Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

June 28, 2021 / Wealthiest people in CT

Wealthiest People in CT: 14. Peter Buck

Co-Founder
Doctor’s Associates (Subway), Milford
Net Worth: $1.7 billion
More Information

In 1965, Danbury resident and nuclear physicist Peter Buck loaned $1,000 to his friend’s son, Fred DeLuca, who wanted to establish a sub-sandwich shop in Bridgeport.

At the time, DeLuca — who passed away in 2015 — had hoped that starting the restaurant would help him pay for his college and medical school bills. The concept went nuclear, evolving into Doctor’s Associates Inc., the franchisor of Subway restaurants.

Although the company reports it has more than 40,000 locations around the world, Buck said, in an interview with the Wall Street Journal, “I can go anyplace in Danbury and nobody recognizes me.”

Buck’s belief in the quick-service food concept helped to propel the Danbury resident’s net worth to an estimated $1.7 billion, according to Forbes, and he’s gained a good reputation for hefty charitable contributions.

So it may be tempting to “Take the ‘A’ Train,” as Duke Ellington put it — but most Subway investors are unlikely to duplicate his success.

According to the trade publication Franchise Business Review, “… 37% of food franchise owners earn less than $50,000 per year, and just 16% — the ‘top performers’ — earn more than $200,000 per year.”

Click here to return to the Wealthiest People in CT landing page.

Sign up for Enews

Most Recent

Most Recent

0 Comments

Order a PDF