Fred DeLuca net worth

Fred DeLuca net worth

Net Worth: $1.7 Billion

About Fred DeLuca

Fred DeLuca net worth

It has been stated that the overall estimate of Fred DeLuca net worth is as high as 1.7 billion dollars, which makes him one of the many billionaires in the world. He made his name well known because of his successful career in business. The businessman was born in 1947 and passed away in 2015. Talking about his business involvement, Fred DeLuca is mostly known as one of the founders of the Subway franchise, which includes sandwich shops. This involvement not only made his name well known all around the world, but also added up a lot of revenues to the total amount of Fred DeLuca net worth.
Fred DeLuca was born in 1947 in Brooklyn, New York. His parents were of Italian American origin, named Carmela and Salvatore DeLuca. When he was 10 years old Fred DeLuca moved to Amsterdam, New York. It was also this place when his family made friends with Peter Buck. When he became a teenager, the family moved once again, this time to Bridgeport, Connecticut. When he became successful in business, Fred DeLuca was able to make his dream come true and enrolled into the University of Bridgeport, from which he successfully graduated.

Before that, he was studying at Central High School in Bridgeport, Connecticut.
When he was 17 years old, Fred DeLuca borrowed 1 thousand dollars from the mentioned family friend, Peter Buck. Peter Buck was the one who motivated him to start his own business in order to get money for his studies. Fred Deluca’s aim was to establish a food business which ‘provided a healthful, less fattening bill of fare’. The initial name of his business was Pete’s Submarines, but in commercials the name of it sounded similar to Pizza Marines, therefore, he changed the company’s name to Pete’s Subway. In 1968 the name of the company was shortened to simply Subway and this is the name by which it is known today. Subway also became the main source of Fred DeLuca net worth.
The first shop of Subway was opened in Connecticut in 1965. The first years of his business were learning years, during which Fred DeLuca learnt a lot and also was challenged a lot. In 1966 another shop was opened in a better location as he realized that the location of the shop was a key factor to its success. Fred DeLuca later stated that his biggest failure was that the first shop was opened in a ‘crummy location’. The third shop was opened in an even better and more visible place and it is still there today. In 1978, the 100th shop of Subway was opened. Thus, with more and more shops being established, his name became even more known and the shops increased the total estimate of Fred DeLuca net worth a lot.
In 2013, more than 39 thousand shops were opened overall in all places in the world. More than 9 billion dollar sales every year are produced by these shops. Today, Subway is also considered as one of the most popular food chains in the world.

Now you have an idea why Fred Deluca net worth is this huge

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