizjournals.com. Retrieved January 23, 2018.
  8. "Texas supermarket chain HEB donates $5 million to J.J. Watt's hurricane relief fund". usatoday.com. Retrieved September 6, 2017.
  9. Patton, Mary Claire (September 6, 2017). "H-E-B CEO donates $5 million to J.J. Watt's Houston Flood Relief Fund". ksat.com. Retrieved September 6, 2017.
  10. "Charles Butt". Giving Pledge. Retrieved January 15, 2019.
  11. "H-E-B's Charles Butt falls off Forbes billionaire rankings, but not because he isn't one". San Antonio Express-News. Retrieved January 23, 2018.
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