H-E-B’s Charles Butt family was named the 23rd wealthiest in the U.S. by Forbes magazine, tying with oil-moguls the Rockefellers.
The magazine, which published the list on Wednesday, estimates the Butt fortune to be $11 billion. No. 1 on the list was the Walton family who own the national chain Wal-Mart and are estimated to have a fortune of $130 billion.
The first H-E-B grocery store was opened in 1905 by Florence Butt after her husband was diagnosed with tuberculosis. Charles Butt took over the company in 1971 and is the majority shareholder though he and four other family members hold the fortune. He shares it with his sister Eleanor Butt Crook, his brother Howard Butt Jr. and his two nephews Howard Butt III and Stephen Butt.
Earlier in June, Charles Butt was ranked at No. 19 on Glassdoor’s list of top-rated CEOs of a large company in the U.S.