The 10 Richest People In The Grocery Sector | ESM Magazine (2024)

It is not an exaggeration to say that the last 12 months have been a rollercoaster ride for the grocery sector.

The war in Ukraine, high inflation, supply chain issues, Brexit and the ever-present threat of COVID-19, have all played a part in making 2022 a challenging year for the grocery sector.

However, there are plenty in the industry who despite the obstacles, managed to keep their profit margins healthy in 2022... not to mention their personal wealth.

Late last year, Forbes published its World's Billionaires List, its 36th annual ranking of the planet's richest people, and while the upper end of the list features plenty of familiar names from the world of business, such as Elon Musk, Jeff Bezos, Bernauld Arnault and Bill Gates, a number of grocers also make their presence felt.

ESM looks at the top 10 richest people in the grocery sector, according to Forbes' World's Billionaires List, and how these individuals obtained their wealth.

Top 10 Richest People In The Grocery Sector

1. Jim Walton

The 74 year old is the youngest son of Walmart founder Sam Walton. It is estimated that he has a net worth of $62.5 billion (€58.7 billion), according to Forbes, which places him as the richest grocer on the list, as well as the 16th richest person overall.

2. Alice Walton

Alice Walton is the only daughter of Walmart founder Sam Walton. As of October 2022, she is the second richest woman in the world and the 18th-richest person overall. Walton has a net worth of $60.3 billion (€56.4 billion) according to Forbes.

3. Rob Walton

The eldest son of Walmart founder, Sam Walton, Rob Walton took over as chairman at the retailer following the death of his father in 1992. He has a net worth of $61.2 billion (€57.2 billion). He retired as chairman in June 2015 to be replaced by his son-in-law, Greg Penner.

4. Dieter Schwartz

Schwarz Group, with revenue of over $140 billion (€130.9 billion), operates the Kaufland and Lidl discount chains. The group is technically owned by a foundation, but Dieter Schwartz is in charge of operations and is therefore the effective owner. His net worth is $35.8 billion (€33.4 billion), according to Forbes.

5. Beate Heister, Karl Albrecht Jr. & Family

Beate Heister and Karl Albrecht Jr are the children of Karl Albrecht Sr, and heirs to Aldi retail fortune. Their net worth is $31.5 billion (€29.4 billion).

6. Radhakishan Damani

Radhakishan Damani first entered the world of retailing in 2002, with the opening of his first store in Mumbai. Today, his company operates 271 DMart hypermarkets across India. Damani’s net worth is $20 billion (€18.7 billion), following the IPO of his Avenue Supermarkets business in 2017.

7. Theo Albrecht, Jr. & Family

Theo Albrecht Jr and family inherited the Aldi retail fortune and have a net worth of $18.7 billion (€17.4 billion). Theo Sr , along with his brother Karl Sr were responsible for building the Aldi empire.

8. Hank & Doug Meijer

Brothers Hank and Doug Meijer took over own Michigan-based supermarket chain Meijer from their father Frederik in 1990. They held the position of co-CEOs at the business until 2017.

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Meijer has 230 stores in the Midwest. The two brothers still serve on the board of the company, which has an estimated $19.5 billion (€18.2 billion) in sales. They are estimated to be worth $13.6 billion (€12.7 billion).

9. Lukas Walton

Lukas Walton is the grandson of Walmart founder Sam Walton. He owns stakes in Walmart, First Solar and Arvest Bank. Walton is an investor in businesses tackling environmental and social challenges, according to Forbes. He is estimated to have a net worth of $16.5 billion (€15.4 billion), according to Forbes.

10. Tom & Judy Love

Tom and Judy Love are the founders of American convenience store chain . The Oklahoma-headquartered chain has more than 490 locations in 41 states and estimated annual revenues of $20 billion (€18.7 billion). The couple are estimated to be worth $9.7 billion (€9 billion).

Read the full Forbes World's Billionaires List by clicking here.

© 2023European Supermarket Magazine– your source for the latestretail news. Article by Robert McHugh. Click subscribeto sign up toESM: European Supermarket Magazine.

