New Hampshire Forbes 400 billionaire Rick Cohen moved up 58 spots to the 41st richest person in the U.S., and 110th in the world, with the release of the Forbes 400 U.S. list this week.
Forbes says “Rick Cohen & Family” has a net worth of $16.billion as of Tuesday. Friday it listed his “real time net worth” as $15.1B. Cohen was listed 99th in the 2022 Forbes 400, his first year to make the cut. He is the only New Hampshire resident on the list.
Cohen, 71, of Keene, is owner and executive chairman of C&S Wholesale Grocers, the nation’s largest grocery wholesaler with $33 billion annual revenue, according to Forbes. Most of the family’s wealth comes from Symbotic, a warehouse automation firm that has a partnership with Walmart to automate its 42 distribution centers, the Forbes profile says.
Cohen’s grandfather started the grocery wholesale business in 1918 in Worcester, Mass., then moved it to Vermont. Cohen moved the business across the border to Keene more than a decade ago.
Cohen launched Symbotic to solve his own grocery distribution problems, Forbes’ profile says.
Forbes says he “build Symbotic largely in stealth,” taking in public in a $5.5 billion SPAC deal sponsored by venture capital giant SoftBank in 2022. Last year was the first year Cohen was on the list.
Another member of the US aristocracy.