Fred Turner Net Worth
Fred Turner had an estimated net worth of $200 million at death. Fredrick Leo Turner was an American restaurant industry executive who served as chairman and CEO of McDonald’s. He is credited with McDonald’s massive expansion, introduction of new dishes, and setting service standards for its employees.
To calculate the net worth of Fred Turner, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets.
All debts, such as personal loans and mortgages, are included in total liabilities.
Here’s the breakdown of his net worth:
| Name: | Fred Turner |
| Net Worth: | $200 Million |
| Monthly Salary: | $200 Thousand |
| Annual Income: | $10 Million |
| Source of Wealth: | Business executive |
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Early Life
He grew up in Des Moines and Chicago. In 1954, she earned a bachelor’s degree from Drake University. Turner later received honorary doctorates from Drake and from Johnson & Wales University.
After graduation, he served two years in the United States Army and got a job at McDonald’s upon his return.
Career
In 1956, he began his career at McDonald’s as a grill foreman and was quickly promoted to clerk. In 1958, he was named vice president of operations when the company had only 34 employees.
In that position, he set strict guidelines for how burgers and other products should be served at McDonald’s – including fries that “must be 7.112 millimeters thick” and how “exactly ten burgers should be made from one pound of beef.” “Quality, service and cleanliness” was his motto.
In 1967 he was promoted to executive vice president and a year later to president. In 1973 he became CEO, and in 1977 he replaced Ray Kroc at the helm of the company. Under Turner, McDonald’s expanded into 118 countries with more than 31,000 locations and sales of more than a billion burgers. Most notably, he invented the famous deep-fried chicken nuggets, the “Chicken McNuggets.”
He retired in 2004 and remained honorary president until his death. He died of complications from pneumonia on January 7, 2013, one day after his 80th birthday.
Awards and Memberships
Aon Corporation, Baxter International, and W.W. Grainger all had Turner on their boards. In 1991, he was awarded the Horatio Alger Award.
His memberships included Sigma Phi Epsilon and the Bohemian Club.
Personal Life & Wife
Turner married his Drake graduate Patricia Shurtleff on June 22, 1954, shortly after his college graduation. They had three daughters. Patricia passed away on October 9, 2000.
Fred Turner died of complications from pneumonia on January 7, 2013, one day after his 80th birthday.
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Fred Turner Quotes
I think the ability to focus is a thread that runs through so-called successful people. And that’s something that can be developed. It can be self-taught.
Fred L. Turner
You need to decide what problems, what opportunities, what projects you’re going to work on.
Fred L. Turner
You can’t work on 15 problems at the same time.
Fred L. Turner
If I had been a bricklayer I’d still have been a journeyman.
Fred L. Turner
There were around 1,000 stores when I was made president.
Fred L. Turner
We’ve got a low turnover management group and executive group who’ve grown up in the business.
Fred L. Turner
I get a bit of a kick out of exporting private enterprise and incentives.
Fred L. Turner
Work hard, use your common sense and don’t be afraid to trust your instincts.
Fred L. Turner
People who are employed in a way they don’t like – my heart cries for them.
Fred L. Turner
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