Shake Shack tycoon Danny Meyer is worth $400 million more than he was yesterday
Nicholas Kamm/AFP/Getty
Shake Shack's shares soared to $52 in early trading from their inital price of $21, adding more than $386 million to founder Danny Meyer's net worth.
Meyer owns 7,440,822 shares of Class B stock of Shake Shack, according to regulatory filings.
Meyer is already a very wealthy man.
He's the founder of Union Square Hospitality Group, which has owned more than a dozen renowned restaurants, including Union Square Café, Gramercy Tavern, and Blue Smoke.
Meyer, 56, is also the recipient of accolades such as the James Beard Foundation's Restaurateur of the Year award and Humanitarian of the Year award.
He founded Shake Shack in 2004. The chain has exploded in recent years, going from seven locations and $19.5 million in sales four years ago to 63 locations and $82.5 million in sales today.
Shake shack sells burgers, milk shakes, frozen custard and drought sodas.
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- 2 states where home prices are falling because there are too many houses and not enough buyers
- "To sit and talk in the box...!" Kohli's message to critics as RCB wrecks GT in IPL Match 45
- 7 Nutritious and flavourful tiffin ideas to pack for school
- India's e-commerce market set to skyrocket as the country's digital economy surges to USD 1 Trillion by 2030
- Top 5 places to visit near Rishikesh
- Indian economy remains in bright spot: Ministry of Finance
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market