The Ultra-Wealthy Family That Owns Publix Super Market

It turns out that breaking into the supermarket industry could make you a billionaire — at least, it's certainly paid off for the Jenkins family. George Jenkins founded Publix Super Market, a Southern grocery staple, in 1930 — and the Jenkins family is still involved in its ownership today, although they aren't the majority shareholders. As of 2024, they are reportedly worth $11.2 billion.

George Jenkins started Publix nearly 100 years ago; he was previously employed at Piggly Wiggly, another grocery chain based in the South. After gaining experience with Piggly Wiggly, he opened the first Publix Food Store in Winter Haven, Florida, in 1930. Another location followed five years later, and another five years after that. In 1940, the first two stores were shuttered to make way for the first larger Publix Super Market. Since then, the grocery chain has grown to nearly 1,400 locations and 250,000 employees, and the family's net worth has exploded. Jenkins died in 1996, but several family members remained on the board in his stead, including his son and grandson, who both retired from it in 2024. Today, Jenkins' niece, Jennifer Jenkins, is the only remaining familial board member.

George Jenkins was just 22 years old when he opened the first Publix location, and his goal was to create a different kind of supermarket that made grocery shopping more enjoyable for both shoppers and employees. The company even has a program that allows customers to shop with the help of a registered dietician. As for other investors, there aren't any — unless you count the employees themselves. 

Rather than take the supermarket chain public, Jenkins decided to only allow employees to purchase stock in the grocery brand. According to the company, Publix stock is only available for active employees and board members. Jenkins reportedly believed that, if the employees held shares of the brand, they would want the company to succeed, which would, in turn, help drive their work ethic. This business model has led to Publix being the largest employee-owned company in the country, with past and present employees owning approximately 80% of it and the Jenkins family owning the remaining 20%, per Forbes.

Although Publix only has locations in eight states, it's proved a gold mine for the family. While it's possible the Jenkins family has other unlisted investments that helped build their net worth, it doesn't seem that they've notably invested in anything other than their own supermarket to turn themselves into multi-billionaires.