Age, Biography, and Wiki
Ray Kroc was born on October 5, 1902, in Oak Park, Illinois, and passed away on January 14, 1984, at the age of 81. His life is a testament to entrepreneurial spirit and strategic business acumen.
| Occupation | Restaurateurs |
|---|---|
| Date of Birth | 5 October 1902 |
| Age | 122 Years |
| Birth Place | Oak Park, Illinois, U.S. |
| Horoscope | Libra |
| Country | U.S |
| Date of death | 14 January, 1984 |
| Died Place | San Diego, California, U.S. |
Height, Weight & Measurements
There is no detailed information available on Ray Kroc's height and weight.
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Dating & Relationship Status
Ray Kroc was married several times, with his most notable marriage being to Joan Smith, whom he married in 1969 and remained with until his death. Joan Kroc was a significant philanthropist, donating nearly her entire fortune to charity after her death in 2003.
Rose's father Vojtěch was from Ševětín and her maternal grandfather Josef Kotilínek was from Bořice. After emigrating to America, Alois made a fortune speculating on land during the 1920s, only to lose nothing with the stock market crash in 1929.
At the age of 15, Kroc made the decision to leave high school, contrary to his parents' wishes. Following the United States' entry into World War I, he lied about his age in order to enlist with the American Red Cross as an ambulance driver. However, his service was short-lived, as the war concluded shortly after his enlistment. During the 1920s and throughout the Great Depression, Kroc worked a variety of jobs, including a paper-cup salesman, a Florida real estate agent, and a pianist in multiple bands.
The Kroc Foundation supported research, treatment and education about various medical conditions, such as alcoholism, diabetes, arthritis and multiple sclerosis. It is best known for establishing the Ronald McDonald House, a nonprofit organization that provides free housing for parents close to medical facilities where their children are receiving treatment.
Kroc's first two marriages to Ethel Fleming (1922–1961) and Jane Dobbins Green (1963–1968) ended in divorce. Kroc and Fleming met in 1919, married in 1922, and then moved to Chicago, Illinois. He married his third wife, Joan Smith (née Mansfield) in 1969. Joan Kroc was a philanthropist who significantly increased her charitable contributions after Ray Kroc's death. She donated to a variety of causes that interested her, such as the promotion of peace and preventing nuclear proliferation. Upon her death in 2003, her remaining $2.7 billion estate was distributed among a number of nonprofit organizations, including $1.5 billion donation to The Salvation Army to build 26 Kroc Centers, along with a $200 million donation to National Public Radio as she believed deeply in the power of public radio. In addition to that, she also donated to community centers serving socially deprived neighborhoods throughout the country.
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| Husband | Ethel Fleming (m. 1922-1961) Jane Dobbins Green (m. 1963-1968) Joan Smith (m. 1969) |
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Net Worth and Salary
At the time of his death in 1984, Ray Kroc's net worth was estimated to be around $600 million. Adjusted for inflation, his net worth would be approximately $1.8 billion today. If the Kroc family had retained their shares in McDonald's, their fortune would be worth significantly more today, potentially around $18 billion.
Raymond Albert Kroc (October 5, 1902 – January 14, 1984) was an American businessman, widely, but erroneously regarded as the founder of McDonald's. Despite not having founded the company, he was instrumental in turning the then-singular hamburger stand into the most successful global fast food corporation by revenue. He purchased McDonald's from the McDonald Brothers in 1961, after several years as their franchising agent, and served as its CEO from 1967 to 1973.
Kroc became frustrated with the McDonald brothers' desire to maintain a small number of restaurants. The brothers also consistently told Kroc he could not make changes to things such as the original blueprint, but despite Kroc's pleas, the brothers never sent any formal letters that legally allowed the changes in the chain. In 1961, he bought the company for $2.7 million, the figure that the brothers gave him when pressed for an amount. Kroc went "ballistic" over hearing the amount and asked if he could pay it incrementally, but the brothers refused. Obtaining the funds for the buyout was difficult due to existing debt from expansion. However, Harry Sonneborn, whom Kroc referred to as his "financial wizard", was able to raise the required funds.
A lifelong Republican, Kroc believed firmly in self-reliance and staunchly opposed government welfare and the New Deal. Kroc donated $255,000 to Richard Nixon's reelection campaign in 1972, and he was controversially accused by some, notably Senator Harrison Williams, of making the donation to influence Nixon to veto a minimum wage bill making its way through Congress.
