Jim Koch, the billionaire behind Sam Adams beer, is one of the newest members of The Forbes400 thanks to hard seltzer and spiked iced tea
Koch, who hails from a long line of brewers in Cincinnati, Ohio, owns 26% of Boston Beer Company’s stock, worth about $2.3 billion on July 24, when Forbes took a snapshot of net worths for The Forbes 400 list.estimates his total fortune at $2.6 billion. He took the company public in 1995, ten years after selling the first crates of Sam Adams beer on Patriot’s Day in Boston. Koch claims to still taste test each batch of beer himself.
for the second quarter up 42% from the same period last year. Truly, its popular hard seltzer, will account for about 40% of revenues by the end of 2020, nearly double its share in 2019, according to Goldman Sachs analysts. Beer, which made up 25% of sales in 2018, is expected to drop below 10% by 2025.for $300 million in May 2019—have crumbled this year, but the company has been able to make up for it by promoting Truly and its Twisted Tea spiked ice tea.
Truly and White Claw both launched in 2016 and now dominate the growing alcoholic seltzer market, spawning a litany of new offerings by competitors rushing to get a foot in the door—AB InBev launched Bud Light Seltzer in January and promoted it with a splashy Super Bowl ad in February, just before the onset of the pandemic. Despite those efforts, AB InBev continues to struggle, and the company is
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