The 10 Richest People In The Grocery Sector | ESM Magazine (2024)

FAQs

The 10 Richest People In The Grocery Sector | ESM Magazine? ›

The Walton family, who own Walmart, one of the world's largest supermarket chains, are also among the richest supermarket owners in the world. As of 2021, the family's net worth was estimated at over $200 billion USD, with Walmart being a major contributor to their wealth.

Who are the richest grocery store owners? ›

The Walton family, who own Walmart, one of the world's largest supermarket chains, are also among the richest supermarket owners in the world. As of 2021, the family's net worth was estimated at over $200 billion USD, with Walmart being a major contributor to their wealth.

What magazine has the list of the richest people in the United States? ›

The Forbes 400 is a report of who has the most wealth in the United States. They annually create a list of the richest people in America to exhibit the shape of the economy. The magazine displays the story of someone's rise to fame, their company, age, industrial residence, and education.

Who is the largest grocery seller in the US? ›

Walmart is the largest supermarket chain in the United States, and indeed the world, with a global turnover of $611.3 billion (€556.45 billion) in the year to end 31 January 2023, of which 69% was generated in its Walmart US business*, resulting in a total US turnover of $421.8 billion (€388.4 billion).

Who is the richest person magazine forbes? ›

Elon Musk is now the richest person in the world. He is the CEO of several prominent companies, including electric car manufacturer Tesla and space exploration company SpaceX. He currently possesses a 23 percent stake in Tesla.

Is the owner of H-E-B a billionaire? ›

H-E-B CEO Charles Butt and family among world's 200 richest parties in Bloomberg Billionaires Index. As of March 26, 2024, H-E-B's Charles Butt and his family rank No. 159 on the Bloomberg Billionaires Index.

Who is the youngest billionaire? ›

Clemente Del Vecchio

Clemente was at one time the world's youngest billionaire (at the age of 18), but he has since aged out of that title, which is now held by Livia Voigt.

Which US magazine is known for its rich list? ›

Forbes (/fɔːrbz/) is an American business magazine founded by B. C. Forbes in 1917 and owned by Hong Kong-based investment group Integrated Whale Media Investments since 2014.

How rich is Taylor Swift? ›

And now, as of February 2024? Bloomberg reported that Taylor's net worth is officially $1.1 billion.

What is the most profitable grocery store in America? ›

Walmart tops the list with $433.90 billion in sales during the 2021 fiscal year. The Walmart subsidiaries that are included in this calculation are Walmart and Sam's Club, the retailer's chain of warehouse clubs. Between the two chains, there are 5,342 locations.

What are the top 3 grocery stores in the US? ›

Walmart, Kroger, Costco make top three grocery retailers list | Supermarket News.

What is the most purchased grocery item in the US? ›

If the pun didn't make it obvious, the most popular grocery store item is bananas. Apparently, Americans can't get enough of the number one best-selling grocery store food. The average American consumes around 90 of the potassium-filled fruit every year. This equates to roughly 27 pounds of bananas.

Who is the richest American of all time? ›

Most sources agree that, adjusting for inflation, John D. Rockefeller (1839–1937) was the richest man in the United States. Business magnate and philanthropist John D. Rockefeller is widely considered the wealthiest American in history.

Who is the owner of the billionaire grocery store? ›

John A. Catsimatidis Sr.

He is the owner, president, chairman, and CEO of grocery chains Gristedes and D'Agostino Supermarkets in Manhattan, as well as the Red Apple Group, a real estate and aviation company with about $2 billion in holdings in New York, Florida and Pennsylvania.

Who is the wealthiest franchise owner? ›

Owning a professional sports team has come to be a status symbol among the mega rich. In 2024, Steve Ballmer, owner of the Los Angeles Clippers, had a net worth of over 121 billion U.S. dollars, making him the richest sports team owner worldwide.

Which grocery store makes the most money? ›

What Is the Biggest Grocery Store in North America? Walmart tops the list with $433.90 billion in sales during the 2021 fiscal year.

What's the rich people grocery store? ›

Erewhon Market (/ɛrɛhwɒn/ AIR-ruh-whahn) is an American upscale supermarket chain with ten locations, all in Los Angeles County, California, United States. The chain is noted for being a popular locale frequented by entertainment figures as reported in celebrity gossip and lifestyle publications.

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