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 might not be something you are familiar with. However, this American has made a career out of franchising and made a mark on history.
While Ray Kroc owned the San Diego Padres MLB team later in his life, his fortune and legacy are synonymous with purchasing McDonald’s.
Can you guess the net worth of the high-profile owner and CEO of McDonald’s, Ray Kroc? We’ll reveal his net worth, and the current location of his wealth.
Ray Kroc died from heart failure at age 60. His estate was $600 million. Joan Kroc was his third and final wife. She was valued at around $3 billion. Joan made a will that the McDonald’s fortune be donated to charities when she dies.
Ray Kroc’s life and fortune is fascinating. Continue reading to find out more.
Where Did the Kroc Fortune Go After Ray Died?
Ray had been to three different marriages, and his final wife Joan Kroc (worth $3 billion) was his third.
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
McDonald’s doesn’t own McDonald’s and Chris Kempczinski (current president and CEO) is not part of the Kroc Family.
Ray Kroc?
Ray Kroc, a Red Cross Ambulance driver, was born in Oak Park (Illinois) on October 5, 1902. He started at age 15 as an ambulance driver for the Red Cross during World War 1.
After the war was over, he had a variety of jobs including the sale of paper cups, playing the keyboard, and eventually getting involved in the Florida real-estate business.
A job at Prince Castle as a milkshake mixer salesman was also his dream.
His interest was sparked by the fact that Maurice McDonald had sold milkshake mixers to Richard McDonald.
Ray lost his job after Hamilton Beach arrived, but he went to San Bernardino with the McDonalds brothers, California in 1954, and saw what they were all about.
Ray Kroc began a friendship with the brothers, and soon became their partner in McDonald’s.
Furthermore, In 1955, the first McDonald’s franchise restaurant was opened by Ray Kroc in Des Plaines, Illinois, and he also served as a franchise agent for the company.
Was Ray Kroc’s initial plan for McDonald’s?
Ray Kroc is credited as the mastermind behind McDonald’s becoming a national and then international fast-food chain restaurant with both his leadership and innovative ideas.
Ray thought of the concept of selling franchises from one place, as opposed to multiple locations for the same franchises. It was a new idea at that time.
In addition to that, he felt that the development of a chain and the direction of it couldn’t be controlled as easily by the franchisor if large territories were sold at once for development.
Ray fulfilled all his obligations to McDonalds by selecting single-store franchisor sales because it gave him the ability to maintain some control over each of their franchisees.
Ray also had the vision of uniform quality and service across McDonald’s restaurants. This is why Ray wanted to have some control over his franchisee.
What Policies Did Ray Kroc Implement at McDonald’s?
Since Ray was a businessman he knew that implementing certain policies at McDonald’s would benefit the company and help it expand.
Further, he started by putting McDonald’s restaurants exclusively in suburban locations, with no building allowed in urban or downtown areas due to the socio-economic status of those groups.
Ray believed poverty-stricken urban residents would steal from Ray’s company, and then enter it when it closed.
Ray believed restaurants must be maintained clean. Ray recommended that staff members wash their hands before going to work.
Additionally, he wanted his staff to be polite to children and have good manners.
Ray didn’t like bad food, so he made it a rule to ensure that each McDonald’s outlet served all of its food the same.
Ray wanted to be certain that the foods he ate were prepared the same way every time.
He also loathed waste.
He made it clear that McDonald’s was going to ban the use of cigarette machines and pinball machines at any McDonald’s restaurant, no matter what anyone else might want.
Ray created even more policies when he purchased McDonald’s.
Additionally, he also was in charge of the packaging of McDonald’s and didn’t go for any cost-saving measures others tried to persuade him to make.
Ray was passionate about customer service. Ray made it a point to refund customers who waited longer than 5 minutes for their food.
Ray quit McDonald’s in 1974 to become the owner and manager of the San Diego Padres Major League Baseball Team.
On January 14, 1984, Ray died of heart failure at the age of 81, after battling alcohol issues for several years.
You now know about Ray Kroc. Also, check out our posts on whether McDonald’s is an ideal place to work and McDonald’s target markets.
Ray Kroc had a net worth of $600 million in 1984 when he passed away. The fortune was then handed to his third wife.
He is revered as an innovator in fast-food and was instrumental in bringing about McDonald’s Franchise Model. This is still the main business model that McDonald’s uses today.
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.
He was estimated that his wife had a net worth of $3 billion when she died. Most of the money went to charity because the Kroc family believed in helping others.
Chris Kempczinski was named the McDonald’s owner and chief executive officer.
Ray Kroc and the End of Time
Kroc was admitted to an alcohol rehab facility in 1980 after a stroke. On January 14, 1984 Kroc succumbed to heart failure.
Royalties received by The Mcdonald’S Brothers
One percent of the profits was awarded to the brothers. Initial deal allowed for 1.9% of franchisees to keep their profits. This was paid to McDonald’s Corporation and Dick and Mac McDonald.
Marilyn Kroc’s Death:
Marilyn Kroc (48 years old) died on February 4, 1973. She had before then been battling with diabetes that eventually took her life. Kroc passed away in Arlington Heights. Marilyn’s mother passed away from natural causes aged 75. January 14, 2021
How did The Mcdonald Brothers get their 1?
Yes. Ray Kroc, the McDonald’s brother who bought McDonald’s in 1961 for $2.7million took responsibility for its founding. Richard McDonald said in 1991 that “Suddenly,” after they sold, his golly, he was elevated to the position of founder (Sun Journal).
.Ray Kroc Net Worth 2022 (What Happened To His Fortune)