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, a name many may not recognize but an American businessman and franchisee who built his name has a legacy that will live on in American history.
Ray Kroc was later to own the San Diego Padres MLB baseball team, but his legacy is synonymous with McDonald’s.
Guess the net worth and whereabouts of Ray Kroc (the CEO and owner of McDonald’s), a well-known celebrity? Stay tuned to learn more about Ray Kroc and his current net worth.
Ray Kroc had a net worth of $600million when he was killed in 1984 from complications related to heart failure. Joan Kroc was his third and final wife. She was valued at around $3 billion. Joan put in her will that all of the McDonald’s fortune would be given away to charity when she died.
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.
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.
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.
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: Who are you?
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.
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.
He also got a job as a salesman for milkshake mixers at Prince Castle, an equipment manufacturer.
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 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.
Ray Kroc also opened the first McDonald’s franchise location in Des Plaines Illinois in 1955.
How did Ray Kroc start 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 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.
A franchisor could not control how a chain develops and where it goes. He felt this was true even if large territory were purchased at the same time for their development.
Ray also fulfilled his obligations to McDonald’s Brothers by choosing single-store sales franchises because it allowed him to have some control over the franchisees.
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.
Which Policies Was Ray Kroc Responsible for at McDonald’s
Ray is a successful businessman and knew the benefits of certain policies for McDonald’s.
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 that people living in poverty would take advantage of the company to steal it and then break into its business after the closure.
Ray also believed every restaurant must be kept clean and maintained proper hygiene.
He desired that all staff had good manners, and especially be kind to children.
Ray decided that he wouldn’t tolerate bad food in any restaurant and established a general rule that all McDonald’s food must be served and cooked the same at each location.
Ray did not want any deviations from the ingredients that were used or the way the food was made and wanted everything uniform no matter what it took.
He also hated waste and wanted every single container in the store to be empty and scraped clean.
Furthermore, he established a policy that McDonald’s would not allow pinball or cigarette machines to be installed in any McDonald’s location.
Ray established even more guidelines once he had McDonald’s.
He was also in charge of McDonald’s packaging and refused to take any other cost-saving measures.
Ray was all about customer service and even made stores refund customers if they had to wait more than 5 minutes to get their food or if the order was made wrong.
Ray left McDonald’s and was made the San Diego Padres Major League Baseball Team’s owner in 1974.
Ray passed away on January 14, 1984 at age 81 after suffering from alcoholism for several years.
Now that you know about Ray Kroc, you can also see our posts if McDonald’s is a good place to work, McDonald’s target market, and McDonald’s slogan.
Ray Kroc died at the age of 59 in 1984. His fortune was left to his widow.
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.
In addition to owning McDonald’s after he purchased out the McDonald’s brothers, he was also the later owner of 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: Was It Really Happened?
Kroc went into an alcohol rehabilitation program in 1980 following a stroke. He died four years later of heart failure at a hospital in San Diego, California, on January 14, 1984, at the age of 81, and was buried at the El Camino Memorial Park in Sorrento Valley, San Diego.
Did The Mcdonald’S Brothers Receive Royalties?
Brothers did share a part of the profits. The original deal was 1.9 percent of a franchisee’s profits. It was donated to McDonald’s Corporation and Dick and Mac McDonald.
Marilyn Kroc: The Untold Story
Marilyn Kroc, 48 years old, died in 1973. Before that, she had been suffering from diabetes which eventually claimed her life. Kroc was buried in Arlington Heights. Marilyn’s mother, Marilyn, died naturally at 75. Jan 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. “Suddenly, after we sold, my golly, he elevated himself to the founder,” said Richard McDonald in a 1991 interview (Sun Journal).
.Ray Kroc Net Worth 2022 (What Happened To His Fortune)