Who Are the Convenience Billionaires?
Apr. 02, 2017NEW YORK -- Forbes magazine has released its annual ranking of the world’s billionaires, and several U.S. travel center and convenience-store chain executives are again on the list.
They are joined by the leaders of a major candy maker that supplies the c-store industry.
At the top of the ranking is Microsoft co-founder Bill Gates, with a net worth of $86 billion, followed by Berkshire Hathaway CEO Warren Buffet at No. 2 with $75.6 billion and Amazon founder and CEO Jeff Bezos at No. 3 with $72.8 billion. President Donald Trump is No. 544 on the list with $3.5 billion.
Click through to find out who represents the c-store industry on the 2017 list …
Tom and Judy Love
No. 303: Tom and Judy Love
Net Worth: $5.2 billion
Tom and Judy Love are the founders of c-store chain Love's Travel Stops & Country Stores, based in Oklahoma City. They got their start in 1964 when they leased a gas station in Watonga, Okla., for $5,000. A few years later, they launched a convenience store. Today, Love's is a national chain with more than 400 locations in 40 states. Located along interstates, they offer gas stations, convenience stores, fast food restaurants, showers and trucking supplies. The company remains family-owned and operated. Tom Love is chairman and CEO, and three of the couple's four children work for the company.
Jimmy Haslam
No. 522: Jimmy Haslam
Net Worth: $3.6 billion
Jimmy Haslam is the CEO of Pilot Flying J, Knoxville, Tenn. His father started the company in 1958. His brother Bill, also a billionaire (No. 782 with $2.6 billion), served as president of Pilot until 1999 and was elected governor of Tennessee in 2010. Jimmy Haslam shares his fortune with his wife Dee, the CEO of Rivr Media, which has produced hits such as "Trading Spaces" and the World Series of Poker. He bought the Cleveland Browns in 2012 for approximately $990 million.
Hank Meijer and Doug Meijer
No. 194: Hank Meijer and Doug Meijer
Net Worth: $7.2 billion
Hank and Doug Meijer run Grand Rapids, Mich.-based grocery chain Meijer, as well as a chain of convenience stores and gas stations. The brothers are co-chairmen of the company and Hank Meijer (pictured) is also CEO. They took control of the family-owned company in 1990 when their father, Frederik, stepped down. He and their grandfather, Hendrik, a Dutch immigrant, founded the company in 1934. Frederik Meijer ran the company from 1964 to 1990.
Jacqueline Mars and John Mars
No. 26: Jacqueline Mars and John Mars
Net Worth: $27 billion
Jacqueline Mars owns a third of the world's largest candy maker, Mars Inc., the company her grandfather started in his kitchen in 1911. It makes M&M's, Milky Way and Dove chocolate, and food products such as Uncle Ben's rice, but is even bigger in the world of pet products. Jacqueline Mars joined the family business in 1982, where she oversaw the development and marketing of new food products. She retired in 2001 but remained on the board until 2016. Her brother, John, also owns a third of Mars Inc., as did her brother Forrest Jr. until his death in July 2016 at age 84. Her niece Victoria Mars, daughter of Forrest Jr., is Mars' current chairwoman.
- To view all of the billionaires who made their fortunes from retail, click here.
- To view all of the billionaires who made their fortunes from food and beverages, click here.
- And click here for the full Forbes billionaire list.