Jerry Richardson net worth: How did the former Carolina Panthers owner make his money?

Jerry Richardson, former Carolina Panthers owner, died on Wednesday night, the team announced. He was 86.

“Jerry Richardson’s contributions to professional football in the Carolinas are historic,” Panthers owner David Tepper and his wife Nicole said in a statement.

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“With the arrival of the Panthers in 1995, he changed the landscape of sports in the region and gave the NFL fans here a team to call their own. He was incredibly gracious to me when I purchased the team, and for that I am thankful. Nicole and I extend our deepest condolences to Rosalind, the entire Richardson family, and their loved ones. We wish them much peace and comfort.”

Richardson was from Spring Home, North Carolina. He played football at Wofford College and then for the Baltimore Colts from 1959-1960.

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The 86-year-old then purchased the first Hardee’s franchise in Spartanburg, South Carolina. He co-found Spartan Foods and become the CEO of Flagstar before retiring in 1995.

Jerry Richardson had a net worth of $2 billion, as per Celebrity Net Worth.

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Richardson earned the majority of his early fortune in the fast-food industry and his whole empire was launched with an NFL bonus check. In 1959, he received a bonus check of $4744 after the Baltimore Colts won a Championship and invested in the country’s first Hardee franchise.

Richardson and his college days fellow player Charlie Bradshaw launched Flagstar Foods. In a few decades, Flagstar expanded to the point where it operated 2500 restaurants with 100,000 employees.

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After George Halas, Richardson became the first former NFL player to become an owner when the Carolinas were awarded the NFL’s 29th franchise. Richardson and a group of minority partners invested $206 million, the majority of which came from Jerry’s account, to acquire the franchise rights. As of today, the Panthers are worth between $1.6 and $2 billion. The team generates $325 million in revenue per annum and $80 million in profit.