Fred Turner Net Worth
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3 min read
Table of Contents
– Net Worth
– Salary
– Birthdate
– Birthplace
– Gender
– Height
– Profession
– Nationality
Fred Turner Net Worth
Fred Turner, the former CEO of McDonald’s Corporation, had a net worth of $150 million at the time of his death in 2013. As a prominent business executive and philanthropist, Turner made significant contributions to the restaurant industry and left a lasting impact on one of the world’s most recognizable brands.
Highlights
– Fred Turner’s net worth was $150 million.
– He succeeded Ray Kroc as the CEO of McDonald’s Corporation.
– Turner co-founded the Ronald McDonald House Charities.
– He established “Hamburger University” for training McDonald’s managers.
– Turner’s shares in McDonald’s were valued at $150 million at the time of his death.
Early Life
Born on January 6, 1933, in Des Moines, Iowa, Fred Turner developed a passion for the restaurant industry early on. He graduated from Drake University and served in the United States Army before starting his career at McDonald’s.
Career
Turner began working at McDonald’s as a grill operator in 1956. With his dedication and hard work, he swiftly climbed the corporate ladder. By 1958, he became the Operations Vice President of the company, where he implemented strict guidelines for food quality and service.
In 1961, Turner founded “Hamburger University,” which started in the basement of a restaurant in Elk Grove Village, Illinois. This training facility has since grown into a renowned institution, with thousands of owners and managers attending each year. The Fred L. Turner Training Center in Illinois serves as the main campus, but there are also branches worldwide.
Continuing his ascent, Turner became Executive Vice President in 1967 and President and Chief Administrative Officer in 1968. In 1973, he assumed the role of McDonald’s CEO, succeeding Ray Kroc. Four years later, Turner also took on the position of Chairman.
Personal Life
Outside of his professional endeavors, Fred Turner was known for his philanthropic contributions. He co-founded the Ronald McDonald House Charities, a non-profit organization that provides support and housing for families of seriously ill children. Turner’s dedication to giving back demonstrated his commitment to making a positive difference in the world.
Net Worth Over Time
In 2003, before his retirement, an SEC filing revealed that Turner owned 1.5 million shares of McDonald’s company stock, valued at approximately $22 million at the time. As the stock skyrocketed in the following years, his holdings multiplied in value. By the time of his passing in 2013, it is estimated that Turner’s shares would have been worth around $150 million.
Components of Net Worth
Fred Turner’s net worth primarily derived from his holdings in McDonald’s Corporation. As a long-time executive, he accumulated a considerable number of shares in the company, which experienced exponential growth over the years. Turner’s entrepreneurial vision and dedication played a significant role in the success of McDonald’s, contributing to the accumulation of his substantial net worth.
In conclusion, Fred Turner’s net worth of $150 million symbolizes the immense achievements he accomplished during his career at McDonald’s. From his humble beginnings as a grill operator to becoming the CEO and Chairman of one of the world’s most recognizable brands, Turner left an indelible mark on the restaurant industry. Furthermore, his philanthropic efforts through the Ronald McDonald House Charities showcased his commitment to making a positive impact on society. As a result, his net worth reflects not only his financial success but also his significant contributions to the business world and beyond.
