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 not a household name, but this American made his fortune as a franchisor businessman. His name will be remembered forever.
While Ray Kroc owned the San Diego Padres MLB team later in his life, his fortune and legacy are synonymous with purchasing McDonald’s.
How much does Ray Kroc have in net worth as the famous owner of McDonald’s and its CEO? Read on to discover his net worth as well as where his money stands today.
Ray Kroc’s estate was valued at $600 million in 1984, when he passed away from heart disease. Joan, Ray Kroc’s third wife and worth an estimated $3 billion at the time of his death in 1984, received his fortune. Joan declared in her will, that McDonald’s all-cash fortune would be distributed to charity at her passing.
Ray Kroc is a fascinating man, and it’s easy to see why he has accumulated such wealth. Read below for more information about this great guy behind McDonald’s.
The Kroc Fortune went where after Ray Died.
Ray had three marriages and was widowed to Joan Kroc when he passed away. His estate was valued at $3 billion.
However, the Krocs loved charity and helped the less fortunate after she died in 2003.
What percentage of McDonald’s McDonald’s are owned by the Kroc Family Now
McDonald’s does not own any Kroc relatives at the moment. Chris Kempczinski, the current President and CEO of McDonald’s, is also the Kroc family’s sole shareholder.
Who is 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 finished, he worked various jobs, including playing the piano and selling paper cups.
A job at Prince Castle as a milkshake mixer salesman was also his dream.
It was the sale of milkshake mixes to Maurice McDonald and Richard McDonald who sparked his curiosity.
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.
It was then that Ray Kroc started a relationship with the brothers and became a partner in their McDonald’s business.
Ray Kroc opened Des Plaines’ first McDonald’s franchise store in 1955. He also worked as an agent for McDonald’s.
Was Ray Kroc’s initial plan 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 came up with the idea of selling franchises as one single store as opposed to selling a lot of territory for franchises at once, which was new and innovative 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 kept his commitments to the McDonald’s brothers intact by opting for single-store franchise sales, which allowed him some control over each franchisee.
Ray believed that McDonald’s service should be the same at every McDonald’s location. Therefore, he desired some control over the franchisee.
What Policies Did Ray Kroc Implement at McDonald’s?
Ray knew from his business background that McDonald’s should implement certain policies to grow the business.
Further, McDonald’s started with only suburban McDonald’s locations. Because of the socio-economic status and other factors, no buildings were allowed in downtown areas or in cities.
Ray believed that people living in poverty would take advantage of the company to steal it and then break into its business after the closure.
Ray believed in regular sanitation and hygiene for all restaurants. He also required that employees be groomed, washed, and cleaned after each meal.
He also wanted all of the staff to have manners and be specifically nice to children.
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 also loathed waste.
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 also established additional policies after he bought 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 left McDonald’s and was made the San Diego Padres Major League Baseball Team’s owner in 1974.
Ray was 81 and died on January 14th 1984 from cardiac failure. Ray had suffered for years with drinking issues.
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, who was estimated to have been worth $600 million at his death in 1984, was passed on to his third spouse.
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.
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: Was It Really Happened?
Kroc entered an addiction rehabilitation center in 1980 after suffering a stroke. Four years later, Kroc, who was then 81, died from heart failure in a San Diego hospital. His remains were buried at El Camino Memorial Park.
Royalties received by The Mcdonald’S Brothers
These brothers received a share of the profit. Original deal included 1.9 percent of the franchisees’ profits. The McDonald’s Corporation received it, while Dick and Mac McDonald received 0.5 percent. February 9, 2017.
Marilyn Kroc: The Untold Story
Marilyn Kroc was 48 when she died. 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
What happened to The Mcdonald Brothers’ 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. Richard McDonald, in an interview for Sun Journal 1991, stated, “Suddenly, after the sale, my golly he elevated himself as founder.”
.Ray Kroc Net Worth 2022 (What Happened To His Fortune)