Dan Cathy, an American businessman, the CEO & Chairman of Chick-fil-A, a fast-food chain, established in 1967 by his father S. Truett Cathy. Formerly, he was President & COO of the food chain until 2013 & later became its CEO onward to date.
Considered the beloved fast-food restaurant in 2018 in the American Customer Satisfaction Index’s annual survey, the Chick-fil-A franchise now operates over 2,300 restaurants across the USA.
Indeed, as an heir of the billion-dollar franchise with his brother Bubba, Dan Cathy stands with a tag of a billionaire.
How Much Is Dan Cathy’s Net Worth In 2020?
After the death of his father S. Truett Cathy in 2014, Dan Cathy & his brother Bubba oversee the Chick-fil-A & are the heirs of the fast-food chain.
Indeed, with decades of successful run & goodwill, Chick-fil-A has become a money-showering franchise. According to Celebrity Net Worth, in 2019, the Cathy family with a fortune of $11 billion became one of the richest American family dynasties.
As per Forbes, as of April 9, 2020, 67-year-old Dan has a net worth of $4.5 billion.
Reportedly, in May 2019, his worth accumulation stood at $6.6 billion while in 2018, Cathy & his brother Bubba owned $5.5 billion each.
Considered one of the most profitable fast-food chains in America, each of the Chick-fil-A restaurants averaged earnings of $4.8 million.
In 2018, the annual revenue of the chain was reported to be $10 billion; indeed it’s a fruitful sum through its 2,300 restaurants launched across 47 states including big cities Washington, D.C., Los Angeles, Chicago & New York.
Dan Cathy’s Net Worth Over The Years:
|2015 (September)||$3.5 billion|
|2020 (April)||$3.4 billion|
Establishment Of ‘Chick-fil-A’ By His Father
The food venture started with Dan’s father Truett & uncle Ben, opening Dwarf Grill (later named Dwarf House) in 1946, a diner in Hapeville, Georgia.
However, after 3 years of the restaurant’s run, Truett’s brother Ben (Dan’s uncle) died in a plane crash & took the career of the business of his own.
Thereafter, in 1967, the Dwarf House was re-branded & Chick-fil-A was established. Furthermore, Truett launched an independent restaurant Truett’s Grill in 1996 in Morrow, Georgia, & it later replaced the locations of several Dwarf Houses in 2017.
Did you know? Chick-fil-A is closed on Sundays for prayers, as the Cathy family of Southern Baptist values is influenced by religious beliefs.
Dan Cathy Is An Heir Of Chick-fil-A: What Roles Did He Take?
Reportedly, during the launch of Dwarf House, Dan worked for its radio commercials & by the time, the Chick-fil-A was founded, Dan attended school.
Following graduation from Georgia Southern University in 1975, he began working his father Truett’s food-chain restaurants, doing odd jobs such as scraping chewing gum from table bottoms.
After working as director of operations, in June 2001, Dan Cathy was appointed as the COO/President of food-franchise & served until November 2013.
Shortly after, he was promoted to Chairman/President/CEO of Chick-fil-A & stepped down as President in May 2016.
Since 2016, Dan Cathy is serving as CEO & Chairman of the American fast-food chain.
Reportedly, after father Truett Cathy’s death, the College Park, Georgia-headquartered chain was left to Dan Cathy & his brother Bubba Cathy.
Meanwhile, Bubba is Senior Vice President of Chick-fil-A, Inc.& President of Truett’s Grill restaurant concepts in Georgia.
Dan’s sister Trudy Cathy White formerly served as operator of Chick-fil-A restaurant in Birmingham, Alabama & now serves as an ambassador of the franchise.
Is Father Of 2 & Lives In Atlanta
Dan Cathy lives with his wife Rhonda Palmer in Atlanta, Georgia, however, is tight-lipped regarding the detail of his residence as well as their marriage.
Together with Rhonda, Cathy became the father of 2 sons: Andrew and Ross; moreover, Dan is the grandfather to 3 grandchildren. The median house price in Atlanta is $288,746.
Reportedly, Dan Cathy was raised alongside his siblings (brother Bubba & sister Trudy) in a “modest house” in Hampton, Georgia.
However, his father owned a collection of cars: 1937 Lincoln Continental, George Glaze’s Brewster 8 Town Car, and a 1931 Duesenberg.
Father’s Vacation House Was Put For Sale
As per News-Journal Online, after a year of his father’s death, in 2015, Dan & his family members put their family vacation home in New Smyrna Beach for $2.5 million.
Located at Sugar Mill Golf & Country Club, the nine acres property named The Lodge, features a 7,210-square-foot house with 6 bedrooms, 6 full bathrooms & 2 half-bathrooms.
Moreover, along with 2 tennis courts, the estate boasted a heated swimming pool & a 3-acre private lake.
However, no official report on the sales came up.
Controversy For Opposition Of Same-Sex Marriage
Raised as a devout Southern Baptist, Dan Cathy made highlights in 2012 after he stated that he opposes same-sex marriage. Furthermore, Cathy claimed to be a supporter of conservative Christian causes.
According to a report by Equality Matters, an LGBT watchdog group, Cathy’s foundation WinShape Foundation had donated a total of $5 million since 2003 ($2 million in 2009 & $1.9 million in 2010), for the anti-gay initiatives.
Even though, Dan stated himself “guilty as charged”, he rejected the claims on the anti-gay agenda, rather told that his views were “biblical definition of the family unit.”
Charity Works & Donation
Despite a backlash due to his comments on same-sex marriage, Dan Cathy’s charity works & his commitments to his employees grab another story of reputation.
Since 1973, Cathy’s family runs a scholarship program Remarkable Futures Initiative, that provides scholarships to restaurant team members.
In 2018, they awarded $14.65 million in scholarship & records a total of $75 million.
Dan’s parents founded WinShape Foundation in the 80s- the organization donates to Christian organizations for residential camps & foster homes.
Moreover, the Cathy family’s Chick-fil-A Foundation dedicates for hunger, homelessness and education causes; reportedly, it has donated over $52 million in grants.
In 2017, the non-profit organization donated $150,000 to Salvation Army & for the Angel Tree program in Atlanta.
Dan Cathy’s Short-Bio
Dan was born on March 1, 1953, in Jonesboro, Georgia, the USA, to S. Truett Cathy & Jeanette Cathy. His birth name is Daniel Truett Cathy.
Cathy has an elder sister named Trudy & a younger brother Donald M. “Bubba” Cathy.
In 1975, he graduated from Georgia Southern University with a Bachelor’s Degree in Business Administration. Later, he obtained a Doctorate Degree from Pepperdine University School of Law.