Monday, October 2, 2023

Popular Fast-Food Restaurant Company Subway Co-Founder Donates Half Of The…

Subway Fast Food Restaurant: Big news has come from Subway, the company that gives franchisees of its fast-food restaurants worldwide. The co-founder of this company, Peter Buck, who is no longer alive, donated 50% of his popular sandwich chain to a charitable foundation. This information has been given by Forbes magazine quoting his group.

According to information, the value of Peter Buck’s donation can be as much as $ 5 billion. The charitable foundation to which this donation was given is named Peter and Lucia Buck Foundation (PCLB). This charitable foundation was established in 1999 by Buck and his wife. “This gift (Peter Buck’s donation) will inspire the Foundation to vastly expand its philanthropic efforts and work for many more lives,” said PCLB Executive Director Cary Schindel. In particular, our educational opportunities for students Releasing work, for which Dr. Buck took good care of.”

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Sons also have a share in the will of the bank.

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Forbes reports that the Buck family has given at least $580 million in past donations. This announcement came after the report, which said that Subway could be sold for more than $ 10 billion.

The report states that under Buck’s will, his sons (Christopher and William) as well as PCLB Chief Financial Officer Ben Benoit have been made executors of his estate.

Peter Buck died in 2021

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Peter Buck was a nuclear physicist. He founded the sandwich chain with Fred DeLuca about six decades ago. DeLuca died in 2015 and Buck in 2021.

After Buck’s death, Forbes estimated his net worth at $1.7 billion. His foundation helps the needy in various fields including education, journalism, medicine and land conservation.

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