The Pottsville, Pa., brewery owner, with a net worth of $1.3 billion, has ties to the Lehigh Valley.
View full size
Jeff Parks, president of ArtsQuest, and Dick Yuengling, right, introduces the keg tapping, a ceremony that opens each Oktoberfest in Bethlehem.
Dick Yuengling Jr. has good reason to raise a mug.
The owner of the Pottsville, Pa.,-based DG Yuengling and Son brewery founded by his family has been named one of the world’s billionaires in the latest issue of Forbes magazine.
The list, which identified Mexican telecommunications tycoon Carlos Slim as the world’s wealthiest person, came out Monday.
Yuengling, a 69-year-old father of four, has a net worth of about $1.3 billion as of the beginning of March, the magazine reports. He is the 359th wealthiest person in the United States and the 1,107th wealthiest worldwide, Forbes says.
“The company stubbornly remains private, despite steep competition and frequent acquisitions in the beer industry,” according to Forbes. “Sole-owner Yuengling has turned down offers from all the major players and vows never to sell.”
The Yuengling label has had a strong presence in the Lehigh Valley for years. Yuengling is a major sponsor of Musikfest Cafe in Bethlehem and also partners with ArtsQuest for an annual Oktoberfest celebration at SteelStacks. Yuengling himself has attended opening ceremonies for the local Oktoberfest.
Perhaps most popular for Yuengling Traditional Lager, simply referred to as “lager” at many watering holes in the region, Yuengling also brews several other beers, including Yuengling Porter, Yuengling Black and Tan and Lord Chesterfield Ale.
Forbes noted in its article on Yuengling that he has favored measured growth; the company only does business in 14 states.