How Rich Can You Get By Selling McDonalds Their Fries?

How Rich Can You Get By Selling McDonalds Their Fries?
World
Like Us On Facebook
Like Us On Facebook

The number is a whooping $3.6 Billion. That’s how much. That was the net worth of John Richard Simplot, the founder of the J.R. Simplot Company; the company which till date supplies the golden fries of McDonalds. The story behind the company proves that hard work gets you to those elusive billions.

The Simplot Company was already the largest shipper of fresh potatoes in the United States by the Second World War. The company also pioneered the frozen French Fries – an invention that is used even today and proved crucial to minting his billions. Till the time Simplot created this process of frozen fries, Mcdonalds used to cut their fries fresh at each store.

This was alright for most of the time but the best potato for fries, the Russet potato was not available during the summer. This meant that restaurants could not ensure a consistent quality of their fries. Simplot solved the problem with their frozen fries.

In 1967, Simplot and McDonalds founder Ray Kroc agreed by hand shake that from then onwards all fries in the United States would come from the Simplot Company. The agreement holds till date.

Mr. John Richard Simplot , ended up being the oldest billionaire on the Forbes 400 list at the time of his death in 2008. While one cant say that McDonalds alone made him all his billions (he had significant other investments), the frozen McDonalds fry was certainly responsible to get him to most of the way.

Elite.

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Preston Waters

Preston Waters is a thinker. He's not your traditional philosophical persona, however, as he leaves no topic untouched. Covering all the bases, from business to women, Preston Waters is the ultimate man's man for Gen-Y.

More In World

Also On Elite

Film

You’re Welcome: The Second ‘Mockingjay, Part 1′ Teaser Has Been Released

What better way to celebrate making it halfway through the week than with a little “Hunger Games” entertainment? Today, the second teaser for “The Hunger Games: Mockingjay, Part 1″ was released, and honestly, we couldn’t be more excited. In the trailer, President Snow addresses Panem, claiming the nation is unified, but is quickly interrupted by […]

Film

This ‘Lego Movie’ Parody Proves Everything Is Not Awesome, After All

Good going, Green Peace. Thanks for ruining Legos for everyone. The environmental organization has just released a video called “Lego: Everything is Not Awesome.” You know something, Green Peace, you might be right. Because your destruction of my childhood is definitely not awesome. The video is set to a somber version of the hit song […]

World

Not So Sunny In The Sunshine State: Florida Is The Most Stressed State In The US

Oh, the irony. For a state that continually attracts lots of elderly folk for the purposes of relaxing during retirement, it’s shocking to see that Florida is actually the most stressed out state in the US. Movoto, a real-estate firm, recently discovered in a new analysis that Florida has the highest levels of mental tension, […]

Women

These Ads Show The Lengths Women Have To Go To Breastfeed In Public (Photos)

Lots of women are publicly shamed for breastfeeding, so a few students were inspired to create some posters supporting women for their decision to breastfeed. “When Nurture Calls” is a mock ad campaign to support breastfeeding created by Johnathan Wenske and classmate Kris Haro at the University of North Texas. Wenske and Haro felt motivated by the stories […]