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Raymond Albert Kroc (October 5, 1902 – January 14, 1984) was an American businessman. He obtained the fast food company McDonald's in 1961 from the McDonald brothers and was its CEO from 1967 to 1973.
In 1956, Ray Kroc met Harry J. Sonneborn, a former vice president of finance for Tastee-Freez, who offered an idea to accelerate the growth and investment grade of Kroc's planned McDonald's operation: to own the real estate upon which future franchises would be built. Kroc hired Sonneborn and his plan was executed by forming a separate company ...
In 1955, Kroc founded McDonald's System, Inc., which would later become the McDonald's Corporation. He bought out the brothers in 1961 for $2.7 million, the equivalent of about $28.5 million today.
The Founder is a 2016 American biographical drama film directed by John Lee Hancock and written by Robert Siegel.Starring Michael Keaton as businessman Ray Kroc, the film depicts the story of his creation of the McDonald's fast-food restaurant chain, which eventually involved forcing out the company's original founders to take control with conniving ruthlessness.
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. "The Big M" closed six years later. [16]
The biography Ray & Joan: The Man Who Made The McDonald's Fortune and The Woman Who Gave it All Away, published by Dutton in 2016, and written by Lisa Napoli, examines the Krocs' relationship. Kroc is portrayed by actress Linda Cardellini in the 2016 American biographical drama film The Founder. [23]
McDonald's present-day real estate holdings represent $37.7Bn on its balance sheet, about 99% of the company's assets and about 35% of its global revenue. [ 5 ] Kroc appointed Sonneborn as McDonald's first president and chief executive officer in 1959, which he held until he resigned in 1967, due to falling out with Kroc.
The McDonald's #1 Store Museum [1] was housed in a replica of the former McDonald's restaurant in Des Plaines, Illinois, US, opened by Ray Kroc in April 1955. The company usually refers to this as The Original McDonald's, although it was actually the ninth McDonald's restaurant.