In this article, we will look at the 25 Richest Billionaires in Food and Beverage Industry.
Food and Beverage Market: An Outlook
According to a report by The Business Research Company, the food and beverage industry is estimated to reach $7 trillion in 2024. The market is expected to follow an upward trajectory at a compound annual growth rate (CAGR) of 5.9% and reach $8.8 trillion by 2028. The growth is driven by various factors including rising disposable income, subscription products, online grocery shopping, and digital payment options. On April 23, Reuters reported that Amazon.com, Inc. (NASDAQ:AMZN) has introduced a new grocery delivery subscription service in the United States, allowing subscribers to get unlimited grocery deliveries on orders over $35, at a monthly payment of $9.99. It will be available across the country in 3,500 cities and towns. The new service offered by Amazon.com, Inc. (NASDAQ:AMZN) includes products from Amazon Fresh, Whole Foods Market, and other local retailers on its platform. It also provides a reduced fee for low-income citizens at a price of $4.99 per month without the premium membership. Other big retailers in the market including Walmart Inc. (NYSE:WMT) and Target Corporation (NYSE:TGT) also offer similar subscription programs. With the launch of this service, Amazon.com, Inc. (NASDAQ:AMZN) is expanding its fresh food business to compete with other retail giants in the market.
One of the major trends in the food market is companies adapting AI and data-driven approaches to optimize their operations. On May 25, Reuters reported that the leading supermarket company Koninklijke Ahold Delhaize N.V. (OTC:ADRNY) which owns grocery chains, Food Lion, Giant Food, The GIANT Company, Hannaford, and Stop & Shop in the US, plans to automize its back-end operations and grow its earnings by driving more customers to its digital applications. The company expects to achieve $5.41 billion in cumulative savings by employing AI and automation in its logistics, supply chain, store, and backend operations while directing loyal customers to digital applications.
Major Players in the Food and Beverage Market
Some of the biggest companies in the food and beverage market include The Kraft Heinz Company (NASDAQ:KHC), Mondelez International, Inc. (NASDAQ:MDLZ), and Nestlé S.A. (OTC:NSRGY). Let’s discuss them below in detail.
The Kraft Heinz Company (NASDAQ:KHC) manufactures and markets food and beverage products in the US and worldwide. Its products range from everyday essentials to frozen products and refreshment beverages. Some of the popular brands of the company are Kraft, Oscar Mayer, Heinz, Kool-Aid, Jell-O, Heinz, and Lunchables, among others. The company is also working towards making plant-based food alternatives, capitalizing on the growing market demand. On March 12, the joint venture of The Kraft Heinz Company (NASDAQ:KHC) and the Not Company, The Kraft Heinz Not Company LLC launched its first-ever plant-based version of the company’s KD mac and cheese brand. The company is continuously expanding its portfolio to meet the customer’s demands, exemplified by its current offerings, KD NotMacandCheese and KD Gluten Free.
Mondelez International, Inc. (NASDAQ:MDLZ) is a leading manufacturer of snack food and beverages including biscuits, baked snacks, crackers, cakes, chocolates, and powdered beverages. Major brands of the company are Cadbury Dairy Milk, Tate’s Bake Shop biscuits and baked snacks, Oreo, Toblerone, LU, and Ritz. On May 28, the company announced that it has invested $5 million in a new Regional Biscuit and Baked Snacks Lab and Innovation Kitchen in Singapore. The company has integrated its new facility which will focus on developing new and improved baked snacks and biscuits, while promoting mindful snacking and catering to the demand for premium snacks. This marks the expansion of the company’s existing Singapore Technical Centre which was established in 2006 and later extended into a gum and candy category facility in 2018.
Another market leader in the food and beverage industry, Nestlé S.A. (OTC:NSRGY) is making strides in sustainable packaging solutions catering to customers’ needs for responsible consumption. On April 12, the company announced that it would be converting its ready-to-drink portfolio, Nesquick to a recyclable shrink sleeve label, created with light-blocking print technology, making it easier to recycle the bottle. The label will be available on all of Nesqiuck’s bottles starting this summer. Nestlé S.A. (OTC:NSRGY) aims to utilize the material with the plastic supply stream to convert it into another PET bottle. The new shrink sleeve and bottle will both be recyclable, allowing the customers to put the bottle into the recycling bin without having to remove the sleeve. All drinks under Nequick will be converted to the new sleeve by June 2024. This transition will allow the company to recycle an estimated 4,500 metric tons of PET plastic annually.
With this context, let’s have a look at the 25 richest billionaires in the food and beverage industry.
An assembly line of automated machines packing a variety of plant-based foods and beverages.
