Fred Turner Net Worth 2024

What is Fred Turner’s Net Worth?

Fred Turner was an American restaurant trade government who had a net worth of $150 million on the time of his demise in 2013. He was finest recognized for being the CEO of McDonald’s. He succeeded legendary McDonald’s CEO/founder Ray Kroc. He was additionally the co-founder of the Ronald McDonald House Charities.

Fred Turner was born in Des Moines, Iowa in January 1933 and handed away in January 2013. He graduated from Drake University and served within the United States Army. Turner began working at McDonald’s as a grill operator in 1956. By 1958 he was the Operations Vice President of the corporate and established strict tips for the way hamburgers and different meals had been served together with French fries that needed to be exactly 0.28 inches thick. Turner established the motto “Quality, Service, and Cleanliness”. In 1967 he turned Executive Vice President and in 1968 he turned President and Chief Administrative Officer. Fred Turner turned McDonald’s CEO in 1973 and changed Ray Kroc as Chairman in 1977.

(Photo by Scott Whitehair/Fairfax Media by way of Getty Images).

In 1961 Fred based what would later be often called “Hamburger University” within the basement of a restaurant location in Elk Grove Village, Illinois. Fast ahead to the current and greater than 5,000 homeowners and managers attend Hamburger University at a sprawling suburban Illinois campus annually. Hamburger University is formally held within the Fred L. Turner Training Center in Illinois, however has branches all over the world.

The 12 months earlier than Fred retired in 2003, an SEC submitting confirmed that he owned 1.5 million shares of firm inventory which at the moment had a worth of round $22 million. The inventory exploded over the subsequent decade. Assuming he held on to his total stake, Fred’s shares would have been price round $150 million on the day he died. Fred Turner handed away on January 7, 2013 at 80 years outdated.