What is Dan Cathy's Net Worth?
Dan Cathy is an American businessman who has a net worth of $8 billion. Dan Cathy is the chairman of fast-food restaurant chain Chick-fil-A, which was founded and expanded by his father, S. Truett Cathy. For many years Chick-Fil-A was owned in equal thirds by Dan, his brother Bubba Cathy and their father Truett. Upon Truett's death in 2014, Bubba and Dan became equal 50/50 owners.
Chick-fil-A currently has more than 2,900 locations. The Atlanta-based chain generates north of $6 billion in annual revenue. All locations are famously closed on Sundays.
Early Life
Daniel Truett Cathy was born on March 1, 1953, in Jonesboro, Georgia, the first child to Jeanette and S. Truett Cathy. His father had just recently opened a restaurant called Dwarf House. Dan has a brother, Bubba, and sister, Trudy. The family also fostered numerous children over the years.
Cathy started out doing radio commercials for the family Dwarf House restaurant in Hapeville, Georgia, in the 1960s while attending local schools. Around that time, his father was establishing additional restaurants around the Atlanta area and throughout Georgia which would become the start of the franchise chain known as Chick-fil-A.
Chick-fil-A
Dan Cathy graduated from Georgia Southern University in 1975 with a bachelor's degree in business administration and began working full-time as director of operations for Chick-fil-A. In 2013, Dan was promoted to chairman and CEO.
In late 2021, Dan Cathy stepped down as CEO of Chick-fil-A Inc. but remained Chairman of the Board. Chick-fil-A now has over 2,900 stores which are closed on Sundays. The business is run by second and third generation family members with Dan and Don "Bubba" Cathy in charge. The Cathy family has an $11 billion fortune.
Despite the company's stance to not open on Sundays, Chick-fil-A broke tradition in December 2015 for a good cause. The Hartsfield-Jackson Atlanta International Airport lost power, stranding thousands of passengers. So Atlanta mayor Kasim Reed took action and called upon Chick-fil-A to make sandwiches and deliver them to an emergency operations center. Chick-fil-A responded and donated more than 5,000 meals to stranded passengers. It wasn't the first time the restaurant chain has gone above and beyond for customers as they take pride in serving communities in need.
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Personal Life
Dan Cathy is married and has two children. He and his family currently reside in Atlanta, Georgia.
Cathy holds honorary doctorates from the University of West Georgia, Anderson College, Carver College, and Pepperdine University. His family runs the WinShape Foundation, a non-profit that supports a group of Southern Baptist ministries.
Cathy once told a story about racism and repentance during a discussion at Atlanta's Passion City Church and then shined the shoes of African-American musician Lecrae Moore saying that the world needs to have an "apologetic heart."
Controversy
Cathy has said that he disagrees with same-sex marriage which caused controversy. Tax records in 2011 showed that Chick-fil-A operators, the WinShape Foundation, and the Cathy family spent millions of dollars to defeat same-sex marriage initiatives and provide conversion therapy. In March 2014, Cathy said it was a mistake for the WinShape Foundation to get involved in and support political and social agendas. But despite his statement, Cathy continued to contribute to campaigns focused on his ideological political agenda.
In June 2019, it was reported that the National Christian Charitable Foundation (NCF), of which Cathy is a major donor, was funding opposition to the Equality Act.
