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H-E-B Climbs to Fifth Place on Forbes’ List of America’s Largest Private Companies with $43.6 Billion in Revenue

For the current year, H-E-B secures the fifth spot on Forbes’ list of the largest private companies in America, showcasing notable growth with $43.6 billion in revenue and a workforce of 145,000 employees. This marks an advancement from the previous year when the Texas-based grocer held the sixth position with $38.9 billion in revenue.

Trailing behind Publix, another prominent supermarket, H-E-B’s standing underscores its significance in the retail landscape. Despite being a phenomenon in Texas with around 420 stores in Texas and Mexico, it faces competition from Publix, which dominates the Southeast with 1,358 locations, particularly 861 stores in Florida alone.

While Publix’s extensive presence has garnered praise for its grocery offerings, including the famed “Pub subs,” akin to Texans’ appreciation for H-E-B tortillas, the latter remains influential, with plans to expand in the Dallas-Fort Worth metro in 2024.

Earlier this year, H-E-B secured a spot on Forbes’ list as one of the best employers in Texas, and its chairman, Charles Butt, featured in a roundup of the country’s wealthiest individuals with a net worth of $7.6 billion.

On this Forbes list, H-E-B is the top-ranking Texas company, with the Republic National Distributing Company at No. 32 being the next Texan entry. Houston-based firms, including Calpine, an energy company at 34, and the Friedkin Group, a consortium spanning automotive, hospitality, entertainment, sports, and adventure, also made appearances.

Among the 20 Texas companies on the list, Fertitta Entertainment, led by Houston billionaire Tilman Fertitta and encompassing gaming, dining, hospitality, and entertainment, also secured a notable position.

For inclusion on the Forbes list, companies must generate a minimum of $2 billion in revenue. This year’s list comprises 258 companies, a rise from 246 in the previous year, with newcomers like SpaceX, headquartered in California but with a Texas presence due to its Starship rocket base in Boca Chica.