Successful companies started by senior citizens
Aug 21, 2024
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Sonalika group
After retiring from LIC at the age of 60, Lakshman Das Mittal founded Sonalika, a tractor company that has since become the third-largest in India by market share. His success has been recognized globally, with Mittal achieving a remarkable net worth of $3.2 billion, as featured on the Forbes list.
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KFC
Colonel Harland David Sanders, an American businessman renowned for founding KFC, launched his famous fast-food chicken franchise at the age of 65. Today, KFC is a successful global chain with over 25,000 outlets worldwide.
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McDonald's
Although initially founded by brothers Richard and Maurice McDonald, the franchise model of McDonald's was started by Ray Kroc, who opened his first McDonald's restaurant in Illinois at the age of 52. Today, McDonald's has a market capitalisation of $204.89 billion.
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GEICO
Founded by Leo Goodwin at the age of 65 during the Great Depression, GEICO has grown to become the second-largest auto insurance company in America. Established in 1936. GEICO deals in a range of auto insurance coverage options including collision, comprehensive, and property damage liability.
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The Home Depot
The Home Depot Inc., an American multinational company specialising in home improvement products, was founded by Bernie Marcus at the age of 50. Since its inception, The Home Depot has grown into one of the world’s largest companies, boasting a market capitalisation of $362.26 billion.
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Coca-Cola
Founded by John Stith Pemberton at the age of 55, Coca-Cola has evolved into one of the most widely consumed soft drinks globally. Today, Coca-Cola has a market capitalisation of $298.45 billion.
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Garmin
Gary Burrell and Dr Min Kao founded Garmin at the age of 52, initially focusing on aviation navigation instruments. The company has since expanded into various devices and is now a leading name in fitness watches, with a market capitalisation of $33.92 billion.
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