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Billionaire Profile
J
Global Rank
#2032

Image: Royal College of Surgeons of England | Public domain | via Wikimedia Commons

Joseph 'Pitt' Reeves Hyde III

CEO, Auto parts
UNITED STATES
Real-Time Net Worth
$2B
Estimated based on Auto parts stock value as of March 6, 2026
0% (24h)
Age
83
Source
Auto Parts
Industry
Automotive
Citizenship
UNITED STATES

Biography

Joseph 'Pitt' Reeves Hyde III is a prominent American entrepreneur and philanthropist. Born in 1942, he is best known for founding AutoZone, a leading auto parts retailer, in 1979. Hyde served as CEO and board chair of AutoZone until 1996. His wealth stems from his success in the auto parts industry. Beyond business, Hyde is recognized for his significant philanthropic contributions, primarily through the Hyde Family Foundation, focusing on education, community development, and cultural initiatives in his hometown of Memphis, Tennessee. As of February 2, 2026, his real-time net worth is $2 billion.

Fact Checked
Verified by Editorial Team
Live Data
Updated 3/6/2026

Wealth Over Time

In-Depth Profile

Early Life

Joseph 'Pitt' Reeves Hyde III was born in Memphis, Tennessee, in 1942. His grandfather founded the wholesale grocery business Malone & Hyde in 1907. Hyde graduated from the University of North Carolina with a degree in economics in 1965. He is a member of the Presbyterian Church and studied at Presbyterian Day School.

Rise to Success

Hyde started his career at Malone & Hyde, eventually becoming the youngest CEO on the New York Stock Exchange for ten years. In 1979, he founded AutoZone as part of Malone & Hyde. He guided AutoZone's growth from one store to a major auto parts retailer with over 4,800 stores in the U.S., Puerto Rico, and Mexico. Hyde retired as CEO and chairman of AutoZone in 1997.

Key Business Strategies

Hyde's business strategy for AutoZone focused on customer service, employee training, and innovation. He emphasized knowledgeable service and the use of technology to improve the customer experience.

Philanthropy

Hyde, with his wife Barbara, runs the Hyde Family Foundation. The foundation focuses on transforming education, positioning authentic assets, and livable communities, particularly in Memphis. The foundation has given over $300 million to local causes.

Career Milestones

1965

Graduated from the University of North Carolina

Obtained a degree in economics.

1968

President of Malone & Hyde

Became President of Malone & Hyde, the wholesale food company.

1972

Chairman of Malone & Hyde

Elected Chairman of Malone & Hyde.

1979

Founded AutoZone

Established AutoZone Inc. as part of Malone & Hyde.

1997

Retired as CEO and Chairman of AutoZone

Stepped down from leadership positions at AutoZone.

Philanthropy & Social Impact

Civil Rights

National Civil Rights Museum

$300M+

Helped establish the National Civil Rights Museum.

Arts

Memphis Art Museum

$45M

Bankrolled the new Memphis Art Museum.

Business Philosophy & Leadership

Notable Quotes

"“The entrepreneurship spirit in my family spans several generations. I grew up watching both my grandfather and father build businesses from the ground up. They took risks that many people considered unwise-and succeeded, despite the odds."

"“It's not enough to give courteous service. We must give knowledgeable service.”"

Leadership Principles

Customer Service

Hyde made customer service the core business philosophy.

Community Reinvestment

Reinvesting in the community through charitable and civic support.

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