How much is John Schnatter worth?
|Date of Birth:
|23 November 1961
|United States of America
About John Schnatter
In 1984, John Schnatter started Papa John’s Pizza in a broom closet in the rear of his father’s bar, which he had transformed into a business center. Schnatter bought used pizza equipment for $1,600 with the money he got from the sale of his 1971 Z28 Camaro. He then started selling pizzas to the patrons of the bar. Because of the high demand for his pizzas, he eventually expanded his business into the adjacent location a year later. By 1993, the company began trading on the public market. After another year, it had 500 stores, and by 1997 it had launched 1,500 new locations all over the world.
In the year 1961, Schnatter was brought into the world in Jeffersonville, Indiana, by his parents, Mary and Robert Schnatter. Both of his parents worked in the judicial system in Jeffersonville, with the former holding a position in real estate. His family hails from Germany. He obtained his high school diploma from Jeffersonville High School in 1980 and his bachelor’s degree in business from Ball State University in 1983.
Evergreen Real Estate was the name of the company that Schnatter established and founded in 1996 in the city of Louisville. The corporation is the proud owner of a number of historic properties in Schnatter’s hometown of Anchorage, which is located in the state of Kentucky. Schnatter stood aside from his roles as president and CEO of Papa John’s in the beginning of 2005 but continued to serve as the company’s chairman of the board.
In 2008, he took over as CEO, and in 2010, he was briefly joined by a co-CEO. In 2007, Schnatter established a company that was to be known as Calistoga Artisan Sandwiches. In 2008, he donated a commitment of one million dollars to the Louisville Zoo in order to expand the Glacier Run attraction. In return, the naming rights to a water park that was adjacent to the zoo were given to Calistoga. In 2012, the majority of the Calistoga business was put out of operation; however, three outlets in Naples, Florida, continued to be open for business.
In 2012, Papa John’s and Schnatter attracted attention from the media as a result of comments that Schnatter made regarding the Affordable Care Act while teaching a class on entrepreneurship. Schnatter was critical of the law.
During a conference call with shareholders, Schnatter stated his opposition to the Affordable Care Act on the grounds that “our best estimate is that the Obamacare will cost 11 to 14 cents per pizza”. A research and teaching institution was established at the University of Kentucky’s Gatton College of Business and Economics thanks to a donation of $8 million from Schnatter’s charity foundation. The donation was made in December of 2015.
Additionally, in October of 2019, the foundation made a donation in the amount of $500,000 to Jeffersonville High School for the purpose of renovating its baseball field. While he was a student there, he had played on the baseball team. The stadium where baseball games are played is now known as the John H. Schnatter Stadium.
After selling his automobile and using the money from the sale to buy secondhand restaurant equipment, Schnatter launched his company in the back room of the tavern that belonged to his father. A controversy erupted following Schnatter’s comments that the National Football League (NFL), which had a business affiliation with Papa John’s, had not done enough to stop national anthem protests by NFL players and that the protests had hurt his business. On January 1, 2018, Schnatter resigned from his position as CEO of Papa John’s as a result of the controversy.