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What is Jimmy John Liautaud’s Net Worth and Salary?
Jimmy John Liautaud is an American restauranteur who has a net worth of $2 billion. Jimmy John Liautaud is greatest identified for founding the sandwich chain Jimmy John’s. After launching the enterprise in 1983 and promoting his first franchise in 1994, he went on to develop the chain significantly, opening greater than 2,800 areas through the years, 98% of that are franchise-owned. Liautaud can also be energetic in charity, and has donated to varied nonprofits.
In September 2016, personal fairness agency Roark Capital acquired 65% of Jimmy Johns in a deal that valued the corporate at $2.3 billion. Within two years after additional development, Jimmy John Liautaud’s pre-tax paper net worth was $1.7 billion.
In September 2019, Inspire manufacturers – the mother or father firm of Arby’s, Sonic and Buffalo Wild Wings, acquired 100% of Jimmy John’s in an all-stock deal. The valuation phrases weren’t disclosed. At the time of the transaction, Jimmy Johns produced $2 billion in annual income.
Early Life and Education
Jimmy John Liautaud was born on January 12, 1964 in Arlington Heights, Illinois because the second of 4 kids of Gina and industrialist James Sr. His siblings are Greg, Robby, and Lara. As a youth, Liautaud went to the personal prep faculty Elgin Academy. He went on to attend Eastern Illinois University, however dropped out after one semester.
Start of Jimmy John’s Sandwiches
Following his commencement from highschool in 1982, Liautaud was given a $25,000 mortgage from his father to be able to begin his personal enterprise. Taking the cash, he agreed to his father’s situation that he would enlist within the US Army if his enterprise enterprise failed. Although Liautaud initially deliberate to open a sizzling canine stand, he quickly realized that the $25,000 mortgage was an inadequate quantity for such a enterprise. In lieu of this, he determined to open a sandwich store by shopping for premium meats at his native market and mixing them along with his personal baked bread. Liautaud subsequently based Jimmy John’s Gourmet Sandwiches in Charleston, Illinois in early 1983. Because the shop wasn’t in the most effective location, he started delivering sandwiches door-to-door on the dormitories of the close by Eastern Illinois University. By the top of 1983, Jimmy John’s was making a revenue. As the enterprise continued to develop all through the last decade, Liautaud opened his second and third areas.
Jimmy John’s Franchising
In 1988, Liautaud met Jamie Coulter, a Pizza Hut franchisee who would go on to discovered Lone Star Steakhouse and Saloon. With the steerage of Coulter, Liautaud bought his first Jimmy John’s franchise in 1994. The enterprise stored increasing over the following years, amassing round 200 areas by 2002. Later, in 2007, Liautaud recruited the help of personal fairness agency Weston Presidio to assist him develop additional. The agency acquired a 33% stake in Jimmy John’s and closed on greater than 100 actual property offers throughout the first 12 months. Another personal fairness agency, Roark Capital Group, purchased a majority stake within the firm in 2016. Three years after that, Inspire Brands bought Jimmy John’s from Roark Capital Group. Headquartered in Champaign, Illinois, Jimmy John’s has greater than 2,700 areas all through the United States, with 98% of them being franchises.
Jimmy John Liautaud by way of Wikicommons Creative Commons
Honors and Awards
Liautaud has obtained numerous accolades for his enterprise success with Jimmy John’s. In 2004, he was named Illinois’ Ernst & Young Food & Beverage Entrepreneur of the Year. The similar 12 months, Liautaud was given the National CEO Conference’s Lifetime Achievement Award. Later, in 2012, he received the Nation’s Restaurant News Golden Chain. Among his different honors, Liautaud obtained the 2018 Horatio Alger Award for reaching success via private adversity.
Philanthropy
Liautaud has a prolific document of philanthropy via his Liautaud Family Foundation. In 2011, he donated $1 million for the development of a brand new YMCA in Champaign County. Just a few years later, Liautaud donated $1 million to the Folds of Honor Foundation, which helps the spouses and youngsters of killed or disabled army veterans. In 2017, he donated $2 million to assist Brewster Academy construct a brand new residence corridor.
Among his different philanthropic contributions, Liautaud has donated greater than $3.2 million to the non-profit Camp Southern Ground which was began by musician Zac Brown; $1.3 million to the Horatio Alger Association; and $1 million to Chicago’s Youth Guidance Becoming a Man program. Through his basis, he has additionally supported such teams as Crisis Nursery, the American Heart Association, Lurie Children’s Hospital of Chicago, and the Detroit Symphony.
Other Endeavors
Liautaud is understood to talk at faculties and group areas. He additionally invests within the wine trade, and owns 1000’s of acres of farmland in Central Illinois. Additionally, Liautaud is a passionate fisherman and hunter. In 2015, he obtained into bother after pictures of him posing with huge sport he hunted in Africa appeared on-line. Due to the pictures, many individuals referred to as for a boycott of Jimmy John’s. Liautaud later introduced that he not hunts huge sport in Africa.
Personal Life
With his spouse Leslie, Liautaud has three kids named Lucy, Spencer, and Fred. He owns a 198-foot superyacht referred to as ROCK.IT that was designed for him by the Dutch firm Sinot Exclusive Yacht Design in 2014.
All web worths are calculated utilizing knowledge drawn from public sources. When offered, we additionally incorporate personal suggestions and suggestions obtained from the celebrities or their representatives. While we work diligently to make sure that our numbers are as correct as attainable, except in any other case indicated they’re solely estimates. We welcome all corrections and suggestions utilizing the button beneath.
