Let’s take a closer look at Leroy Raffel’s net worth and the sources of his wealth. Leroy is the founder of Arby’s restaurant, from which he has earned substantial money. During his time, he gained recognition for his million-dollar net worth and for establishing Arby’s as a leading fast-food franchise.
Wikipedia And Biography
Leroy Raffel was born in Zanesville, Ohio, on March 13, 1927, and passed away in Miami on March 21, 2023. He died at home at the age of 96, just months after the passing of his wife earlier that same year. Below is a detailed review of his life and biography.
Key Information
| Attributes | Detail |
|---|---|
| Full Name | Leroy Brown Raffel |
| Date of Birth | 13 March 1927 |
| Place of Birth | Zanesville, Ohio |
| Current Residence | Zanesville, Ohio |
| Age | 96 (Died) |
| Profession | Restaurateur |
| Education | Graduation in Accounting |
| University | University of Pennsylvania |
| Father | Jacob Raffel |
| Mother | Ann Raffel |
| Gender | Male |
| Marital Status | Married |
| Current Wife | Shirley (Shankey) Balbot Raffel |
| Children | 4 |
| Siblings | 1 |
| Religion | Christian |
| Ethnicity | White |
| Sexuality | Straight |
| Height | 6’6” |
| Weight | 72 kg |
| Sun Sign | Pisces |
Leroy Raffel Net Worth
Leroy Raffel was the owner of Arby’s restaurant and was also handling his job and multiple other projects that helped him make a good amount each month. That’s why he earned millions in his life, and his total net worth is above $18 Million. But after his death, his total net worth was distributed between his family and children.
People may also read:
Jerry Murrell Net Worth – Five Guys Founder
Leroy Raffel Education
Raffel came from an educated family and received a high-quality education himself. He attended the Riverside Military Academy and the Wharton School of Business for his advanced studies. He then moved on to the University of Pennsylvania, where he graduated with a degree in accounting. Similarly, his brother Forrest studied at Cornell University’s School of Hotel Administration, and together, they decided to start a restaurant business.
Leroy Raffel Age And Family
Leroy Raffel was 96 years old at the time of his death. He came from a loving, well-educated, and affluent family. His mother was Ann Raffel, and his father, Jaco Raffel, passed away during Leroy’s lifetime. Leroy married Shirley Ballot Raffel and enjoyed 73 years of marriage together. The couple had four children: Janet, Jim, Ken, and Nancy, and they also had nine grandchildren.
Arby’s Founders
The first Arby’s restaurant was founded by brothers Forrest and Leroy Raffel on July 23, 1964, in Boardman, Ohio. The idea for the restaurant emerged while both brothers studied at a university focused on hotel and restaurant management. Their dream became a reality through their hard work and dedication.
Both brothers initially decided to name their restaurant “Big Tex,” but since another establishment already took the name, they chose “Arby’s” instead. Their first Arby’s location served roast beef, sandwiches, potato chips, hamburgers, and drinks. Over the years, the restaurant has expanded its menu and opened numerous branches, launching thousands of franchises worldwide.
Arby’s Net Worth
During Lorye’s life, he sold the Arby’s restaurant for just $18 million, but now it is worth ten times that amount. Arby’s net worth exceeded $4 billion at the time of the sale, while its valuation was over $1 billion. Additionally, the company’s monthly revenue is approximately $5 billion, and its annual revenue is nearing $60 billion, with yearly growth increasing.
During Lorye’s life, he sold the Arby’s restaurant for only $18 million, but its current value is ten times that amount. Arby’s net worth exceeded $4 billion at the time of the sale, and its valuation was over $1 billion. The company’s monthly revenue is approximately $5 billion, while its annual revenue is approaching $60 billion, with growth continuing to increase yearly.
Net Worth Resources Of Leroy Raffel
Leroy’s net worth is primarily derived from his involvement in the restaurant industry, particularly with restaurant franchises. He and his brother found success in this business, which motivated them to stick with their Arby’s restaurants instead of pursuing other income sources. Below, you can find additional details about Leroy’s net worth resources.
Arby’s owner
Leroy Raffel was the first founder and owner of Arby’s Restaurant. He earned billions of dollars in income from this single food chain and then sold it for $18 million before his death. His most of net worth was from his first founded Arby’s restaurant which helped him become millionaire in a less time.
Franchise
After achieving success in Arby’s restaurant, Leroy moved towards the launching of multiple franchises in multiple cities and countries so he increased his food business. He builds thousands of franchises till 2023 and makes them all successful. These franchises also help in maximizing his net worth.
Multiple Restaurants owner
Raffel brothers not only stick to one restaurant, but after making it successful, they move towards launching multiple arbys in different cities and countries. This number of Arby’s restaurant branches results in increasing raffle and Forrest’s net worth and makes their name in the restaurant’s world.
People may also read:
Shake Shack Founder Net Worth
Social Accounts of Arby’s
Leroy, a well-known restaurant owner, was active on social media and had created accounts on all major platforms. He frequently shared updates about his restaurant, including food offerings, personal insights, and the latest news. However, after his passing in 2023, these accounts became inactive and were no longer maintained. Nevertheless, you can still visit and follow him on any of these platforms:
| Social Accounts | Links of Social Accounts |
| https://www.facebook.com/arbys | |
| https://www.linkedin.com/ | |
| https://twitter.com/Arbys/ |
FAQs
How much is Arby’s worth?
Arby’s net worth is more than $1.7 billion, increasing to double each year.
Who is the founder of Arby’s?
Two brothers, Forrest and Raffel, founded the first-ever Arby’s restaurant.
Where did Arby originate?
This restaurant originated in Boardman, Ohio, in 1964.
What is Leroy’s birthplace?
Leroy was born in Zanesville, Ohio, on 13 March 1927.
Who is the CEO of Arby’s?
The current CEO of Arby’s is paul brown, and he is franchising thousands of Arby’s restaurants.
Who is Leroy Raffel’s wife?
Shirley Ballot Rafell has been Leroy Reffel’s wife for 73 years.