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This New Jersey Billionaire Is A Hometown Hero
Posted
August 5, 2024
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August 5, 2024
301,671
5,486
490
1.98%
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13:19Now PlayingAfter borrowing $125,000 to buy his local sub shop at age 17, Peter Cancro has built Jersey Mike’s into one of the nation’s fastest-growing fast-food brands, on track to hit nearly $4 billion in systemwide revenue this year from 3,000 locations (99% of them franchisees).
It’s also made Cancro a supersized fortune. Including both the value of the business and his share of dividends paid out over the years, Jersey Mike’s sole owner is worth an estimated $5.6 billion. That’s more than Mark Cuban or Steven Spielberg, and twice as much as Jimmy John’s founder Jimmy John Liautaud.
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