These two families will get billions from the sale of Subway

Marcus Baram
Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.

Aug 28, 2023
1 year ago

The recent sale of Subway, one of America’s largest fast food chains, to a private equity firm has made the families of the founders multibillionaires. 

The sale to Roark Capital, which reportedly led bidders with an offer to buy Subway for more than $9 billion, represents a big payday for the families of founders Fred DeLuca and Peter Buck. DeLuca’s widow and son could walk away from the sale with an estimated $3.4 billion, reports Forbes. 

As for Buck, who is also deceased, he left instructions in his will to leave his half of the company — which could be worth $4.5 billion — to his family foundation. The massive donation stands as one of the biggest single charitable gifts to a foundation — and saves Buck’s two sons from a nearly $2 billion tax bill.

That’s not all the money they’ll get. Both families could end up with an additional $600 million between them if the chain meets certain financial goals.

Marcus Baram
Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.