Methodology
To compile our list of the 25 richest billionaires in the food and beverage industry, we utilized the real time billionaires data from Forbes. The billionaires from the food and beverage industry are ranked in ascending order of their net worths, as of June 3.
25 Richest Billionaires in Food and Beverage Industry
25. Marie Besnier Beauvalot
Net Worth as of June 3: $8.8 billion
Marie Besnier Beauvalot is the heiress of the leading French dairy company, Lactalis. She owns an estimated 21% stake in the company. The company was founded by her grandfather in 1933 and is now run by her older brother Emmanuel. Her net worth is $8.8 billion, as of June 3.
24. Jean-Michel Besnier
Net Worth as of June 3: $8.8 billion
Jean-Michel Besnier is the brother of Marie Besnier and an heir to Lactalis. He is also a majority shareholder of the company and is one of the richest billionaires in the food and beverage industry.
23. J. Christopher Reyes
Net Worth as of June 3: $9.0 billion
J. Christopher Reyes along with his brother controls the leading food and beverage distribution company, Reyes Holdings. Started in 1976, the company now serves as one of the largest beer distributors in the US. The company also owns two Coca Cola bottlers and distributors. Reyes has a net worth of $9 billion, as of June 3.
22. Jude Reyes
Net Worth as of June 3: $9.0 billion
Jude Reyes also owns an equal share in the leading food and beverage distribution company, Reyes Holdings. He is ranked 22nd on our list of the richest billionaires in the food and beverage industry.
21. Tilman Fertitta
Net Worth as of June 3: $9.1 billion
Tilman Fertitta’s fortune comes from his basketball team, Houston Rockets, and a restaurant and entertainment company, Golden Nugget Casinos and Landry’s. As of June 3, Fertitta has a net worth of $9.1 billion.
20. Pamela Mars
Net Worth as of June 3: $9.7 billion
Pamela Mars along with her three sisters inherited their father, Forrest Mars Jr.’s stakes in the leading confection and petcare business, Mars. Pamela has held many roles in the company since she started in 1986. Currently, she serves as an ambassador to the company’s pet care division. Her net worth is $9.7 billion, as of June 3.
19. Valerie Mars
Net Worth as of June 3: $9.7 billion
Valerie Mars inherited an estimated 8% stake in Mars. She started working in 1992 and today serves as the vice president of corporate development. She is ranked 19th on our list of the richest billionaires in the food and beverage industry.
18. Victoria Mars
Net Worth as of June 3: $9.7 billion
Victoria Mars is ranked 18th on our list, with a net worth of $9.7 billion. She, like her sisters also inherited an 8% stake in Mars after her father’s death.
17. Marijke Mars
Net Worth as of June 3: $9.7 billion
Marijke Mars is also one of the Mars sisters and an heir to Mars, Inc. She is currently serving as a board member in the company. She is ranked 17th on our list of the richest billionaires in the food and beverage industry.
16. Charoen Sirivadhanabhakdi
Net Worth as of June 3: $10.5 billion
Charoen Sirivadhanabhakdi runs the biggest brewer in Thailand, Thai Beverage Public Company Limited (OTC:TBVPY). His other assets are Singapore beverage and property firm, Fraser and Neave. He also owns the supermarket chain Big C Supercenter which he acquired in 2016 for over $6 billion. As of June 3, Sirivadhanabhakdi’s net worth is $10.5 billion.
15. Trudy Cathy White
Net Worth as of June 3: $10.7 billion
Trudy Cathy White inherited Chick-fil-A as the daughter of its founder, Truett Cathy who died in 2014. She serves as an ambassador at the company while her brother runs the fast food chain. Cathy has a net worth of $10.7 billion, as of June 3.
14. Dan Cathy
Net Worth as of June 3: $10.7 billion
Dan Cathy is the chairman of the fast food chain, Chick-fil-A. After working multiple jobs at his father’s restaurants, Dan Cathy became the CEO in 2013. Later, he was succeeded by his son in 2021. He has a net worth of $10.7 billion, as of June 3.
13. Bubba Cathy
Net Worth as of June 3: $10.7 billion
Bubba Cathy is the brother of Dan Cathy and serves as the executive vice president of the fast food chain. He also heads the Georgia-based Dwarf House and Truett’s Grill. He is ranked 13th on our list of the richest billionaires in the food and beverage industry.
12. Marcel Herrmann Telles & family
Net Worth as of June 3: $10.8 billion
Marcel Herrmann Telles cofounded the private Equity Firm 3G Capital, which is known for its investment in the parent company of popular fast food and coffee chains Burger King and Tim Hortons, and Anheuser-Busch InBev (NYSE:BUD). The family has a net worth of $10.8 billion, as of June 3.
