by Nate Wooley | February 5, 2013 10:35 am
Lynsi Torres is one of the youngest billionaires in the world, and she owes it to burgers.
Torres is the owner and president of popular In-N-Out Burger. She’s also one of the youngest mega-rich woman in the world, reports Bloomberg. She came to own the chain as the sole family heir following the death of her grandmother in 2006. The news service estimates her wealth at $1.1 billion.
Torres didn’t found the popular chain. Her grandparents, Harry and Esther Snyder did, starting with a single restaurant in Baldwin Park, Calif. in 1948. From that, the chain has grown to have a cult-like following, with stores opening to long lines of devoted diners. Even star investor Warren Buffet once said that he’d like to own the company.
In-N-Out Burger is privately held, so any gauge of Torres’ fortune is an estimate, as the chain doesn’t share its financials.
In response to Bloomberg’s estimate, In-N-Out vice president Carl Van Fleet said, “In-N-Out Burger is a private company and this valuation of the company is nothing more than speculation based on estimates from people with no knowledge of In-N-Out’s financials, which are and always have been private.”
Source URL: https://investorplace.com/2013/02/30-year-old-billionaire-has-burgers-to-thank-for-her-fortune/
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