Take a deep dive into the untold story of Subway’s founders and learn how they divided a massive fortune in this intriguing and revealing article by Forbes. Unearth the hidden billions that turned Subway into a global empire and get a firsthand account of the strategies and tactics that helped them achieve such incredible success. Discover the true story behind Subway’s rise to fame and fortune, and gain insight into the genius of its founders’ business acumen. This is an article you won’t want to miss!
Subway’s Hidden Billions Revealed: How Its Founders Sliced Up A Fortune
Subway, once the undisputed king of sandwich chains, has seen its sales decline in recent years due to the death of its cofounder and CEO, Fred DeLuca, and a public relations scandal involving its former spokesperson, Jared Fogle. In February of this year, Subway announced that it was for sale for a price tag ranging from $7 billion to over $10 billion. Recent reporting by Forbes has uncovered new details on how much money Subway’s owners have made and protected through the years leading up to the sale, including the newly revealed fortune of Frederik Jan DeLuca’s widow, Elisabeth.
Subway’s Founder’s Wealth
According to Forbes, the fortune that the founders of Subway have accumulated over the decades is staggering. Before his death, Fred DeLuca was worth an estimated $3.5 billion, and his cofounder, Peter Buck, was worth $2.2 billion. But the recent reporting by Forbes reveals that Subway’s owners have made and protected billions of dollars beyond what was previously known.
The Newly Revealed Fortune of Elisabeth DeLuca
In the latest news, Forbes has uncovered that Fred DeLuca’s widow, Elisabeth DeLuca, is worth an estimated $8 billion. The majority of her wealth comes from her ownership in the Subway franchise, but she also has significant assets in various other businesses, according to Forbes.
Subway’s Generosity to Its Owners
Forbes’s reporting found that Subway has been paying out generously to its owners and their families for years, despite its struggles. For example, the company paid nearly $300 million in dividends to its owners in 2019, and nearly $120 million in salaries to Peter Buck and Elisabeth DeLuca over the past three years.
Subway’s Origin Story
Subway’s story began in Bridgeport, Connecticut, in 1965, when 17-year-old Fred DeLuca asked family friend Dr. Peter Buck for a $1,000 loan to start a sandwich shop. Over the years, the chain grew and expanded, becoming one of the largest fast-food franchises in the world.
The Sale of Subway
In February 2021, Subway announced that it was for sale, with a price tag ranging from $7 billion to over $10 billion. But the future of the sandwich chain remains uncertain.
Franchisees Feeling Jilted
Many Subway franchisees are feeling jilted by the company’s declining sales and lack of support. Some are even suing the company over what they see as unfair treatment.
The recent reporting by Forbes has shed new light on how much Subway’s owners have made and protected over the years. Despite declining sales and franchisee dissatisfaction, the company has been paying out generously to its owners and their families. The sale of the company for billions of dollars promises to be one of the biggest business deals of the year, but the future of Subway remains uncertain.
Who are the founders of Subway?
Ans: The founders of Subway are Frederik Jan DeLuca and Peter Buck.
Why has Subway’s sales been declining?
Ans: Subway’s sales have been declining due to the death of its CEO, Fred DeLuca, and a public relations scandal involving its former spokesperson, Jared Fogle.
How much is Elisabeth DeLuca worth?
Ans: Elisabeth DeLuca is estimated to be worth up to $8 billion.
Why are Subway franchisees suing the company?
Ans: Subway franchisees are suing the company over what they see as unfair treatment.
Is the future of Subway certain?
Ans: No, the future of Subway remains uncertain.