Bloomberg Billionaires Index

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#372 Jude Reyes $4.83B

Random fact: Has acquired over 130 businesses since 1976.

Overview

Reyes is co-founder of Reyes Holdings, a food service and beverage distributor with revenue of $30 billion in 2016. The closely held company's divisions include Martin Brower, which delivers beef, fries and other supplies to McDonald's; Reyes Beverage Group, an independent beer distributor; and bottler Great Lakes Coca-Cola.

As of July 22, 2017:
Last change -$1.88M (-0.0%)
YTD change -$1.08B (-18.3%)
Industry Consumer
Biggest asset Food Service
Citizenship United States
Age 61
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Jude Reyes's net worth of $4.83B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
0
times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Reyes' fortune is derived from a half stake in Chicago-based foodservice and beverage distributor Reyes Holdings. The closely held company has three divisions -- foodservice companies Martin Brower and Reinhart Food Service, as well as beer supplier Reyes Beverage Group -- and hadd revenue of $30 billion in 2016, according to Orbis by Bureau van Dijk. The closely held business does not disclose financial results.

Revenue of $3 billion for Reyes Beverage Group was calculated by multiplying the number of cases distributed by the unit in 2016, as reported by the company, with the company's per-case revenue in 2011, according to industry publication Beverage World. The division is valued using prevailing transaction values-per-case distributed for the industry, based on discussions with beer industry consultants. Reyes is the largest independent beer distributor in the U.S., according to the experts.

The two foodservice divisions were valued together. Revenue of about $27 billion was calculated by subtracting the derived revenue for the beverage group from the $30 billion of consolidated revenue Reyes Holdings had in 2016, according to Orbis. They're measured against the average enterprise value-to-sales, enterprise value-to-Ebitda and price-to-earnings multiples of three publicly traded peers: Amcon Distributing, Core-Mark Holding, Sysco.

Reyes Holdings has $2.3 billion of debt, according to data compiled by Bloomberg. It's allocated between Reyes Beverage and the food service units based on the percentage of total group revenue each division is calculated to represent.

The company doesn't disclose ownership information and the stake credited to the billionaire reflects his role as co-founder. His brother Jude, the other co-founder, is credited with the other half.

Reyes declined to comment on his net worth, according to spokeswoman Meredith Simpson on behalf of Reyes Holdings.

Biography

Birthdate: 1955
Family: Married, 3 children
Education: Bachelor's Degree, Wofford College

M. Jude Reyes, the son of an electrical engineer, was born in 1955 in Washington D.C. He received an undergraduate degree in economics from Wofford College in Spartanburg, South Carolina. He's co-chairman of closely-held food and beer distributor Reyes Holdings, a role he shares with his brother Chris.

Reyes Holdings is made up of three divisions: Martin-Brower, which supplies McDonald's, Reyes Beverage Group, the largest beer distributor in the U.S., and Reinhart Food Service. The company delivers over 900 million cases of beer and food products from 100 warehouses around the world, according to its website. It has more than 18,000 employees and had reported revenue of $24 billion in 2014, according to its website.

Jude Reyes serves as chairman of the board of the Rehabilitation Institute of Chicago, a director of the Children's Hospital Foundation in Washington and is a member of the National Beer Wholesalers association.

He lives with his wife Lori and their three children in Kenilworth, Illinois.

Milestones
  • 1954 Brother Chris is born.
  • 1955 Jude Reyes is born in Washington D.C.
  • 1976 Goes into business with brother Christopher.
  • 1998 Purchases food supplier Martin-Brower.
  • 2004 Acquires food distributor Reinhart Foodservice.
  • 2011 Martin-Brower buys Keystone Foods' distribution businesses.
  • 2014 Agrees to acquire distribution rights to Coca-Cola in Chicago.
  • 2014 Buys assets of Gold Coast Beverage Distributors.