Table of Contents
- Table: Papa John Schnatter
- What is John Schnatter’s net worth?
- Highlights
- Early Life
- Career
- Personal Life
- Net Worth Over Time
- Components of Net Worth
Table: Papa John Schnatter
| Category | Information |
|---|---|
| Net Worth | $400 million |
| Salary | N/A |
| Birthdate | November 23, 1958 |
| Birthplace | Jeffersonville, Indiana |
| Gender | Male |
| Height | N/A |
| Profession | Entrepreneur, Television Personality |
| Nationality | American |
What is John Schnatter’s net worth?
John Schnatter, popularly known as “Papa” John Schnatter, is an American pizza entrepreneur and television personality. As of now, his estimated net worth stands at $400 million.
Highlights
– John Schnatter is famous for being the founder, former chairman, and former CEO of Papa John’s International Inc, a leading pizza delivery business.
– He became a national celebrity through his appearances in numerous national commercials that always ended with the signature slogan “Better Ingredients. Better Pizza. Papa John’s.”
– Schnatter was forced out of the company in 2018 and sold his entire stake in 2019, netting approximately $500 million in cash, before taxes and divorce settlements.
Early Life
John Schnatter was born on November 23, 1958, in Jeffersonville, Indiana. He completed his education at Jeffersonville High School and later earned a degree in business from Ball State University. Schnatter’s entrepreneurial journey started when he returned to Jeffersonville after college and joined his father’s co-owned restaurant, Mick’s Tavern.
Career
Schnatter, who had previously worked as a pizza delivery driver during college, persuaded his father to venture into the pizza business. In 1984, he sold his car to buy out his father’s partner and invested $1,600 in pizza equipment. He transformed a broom closet at Mick’s Tavern into a pizza-making room and gradually expanded to take over the whole restaurant, eventually rebranding it as Papa John’s.
Papa John’s went public in 1993, with Schnatter owning around 30% of the company’s shares. Overnight, he became a multi-millionaire. Over the years, his stake in the company earned him hundreds of millions of dollars, and at one point, he even reached paper billionaire status.
However, controversies marred Schnatter’s later years at Papa John’s. In 2012, he criticized the Affordable Care Act publicly, and in 2017, he blamed the NFL for the company’s poor financial performance. Schnatter stepped down as CEO in January 2018 and resigned from the company entirely in July 2018 after making disparaging comments on a conference call that were publicized.
Personal Life
John Schnatter married Annette in 1987, and together they have three children. However, after 32 years of marriage, Annette filed for divorce in 2019, revealing that they had already been separated since April 2019.
Net Worth Over Time
Schnatter’s wealth has fluctuated significantly over time. As of 2021, his net worth is estimated to be $400 million. However, his net worth previously reached paper billionaire status in January 2017, when the stock price of Papa John’s hit $84. At that time, his 10 million shares were worth $840 million.
Unfortunately, a series of controversies led to a decline in the company’s stock price, subsequently reducing Schnatter’s paper net worth. In 2019, he sold large portions of his equity, including his entire remaining stake in Papa John’s, for a total of $170 million.
Components of Net Worth
Apart from his holdings in Papa John’s, John Schnatter possesses significant assets, including real estate and other investments. Some notable components of his net worth include:
– Real Estate: Schnatter and his ex-wife co-owned three residential properties in Anchorage, Kentucky, a mansion in Utah, and a $6 million condo in Naples, Florida. They also own a $23 million luxury condo at a Deer Valley Ski resort in Utah.
– Louisville Mansion: Schnatter’s most famous property is a 20,000 square foot castle set on 15 acres in Louisville, Kentucky, known as the “Papa Castle.” It features a 22-car multi-level garage, several pools, a private lake, and a golf course. Its estimated value ranges from $7 to $10 million.
– Private Jets: Schnatter owns two aircraft through his LLC called Hampton Airways, Inc. These include a Bell 429 GlobalRanger helicopter valued between $4 and $6 million and a Dassault Falcon 2000EX private jet valued between $9 and $12 million.
In conclusion, John Schnatter, the pizza entrepreneur and former CEO of Papa John’s, has a net worth of approximately $400 million. Though his wealth has fluctuated over time, he has accumulated significant assets through his investments and real estate holdings.
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