Posted on 03/06/2013 9:39:20 AM PST by FlJoePa
When Dick Yuengling Jr. began working for his family's brewery in 1958, some of the older workers there advised him to find a different job because they did not think the brewery was going to be in business very much longer.
It's a good thing he didn't listen to them.
Yuengling, who owns D.G. Yuengling and Son brewery in Pottsville, Schuylkill County, made this year's list of billionaires compiled by Forbes Magazine and published Monday.
According to Forbes, Yuengling's net worth is $1.3 billion, ranking him #1107 on the annual list of billionaires. He comes in at #359 in the United States.
Yuengling, 69, is the fifth-generation owner of the company, having bought it from his father in 1985.
“The company stubbornly remains private, despite steep competition and frequent acquisitions in the beer industry,” according to an article on Forbes.com. “Sole-owner Yuengling has turned down offers from all the major players and vows never to sell. In a 1996 Forbes story, he scoffed at the idea of adding a partner, noting: ‘I couldn't even get along with my own father.’”
When Yuengling bought out his dad in 1985, revenues were only $6 million and the company counted barrels sold by the thousands, according to Forbes. Today, the company brews more than 2.5 million barrels of beer a year and pulls in hundreds of millions of dollars in revenues.
The company's Pottsville brewery holds the title of America's oldest brewery, and with Budweiser, Miller and Coors all being owned by foreign companies, Yuengling is also the largest American-owned brewer.
“Yuengling favors measured growth - the company is only in 14 states so far - over incurring debt, and he would rather wear jeans and drive an old car than sell out and flaunt his wealth,” the Forbes article says.
(Excerpt) Read more at articles.mcall.com ...
No doubt Obama staffers are circulating this story throughout the White House as we speak as an attachment to a memo on the need to raise estate taxes, and the Prez’s own handwritten notation on the story reads: “You didn’t build that”!
One good thing about living where I do.....Yuengling is available.
Good for Mr. Yuengling, but I disagree, his product sucks. Check out Victory Brewing Company for a real good PA product. I recommend the Gloden Monkey!
For those who want to make him even richer.
I love the stuff. I wish I could get it up here in Arseachusetts. I’ll be bringing a case or two home when I venture down there this weekend.
Wish I could get it out West...
Yuengling is one of my favorites. I highly recommend a road trip to Pottsville and making the tour. On top of that, it’s a nice rustic little all American town. They rolled out an Octoberfest beer last year, but I couldn’t find it anywhere. Someone told me it was in a supermarket nearby. When I went to get it, they were all out. Can’t wait to try it.
Love the Lager and Lord Chesterfields the best!! They also make the only light beer I have ever tasted that is worth drinking (i.e. it doesn’t taste like water).
Great video. Any beer lover should watch this.
Yep. My neighbor gave a barbecue and was quite generous with bottles of Yuengling. I'd never tried the stuff before. Now I drink it regularly. It's really good beer.
I know I’ve done my part. You’re welcome.
If you see posts of interest to Pennsylvanians, please ping me.
Thanks!
Wouldn’t have guess he’s the largest remaining US-owned brewer. Cheers!
Yeah....I’m expecting a thank you card any day now for my contribution over the years.
Yuengling Lager is one of my favorite beers and it’s reasonably priced in the Rochester, NY area, $16.99 for a case (bottles) or $9.99 a 12 pack. It’s hard to beat that!
Good for Dick Yuengling, he and his company earned it!
I don’t drink much but I did try Yuengling when I was in Gaithersburg MD at NIST. I thought it was pretty good and kind of reminded me of Shiner in Texas.
Yuengling Black & Tan is the best bottled beer for the money in America. Yes, there are microbrews that will beat it, if you want to pay northwards of $10 for a six.
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