Richard B. Cohen was born in 1952, in Keene, New Hampshire USA, of Jewish descent. Richard is a businessman, best known to be the sole owner and CEO of C&S Wholesale Grocers. His company is the bigest wholesale grocery supply company in the US. All of his efforts have helped put his net worth to where it is today.
How rich is Rick Cohen? As of mid-2017, sources estimate a net worth that is at $11.2 billion, mostly earned through his success with C&S Wholesale Grocers. He’s helped grow the company, but also participates in other business endeavors. As he continues his career it is expected that his wealth will also continue to increase.
Rick Cohen Net Worth $11.2 billion
Richard’s business started way before him, when his grandfather co-founded the C&S Wholesalers as a food distributer; his father would expand the business by supplying military bases during World War II. Cohen attended Deerfield Academy, and after matriculating, studied accounting at the University of Pennsylvania, and graduated in 1974, after which he joined the family company, moving to Brattleboro, Vermont after a union strike
In 1989, Cohen’s father retired, and he would take control of C&S which would increase his net worth significantly. He worked on growing the company in the next few years, and would then move the company headquarters to Keene, New Hampshire. The food distribution business was very low margin, and they tried to improve much of their business to ensure customer retention, focusing on improving customer support, and efficiency of the company. They have since maintained a very high standard with less than two percent of orders having omissions or errors. They also improved their work system by giving out generous performance incentives with self-managed teams, the use of which removed the need of costly supervisors. He also expanded the business by helping troubled customers. He would purchase their businesses, restructure, and sell them for a profit, which continued to build his net worth.
In 2008, Richard became a director at the Food Marketing Institute and the Food Distribution Institute. The FMI is an organization that conducts programs for wholesalers and food retailers. The members of FMI operate nearly 40,000 retail food stores around the country.
C&S Wholesale Grocers has become the 10th largest privately held company in the US according to Forbes. They own the Piggly Wiggly grocery store brand, though it is independently franchised. They also own the Best Yet private label.
In 2002, Cohen was a national finalist for Ernst & Young’s Entrepreneur of the Year Award. He is also part of the Board of Trustees at Deerfield Academy and received an honorary doctorate from Assumption College.
For his personal life, it is known that Richard is married to executive producer Jan Cohen, and they have three daughters. The couple has been known for their philanthropic work – Keene State College’s Holocaust studies center was renamed after them thanks to their financial support.
