Peter Buck
Overview
- Source of Wealth
- Subway sandwich shops
- Industry
- Food & Beverage
- Residence
- Organization
- Co-Founder at Doctor's Associates (Subway)
- Education
- Bowdoin College (Bachelor of Arts/Science)Columbia University (Doctorate)Columbia University (Master of Arts)
- Children
- 1
Biography
In 1965, nuclear physicist Peter Buck loaned his friend's son, Fred DeLuca, $1,000 to start a sub shop in Bridgeport, CT.
A year later, the pair cofounded Doctor's Associates Inc. in 1966, the franchisor of Subway restaurants.
Subway, with locations in more than 100 countries, saw revenues of $959 million in 2019.
DeLuca died in 2015 and his sister ran the business for a few years. A new CEO came on board in May 2018.
In the past five years, Buck has donated $216 million toward his PCLB Foundation, which supports organizations that focus on family issues.
About
Subway is entirely franchise owned with more than 44,000 locations around the world.
The first sub shop DeLuca opened with Buck's money in 1965 was originally named Pete's Super Submarines. The name Subway was not used until 1968.