11. Harry Stine
Net Worth as of June 3: $11.1 billion
Harry Stine is the 11th richest billionaire in the food and beverage market. He generated his fortune by licensing corn and soybean genetics to multinational companies such as Syngenta and Monsanto. He runs a seed genetic company called the Stine Seed. He has a net worth of $11.1 billion.
10. Charlene de Carvalho-Heineken & family
Net Worth as of June 3: $14.4 billion
Charlene de Carvalho-Heineken is one of the richest women in the world. Charlene has a 24% stake in the beer company, Heineken that she inherited in 2002 from her late father. She is ranked 10th on our list of the richest billionaires in the food and beverage industry.
9. Jorge Paulo Lemann & family
Net Worth as of June 3: $16.3 billion
Jorge Paulo Lemann & family is a controlling shareholder in the leading brewer, Anheuser-Busch InBev (NYSE:BUD). In 2016, the company completed a $100 billion acquisition of various brands including Fodter’s Lager and Pilsner Urquell. The family also owns shares in the parent company of fast food chains, Burger King and Tim Hortons. The family’s net worth is valued at $16.3 billion, as of June 3.
8. Ravi Jaipuria
Net Worth as of June 3: $16.5 billion
Ravi Jaipuria owns the leading holding company RJ Corp, which has multiple businesses including beverages and fast food, healthcare, and education. His company, Varun Beverages is one of the biggest bottlers of Pepsico. Jaipuria studied in the US and returned to India in 1985 to join his family business as a bottler for Coca Cola. After the division of the business in 1987, he inherited one bottling plant and switched to PepsiCo. As of June 3, his net worth is valued at $16.5 billion.
7. Qin Yinglin
Net Worth as of June 3: $18.8 billion
Qin Yinglin is ranked 7th on our list of the richest billionaires in the food and beverage industry. He is the chief executive officer of one of the biggest pork producers in China, Muyuan Foods. He started his business in 1992 with his wife, who is now a board member of the company. His net worth is $18.8 billion.
6. Emmanuel Besnier
Net Worth as of June 3: $25.0 billion
Emmanuel Besnier is the chief executive officer and the controlling shareholder of one of the biggest dairy companies. Lactalis. The $30 billion company was founded by his grandfather in 1933. The company has over 266 plants in 51 countries around the world. Besnier has a net worth of $25 billion, as of June 3.
5. Jacqueline Mars
Net Worth as of June 3: $38.9 billion
Jacqueline Mars is one of the majority shareholders of the leading candy and pet care company, Mars founded by her grandfather. Jacqueline has worked in the company for 20 years and served as a board member until 2016. Now, her son Stephen Badger is one of the board directors. The other shareholders in the company are her brother John and the four daughters of her late brother. She is ranked 5th on our list.
4. John Mars
Net Worth as of June 3: $38.9 billion
John Mars is one of the richest billionaires in the food and beverage industry. He along with his siblings inherited stakes in the leading confections business, Mars in 1999 after his father’s death. He also owns approximately one-third of the company. As of June 3, he has a net worth of $38.9 billion.
3. Mark Mateschitz
Net Worth as of June 3: $39.3 billion
Mark Mateschitz is the only child of the cofounder of Red Bull and late Australian billionaire, Dietrich Mateschitz. Mark inherited 49% stakes in Red Bull after his father died in 2022. He has served as Head of Organics of the company but stepped down after his father’s death to focus on his role as a shareholder. He is the 3rd richest billionaire in the food and beverage market. As of June 3, his net worth is valued at $39.3 billion.
2. Giovanni Ferrero
Net Worth as of June 3: $43.4 billion
Giovanni Ferrero ranks 2nd on our list of the richest billionaires in the food and beverage industry. He is the executive chairman of Ferrero Group, a leading manufacturer of chocolate and confectionery products. Some of the top brands of the company include Nutella, Kinder, Tic Tac, and Ferrero Rocher. Giovanni Ferrero has served as a co-CEO along with his brother. He stepped down as CEO in 2017 but stayed as the executive chairman. In 2018, his firm acquired the entire US confections business of Nestle for $2.8 billion. His net worth is $43.4 billion, as of June 3.
1. Zhong Shanshan
Net Worth as of June 3: $62.0 billion
Zhong Shanshan is the richest billionaire in the food and beverage industry. He is the founder and chairman of the leading bottled water company in Hong Kong, Nongfu Spring Co Ltd (OTC:NNFSF). The billionaire was an elementary school dropout and worked various jobs as a construction worker, newspaper reporter, and beverage sales agent before starting his own bottled water company. Shanshan also owns the leading biopharmaceutical company, Wantai Biological. He is overall the 24th richest billionaire in the world and the 3rd richest person in Asia, as of 2024. The billionaire is worth $62 billion, as of June 3.
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