Ray Kroc Net Worth: Bio, Height, Age & Career
Raymond Kroc was a businessman known for purchasing McDonald’s and is often considered to be responsible for the global expansion of the fast-food company. He served as the CEO of McDonald’s for 7 years before retiring and turning his eyes toward Major League Baseball. He bought San Diego Padres when it was on sale in 1974 and stayed as the owner of the franchise till 1984 when he passed away.
Raymond was born in Oak Park, Illinois on 5 October 1902 to a Czech-American couple. His father ended up losing most of his fortune in the great Wall Street Crash that sent shockwaves through the US in 1929.
Kroc got his first job when he was just 15. He faked his age to get a job as a Red Cross ambulance driver in the final stages of World War I. As a trainee there, he was introduced to Walt Disney. The war ended but was followed by the Great Depression which forced Kroc to work multiple jobs for survival.
One of the jobs was that of a milkshake mixer salesman for Prince Castle’s Multi-Mixer product. The McDonald brothers Richard and Maurice bought multiple units from him which led to a professional bond between them.
Kroc offered to buy the franchise and a deal was finalized. Kroc then contacted Walt Disney who he had earlier met and offered a place for McDonald’s in Disney’s plans. Disney accepted his offer but want a price increase to boost profits and the conversation never went anywhere.
Kroc brought multiple changes in policies under his franchise but could not expand on his ambition because of the lack of freedom he was provided by the McDonald brothers. The emergence of competitors like KFC and Burger King added to Kroc’s frustration which forced him to finalize a complete buy-out of the company in 1961. Upon gaining full control, Kroc brought about every change he had intended to for long.
From standardizing operations to eliminating cost cuts and improving customer service, Mcdonald’s went through a massive overhaul and improvement under his tenure. He stepped away from McDonald’s in 1973 and left the fast-food chain with an all-time high of $8 billion in sales.
Upon his retirement, Kroc moved back to his childhood passion which was baseball. The San Diego Padres were up for sale that year and were almost bough off by someone else before Kroc hijacked the deal when it was stalled by pending lawsuits. The initial deal would have seen the team moving to Washington DC but Kroc’s $12 million bid made sure it stayed in San Diego.
This was one of the many reasons he was highly respected amongst the fans of the team. San Diego Padres failed to win anything substantial under Kroc’s ownership but the attendance for their games was higher than ever during that era. Kroc himself was frustrated with the incompetence of the team which led to him handing over the reins to his son-in-law Ballard Smith.
On 14 January 1984, Kroc passed away due to heart failure. He was inducted into the 1999 San Diego Padres Hall of Fame posthumously. In 2016, John Lee Hancock made a movie based on Kroc titled The Founder, with Michael Keaton reprising his role.
Birthday & Zodiac Details
- Date of Birth – October 5, 1902
- Birthplace – Oak Park, Illinois
- Zodiac sign – Libra
Body Appearance Height, Weight
- Height – 5’4″
- Weight – 158 lbs / 72 kg
Other Facts
- Profession – Businessman
- Educational Qualification – High School
- Religion – Christianity
- Nick Name – Big Mac Man
- Nationality – American
- Residence – N/A
Social Media Accounts
- Instagram – N/A
- Twitter – N/A
- Fb – N/A
Networth
Kroc is considered one of the most successful businessmen in the history of America and was responsible for the global rise of McDonald’s. At the time of his death, Kroc had a net worth of more than $600 million without considering the present inflation rates.
FAQs
What year was Ray Kroc born?
Ray Kroc was born in 1902.
How much was Ray Kroc worth?
Ray Kroc was worth more than $600 million.
What was Ray Kroc’s net worth?
Ray Kroc’s net worth was more than $600 million.
Where was Ray Kroc born?
Ray Kroc was born in Oak Park, Illinois.
Where was Ray Kroc from?
Ray Kroc was from Oak Park, Illinois.