Career, Business, and Investments
Ray Kroc's career began as a salesman. However, his visit to a McDonald's restaurant in San Bernardino, California, in 1954 marked the beginning of his journey with the brand. Impressed by the efficiency of the McDonald brothers' system, Kroc joined them as a franchise agent and eventually bought out their shares, transforming McDonald's into a global fast-food giant. Under his leadership, McDonald's expanded significantly, and he is credited with revolutionizing the fast-food industry through franchising. Additionally, Kroc was the owner of the San Diego Padres baseball team from 1974 until his death.
Under Kroc's leadership, McDonald's grew rapidly due to Kroc's focus on aggressive expansion, opening new restaurants across the United States and eventually internationally. Kroc became the owner of McDonald's Corporation in 1961 and is credited as its founder. After retiring from McDonald's, he owned the San Diego Padres of Major League Baseball from 1974 until his death in 1984.
Kroc has been credited with making a number of innovative changes in the food-service franchise model. Chief among them was the sale of only single-store franchises instead of selling larger, territorial franchises which was common in the industry at the time. Kroc recognized that the sale of exclusive licenses for large markets was the quickest way for a franchisor to make money, but he also saw in the practice a loss in the franchisor's ability to exert control over the course and direction of a chain's development. Above all else, and in keeping with contractual obligations with the McDonald brothers, Kroc wanted uniformity in service and quality among all of the McDonald's locations. Without the ability to influence franchisees, Kroc knew that it would be difficult to achieve that goal. By granting a franchisee the right to only one store location at a time, Kroc retained for the franchise some measure of control over the franchisee, or at least those desiring to someday own the rights to another store.
At the closing, Kroc became annoyed that the brothers would not transfer to him the real estate and rights to the original San Bernardino location. The brothers had told Kroc they were giving the operation, property and all, to the founding employees. In his anger, Kroc later opened a new McDonald's restaurant near the original McDonald's, which had been renamed the Big M because the brothers had neglected to retain rights to the name. Kroc felt that no one would want to eat at a restaurant called "Kroc's" and therefore was adamant about obtaining the rights to "McDonald's".
Michael Keaton portrayed Kroc in the 2016 John Lee Hancock film The Founder. The film's depiction of Kroc's franchise development, nationwide expansion, and ultimate acquisition of McDonald's, offered a critical view of his treatment of the founding McDonald brothers.
Kroc is featured in Tim Harford's BBC World Service radio show 50 Things That Made the Modern Economy in the episode, "Fast food franchise", which depicts the boom that his franchisee model provided for the fast food industry.
Social Network
There is no specific social network presence for Ray Kroc since he passed away before the widespread use of social media.
After finalizing a franchise agreement with the McDonald brothers, Kroc sent a letter to Walt Disney. They had met as ambulance attendant trainees in Old Greenwich, Connecticut, during World War I. Kroc wrote, "I have very recently taken over the national franchise of the McDonald's system. I would like to inquire if there may be an opportunity for a McDonald's in your Disney Development." According to one account, Disney agreed but with a stipulation to increase the price of fries from ten cents to fifteen cents, allowing himself the profit. Kroc refused to gouge his loyal customers, leaving Disneyland to open without a McDonald's restaurant. Writer Eric Schlosser, writing in his book Fast Food Nation, believes that this is a doctored retelling of the transaction by some McDonald's marketing executives. The proposal was likely returned without approval.
Kroc maintained the assembly line "Speedee Service System" for hamburger preparation that was introduced by the McDonald brothers in 1948. He standardized operations, ensuring every burger would taste the same in every restaurant. He set strict rules for franchisees on how the food was to be made, portion sizes, cooking methods and times, and packaging. Kroc also rejected cost-cutting measures like using soybean filler in the hamburger patties. These strict rules also were applied to customer service standards with such mandates that money be refunded to clients whose orders were not correct or to customers who had to wait more than five minutes for their food.
Kroc's acquisition of the McDonald's franchise as well as his "Kroc-style" business tactics are the subject of Mark Knopfler's 2004 song "Boom, Like That".
Education
Ray Kroc attended Oak Park High School but did not pursue higher education. His entrepreneurial spirit and business acumen were largely self-developed.
After his death, the Padres in 1984 wore a special patch with Kroc's initials: RAK. They won the NL pennant that year against his hometown team Chicago Cubs and played in the 1984 World Series, which they lost to the Detroit Tigers. Kroc was inducted posthumously as part of the inaugural class of the San Diego Padres Hall of Fame in 1999.
