“Papa” John Schnatter’s net worth: American pizza entrepreneur and television personality John Schnatter has a net worth of $500 million. John Schnatter is well-known as the founder, former chairman, and former CEO of the pizza delivery company Papa Johns International Inc. Schnatter became a national celebrity as a result of his frequent appearances in national advertisements concluding with the slogan “Better Ingredients. Better Pizza. Papa Johns.” In 2018, he was fired from the company.
John Schnatter was born in Jeffersonville, Indiana on November 23, 1958. After graduating from Jeffersonville High School, he earned a business degree from Ball State University. John returned to Jeffersonville following his college graduation, where his father co-owned Mick’s Tavern.
John, who worked as a pizza delivery driver during his college years, was convinced that Mick’s Tavern should also be in the pizza business.
In 1984, Schnatter sold his 1971 Camaro Z28 so that he could buy out his father’s business partner and invest $1,600 in pizza equipment. Decades later, he located the identical Camaro and repurchased it for $250,000.
In time, he took control of the entire restaurant after converting a broom closet in the back of Mick’s Tavern into a pizza-making room. Additionally, he eventually changed the restaurant’s name to Papa John’s.
John, who owned approximately 30 percent of the company’s shares when it went public in 1993, became a multimillionaire overnight. In a few decades, his investment would earn him hundreds of millions of dollars and briefly make him a billionaire.
As of this writing, Papa John’s has over 5,300 locations, 16,000 employees, and an annual revenue of $1.5 billion. Later, Schnatter would refer to his business as a “17-year overnight success story” In 2007, he was inducted into the Junior Achievement U.S. Business Hall of Fame. In 1998, he was named the National Ernst & Young Retail/Consumer Entrepreneur of the Year. In 2010, he was inducted into the Kentucky Entrepreneur Hall of Fame.
Schnatter’s company began to decline in 2012, when he publicly criticised the Affordable Care Act. This storm passed quickly, but in 2017 he created a new one by publicly blaming the NFL for his company’s poor financial performance. He believed that his revenue had decreased as a result of the NFL’s kneeling controversy and was disappointed that the league had not done more to prevent it.
He resigned as CEO in January of 2018. After derogatory remarks he made during a conference call were made public in July 2018, he resigned from the company.
Schnatter appeared on a local television news programme in November 2019. During the interview, Schnatter was perspiring and appeared bloated. He disparaged his former employer while claiming to have consumed forty pizzas in thirty days. The interview received poor reviews.
In January of 2017, John briefly held billionaire status on paper. At the time, he owned thirty percent of the company’s equity, and when the share price reached $84, his stake was worth more than a billion dollars. After a series of controversies, the stock dropped to $41 a year and a half later, bringing Schnater’s paper net worth to $500 million. In a series of transactions that generated hundreds of millions of dollars, Schnatter sold his entire remaining stake in the company in late 2019.
John and Annette’s wedding took place in 1987. Together, they have three children. After 32 years of marriage, Annette filed for divorce a few weeks after his unfortunate and bizarre news interview. The documents demonstrated that they had been separated since April of 2019. Her filing revealed that the couple has a property settlement agreement already in place. The couple owns properties in Kentucky, Utah, and Florida.
Residence of John Schnatter: Schnatter resides in a 40,000-square-foot castle within an exclusive country club in Louisville, Kentucky. The home is worth between $7 million and $10 million and features a 22-car garage with multiple levels, several pools, a private lake, and a golf course.
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