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 may be a name that you don’t know, but the American franchise businessman who has built a reputation for himself will go down in history.
Although Ray Kroc later owned the San Diego Padres MLB club, his legacy and fortune are still synonymous with McDonald’s.
How much does Ray Kroc have in net worth as the famous owner of McDonald’s and its CEO? Keep reading, we’ll tell you all about his net worth and where his money is today.
Ray Kroc, who died of heart failure in 1984 at the age of 60, was estimated to have been worth $600million. Joan Kroc was his third and final wife. She was valued at around $3 billion. Joan wrote in her will that McDonald’s entire fortune would be left to charity after she passed away.
Ray Kroc has so many secrets. Here are some of his most important accomplishments.
The Kroc Fortune went where after Ray Died.
Ray had been to three different marriages, and his final wife Joan Kroc (worth $3 billion) was his third.
Nevertheless, almost every cent of McDonald’s fortune, after her death, was donated to charities by the Kroc family, who were very passionate about charity and supporting the poor.
The Kroc Family Now Owns What Part of McDonald’s
McDonald’s currently has no Kroc family member, but Chris Kempczinski serves as the president and CEO.
Ray Kroc is who?
Ray Kroc was born October 5, 1902, in Oak Park, Illinois, and started as a Red Cross Ambulance driver during World War 1 at the age of 15.
After the war, he took on various roles, including selling paper cups and playing the piano. He also got into the Florida real estate market.
Additionally, he eventually landed a job with Prince Castle, a foodservice equipment company, as a milkshake mixer 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 formed a bond with the brothers then became a partner of their McDonald’s.
Ray Kroc opened Des Plaines’ first McDonald’s franchise store in 1955. He also worked as an agent for McDonald’s.
Which Initial Plans did Ray Kroc Make for 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 had an innovative idea to sell franchises in one store, rather than selling multiple territories for them at once.
He also felt that franchisors couldn’t control the growth of a franchise and its direction if too many territories were being sold simultaneously 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.
Ray Kroc’s McDonald’s Policy Implementation
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 also believed every restaurant must be kept clean and maintained proper hygiene.
Additionally, he wanted his staff to be polite to children and have good manners.
Ray refused to accept bad food at any McDonald’s and set a standard that food be prepared and served in the exact same manner at all locations.
Ray would not accept any modifications to the recipe or food preparation.
He hated all waste. Every container at the store had to be empty.
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.
He also handled the packaging of McDonald’s.
Ray was an advocate for customer service. Ray even offered to reimburse customers who had to wait longer than 5 minute to pick up their food or were not satisfied with the delivery.
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.
His legacy is that he is considered a pioneer of fast food and helped to create the McDonald’s franchise model, which the company continues to use to this day.
Apart from owning McDonald’s, when he acquired the McDonald brothers’ restaurants, he later owned the San Diego Padres.
In 2003, his third wife was worth an estimated $3 billion. After her death in 2003 the Krocs donated all the funds to charity.
Chris Kempczinski now owns McDonald’s as CEO.
Ray Kroc and the End of Time
Kroc entered an addiction rehabilitation center in 1980 after suffering a stroke. On January 14, 1984 Kroc succumbed to heart failure.
Royalties were paid to the Mcdonald’S Brothers
The brothers did get a percentage of the profits. The original deal was 1.9 percent of a franchisee’s profits. This was paid to McDonald’s Corporation and Dick and Mac McDonald.
Marilyn Kroc: What happened?
Marilyn Kroc (48 years old) died on February 4, 1973. Her battle with diabetes had led to her death. Kroc was buried in Arlington Heights. Marilyn’s mother, Marilyn, died naturally at 75. Jan 14, 2021
Are The Mcdonald Brothers Getting Their 1?
Yes. Ray Kroc, the McDonald’s brother who bought McDonald’s in 1961 for $2.7million took responsibility for its founding. 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)
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