Ray Kroc Net Worth 2022 (What Happened To His Fortune)
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Headquarters
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| Type |
Public company |
|---|---|
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ISIN |
US5801351017 |
| Industry |
Restaurants , real estate [1] [2] |
| Genre |
Fast food restaurant |
| Founded |
May 15, 1940 ( 1940-05-15 ) in San Bernardino, California |
| Founders |
Richard and Maurice McDonald Ray Kroc |
| Headquarters |
, |
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Number of locations
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 38,695 restaurants (2019) |
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Area served
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Worldwide (119+ countries) |
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Key people
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| Products | |
| Revenue |
US$ 21.076 billion (2019) |
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US$9.070 billion (2019) |
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US$6.025 billion (2019) |
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Total assets |
 US$32.811 billion (2018) |
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Total equity |
−US$ 6.258 billion (2018) |
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Number of employees
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Approx. 210,000 ( 2018 (1.9 million if franchised is included in 2015) [5] ) |
| Website |
www.mcdonalds.com corporate .mcdonalds .com |
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Footnotes / references [6] [7] |
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Ray Kroc is a name you may not be familiar with, but this American who made his career as a franchise businessman has made a name for himself that’ll go down in history.
Ray Kroc bought the San Diego Padres MLB Team later in his career, but his legacy and fortune were synonymous with McDonald’s.
Can you guess the net worth of the high-profile owner and CEO of McDonald’s, Ray Kroc? Continue reading to find out more about Ray Kroc’s net worth today.
Ray Kroc had a net worth of $600million when he was killed in 1984 from complications related to heart failure. When he died, his fortune went to his third wife, Joan, who was estimated to be worth $3 billion when she died back in 2003. Joan declared in her will, that McDonald’s all-cash fortune would be distributed to charity at her passing.
Ray Kroc’s story and the way he built such a large fortune are fascinating. Please read on to discover more about Ray Kroc.
Where Did the Kroc Fortune Go After Ray Died?
Ray had three marriages and was widowed to Joan Kroc when he passed away. His estate was valued at $3 billion.
But, her 2003 death meant that almost every dollar of McDonald’s’ fortune went to charity. The Kroc family is very committed to helping those less fortunate.
What percentage of McDonald’s McDonald’s are owned by the Kroc Family Now
No one in the Kroc family owns McDonald’s at this point and the current president and CEO of McDonald’s is Chris Kempczinski.
Ray Kroc is who?
Ray Kroc (October 5, 1902) was born in Oak Park Illinois. Ray Kroc started his Red Cross Ambulance career at 15 and became a driver of Red Cross Ambulances during World War 1
Once the war was over he held various jobs such as playing the piano, selling paper cups, and even getting into the real estate business in Florida.
Furthermore, he eventually got a job with Prince Castle (a company that makes foodservice equipment) as a milkshake mix salesman.
But it was his desire to sell milkshake mixers at Maurice McDonald’s and Richard McDonald’s that first piqued him.
Ray lost his job in Hamilton Beach but went on to visit the McDonald’s brothers in San Bernardino in California in 1954.
Ray Kroc began a friendship with the brothers, and soon became their partner in McDonald’s.
Ray Kroc opened Des Plaines’ first McDonald’s franchise store in 1955. He also worked as an agent for McDonald’s.
How did Ray Kroc start McDonald’s’?
Ray Kroc, a leader and innovator behind McDonald’s’s national fast-food chain restaurants, is widely credited with helping to make McDonald’s a global brand.
Ray was the first to suggest that franchises could be sold as one location, instead of multiple territory. This idea was innovative and new at the time.
Furthermore, he thought that the franchisor would not be able to control and direct the chain’s development and direction as effectively if large tracts were bought at once.
Ray continued to fulfill his obligations towards the McDonald’s brothers and chose single-store franchise sales as it enabled him to keep some control of each franchisee.
Ray was also adamant that McDonald’s should offer the same quality service at all locations. That is why he sought to exert some control on the franchisor.
How did Ray Kroc implement policies at McDonald’s
Ray, a businessman, knew that McDonald’s could benefit from certain policies and allow it to expand.
He also started out by placing McDonald’s only in suburban areas. No building was allowed to be built in the downtown or urban areas because of their socio-economic status.
Ray believed poor people would steal from the business and get into it when the doors were closed.
Ray also believed every restaurant must be kept clean and maintained proper hygiene.
He also wanted all of the staff to have manners and be specifically nice to children.
Ray was not going to eat bad food and established a policy that every McDonald’s restaurant would serve all meals the same.
Ray wanted to be certain that the foods he ate were prepared the same way every time.
He was also averse to waste, and wanted all containers in the store empty and cleaned up.
He also made it a policy to ensure that McDonald’s did not have any cigarette or pinball machines in its stores, regardless of the wishes of others.
Ray established even more guidelines once he had McDonald’s.
He also managed the packaging for McDonald’s. This was despite being pushed to do so by others.
Ray cared deeply about customer service. Ray would even make stores give customers back their money if they waited more than 5 mins to get their food.
Ray retired as a McDonald’s employee in 1974, becoming the San Diego Padres Major League Baseball Team’s Owner.
Ray lost his battle with alcohol for over a decade on January 14, 1984.
After you have read about Ray Kroc you will also find our posts on if McDonald’s is good to work for, McDonald’s target audience, and McDonald’s motto.
Ray Kroc’s fortune, which was valued at $600,000,000 when he died in 1984 was handed down to his wife.
He is thought of as a pioneer in the fast-food industry and helped bring about the franchise model to McDonald’s which is the business model the company still primarily uses to this day.
On top of owning McDonald’s when he bought out the McDonald brothers, he also was the owner of the San Diego Padres later in his life.
When his third wife died in 2003, she was estimated to be worth $3 billion and the money all went to charity upon her death because the Kroc family was very into helping others.
Chris Kempczinski has taken over as the CEO and founder of McDonald’s. He is unrelated to Ray Kroc and his family.
Ray Kroc: What happened?
In 1980, following a stroke, Kroc entered an alcohol rehabilitation facility. On January 14, 1984 Kroc succumbed to heart failure.
Royalties received by The Mcdonald’S Brothers
They did receive a portion of the profits. The original deal was 1.9 percent of a franchisee’s profits. It was given to McDonald’s Corporation, and Dick and Mac McDonald’s received 0.5 per cent. Feb 9, 2017,
Marilyn Kroc: The Untold Story
Marilyn Kroc (48 years old) died on February 4, 1973. Marilyn Kroc, 48 years old, died from complications of diabetes. Kroc passed away in Arlington Heights. Marilyn’s mother died of natural causes at age 75.Jan 14, 2021
Did The Mcdonald Brothers Get Their 1?
Yes. He took the credit for it’s birth after the McDonald brothers had sold the business to Ray Kroc for $2.7 million in 1961. In a 1991 interview with Sun Journal, Richard McDonald stated that “Suddenly after we sold the company, my god, he elevated his self to founder.”
.Ray Kroc Net Worth 2022 (What Happened To His Fortune)
