Net Worth: $2.7 Billion
- Source of Wealth Subway Restaurants
- Birth Place Brooklyn, New York City
- Marital Status Married
- Full Name Frederick DeLuca
- Nationality United States
- Date of Birth 1948
- Ethnicity Caucasian
- Occupation Businessman
- Education University of Bridgeport
- Children 1
About Fred DeLuca
American businessman Frederick DeLuca has an estimated net worth of $2.7 billion as of May 2015 according to Forbes. He is known to be one of the founders of Subway, a sandwich restaurant franchise from where he acquired most of his net worth.
Frederick A. DeLuca was born in Brooklyn, New York City, U.S.A. After attending Central High School, DeLuca studied at the University of Bridgeport where he finished his degree in Psychology. He currently lives in Fort Lauderdale, Florida with his wife and one son.
At age 17, Fred DeLuca started his first sandwich restaurant. A friend named Peter Buck lent him $1000 to start his business. Originally, the restaurant was called “Pete’s Submarines” but was later changed to “Pete’s Subway”. In 1968, the restaurant’s name was again changed to “Subway”.
It was in August 28, 1965, when the first Subway restaurant opened. In 1978, Fred DeLuca opened his 100th store and in 1987, his 1000th store was opened. As of 1993, DeLuca already had more than 11oo stores opened which is a great achievement considering that McDonald’s only had 800 open stores at that time. Today, Subway is considered as one of the most popular chain restaurants in the U.S.