Charles Butt

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 (age 86)
NationalityAmerican
EducationUniversity of Pennsylvania
Harvard University
TitleChairman and CEO, H-E-B
Term1971–
Parent(s)Howard Edward Butt Sr.
Mary Elizabeth Holdsworth

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 400 stores and $38.9 billion in sales, according to Forbes.[1]

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-B in 1905.[2]

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

Career

Butt became chairman, CEO, and president of the H-E-B Grocery Company in 1971.[4][2]

In late 2019, Butt and his family had a net worth of over US$10 billion, according to Forbes.[2]

Awards and recognition

In 2013, AdvisoryCloud ranked Butt as the No. 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 January 2017, he pledged $100 million to Texas public education and created The Holdsworth Center, named after his mother Mary Elizabeth Butt (née Holdsworth).[8][9]

In September 2017, Butt donated $5 million to J. J. Watt's Houston Hurricane Harvey relief fund.[10][11]

As of May 2018, Butt pledges to The Giving Pledge and writes in his release that he intends to help children and teachers.[12]

In March 2024, Butt donated $500,000 to the State of Texas Agricultural Relief (STAR) Fund to aid Texas farmers, ranchers, and other agricultural businesses affected by the wildfires there.[13]

Personal life

Butt is single.[2] 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.[14]

Butt frequently donates to political campaigns, primarily those of Republicans but has donated to various Democratic campaigns as well.[15]

References

  1. ^ "H-E-B". Forbes. Retrieved May 26, 2021.
  2. ^ a b c d "Forbes profile: Charles Butt". Forbes. Retrieved November 29, 2019.
  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. ^ Pollock, Cassandra (January 17, 2017). "H-E-B CEO Charles Butt pledges $100 million to public schools nonprofit". The Texas Tribune. Retrieved March 24, 2021.
  9. ^ "About". The Holdsworth Center. Retrieved April 23, 2021.
  10. ^ "Texas supermarket chain HEB donates $5 million to J.J. Watt's hurricane relief fund". usatoday.com. Retrieved September 6, 2017.
  11. ^ 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.
  12. ^ "Charles Butt". Giving Pledge. Retrieved January 15, 2019.
  13. ^ "Charles Butt and H-E-B commit $1 million to support recovery efforts as wildfires rage in Texas Panhandle".
  14. ^ "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.
  15. ^ A 501tax-exempt; Street, charitable organization 1100 13th; NW; Washington, Suite 800; Dc 20005857-0044. "Donor Lookup". OpenSecrets. Retrieved April 26, 2023.{{cite web}}: CS1 maint: numeric names: authors list (link)