Danbury Resident, Peter Buck, Featured on Forbes List of World's Billionaires

Several Connecticut billionaires were featured on Forbes List of World’s Billionaires 2015.

Danbury resident, Peter Buck, 84 whose source of wealth comes from the popular Subway sandwich shops was ranked 737 on the list. Buck is ranked 259 on the list among billionaires in the United States.

According to Forbes, Buck is an alumnus of Bowdoin College. He went on to get his M.A. and doctorate in physics from Columbia University.

Buck may be a billionaire but he is modest and a romantic. Forbes reports that he’s rarely public about anything he does, but often makes it into the spotlight for his philanthropic efforts. He donated $30 to Danbury Hospital in 2014 and donated a 23.1 carat ruby named after his wife Carmen Lucia to the Smithsonian.

Buck owns Subway with Fred DeLuca, whom Buck first loaned money to in 1965 advising him to open a sub shop. The first Subway store opened in Bridgeport in 1965 and the chain now has more than 37,000 locations across the world.

While Subway does not own a single location, the shop collects 8 percent of revenue from each franchisee, Forbes reports.

Image via Bowdoin.edu

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