Sam Adams Maker Is Billionaire on Craft Beer Surge

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

Sept. 9 (Bloomberg) -- Armed with a family recipe and a flair for marketing, C. James “Jim” Koch popularized craft beer in the U.S. and turned Boston Beer Co. into the second-largest American-owned brewery. It also helped make him a billionaire. Bloomberg's Peter Newcomb reports on Bloomberg Television's "In The Loop." (Source: Bloomberg)

You have uncovered yet another billionaire.

He has been out there by the bit selling his product.

What has happened recently?

This story is written by a reporter in boston.

Beer sales have been flat for the most part.

The big story is that craft beer is up about 15%. it has done real well.

Jim cook -- jim koch has capitalized on it.

Why have beer sales been pretty flat overall?

Was the most part, consumers probably got bored -- for the most art, consumers probably got bored.

It is hard to differentiate -- for the most part, consumers probably got bored.

It is hard to differentiate.

Different labors and that sort of thing.

And they are local.

-- different flavors and that sort of thing.

And they are local.

In the wine industry has grown so large.

-- and the wine industry has grown so large.

There was a huge growing season.

They are expected to make a lot of money, too.

Is there something that jim koch does with his company versus other craft brewers question mark besides -- other craft brewers?

Besides being a master brewer, he goes to bars and stores and really tries to persuade them to carry the sam adams brand.

He is their number one salesman.

He is kind of an ambassador of the year.

-- of beer.

What do we know about the way he manages?

He took it public about 10 years ago, which was unique, i think, for craft beers among -- craft beers, microbreweries.

There is a privately owned company, more than 150 years, different.

How much is he worth question mark about $1 billion.

The stock is worth about 930 million -- how much is he worth?

About $1 billion.

The stock is worth about 930 million dollars.

The beer industry has minted a few billionaires.

You go back in time, august busch.

Those are about the only two.

Thank you for joining us.

Bloomberg billionaires editor.

For more on this story, check out our exclusive index at bloomberg.com/billionaires.

47.5 billion liters is how much beer was consumed last year in china.

Foreign brewers are ramping up their efforts there.

Beer is growing like hot cakes.

They sell these more upscale beers.

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change