Jerry Richardson, the former owner of the Carolina Panthers, passed away on 1st March 2023.
The 86-year-old businessman, who sold the NFL team in 2018, was worth $2 billion as estimated by Celebrity Net Worth. This figure put him in the top 500 richest people in the world, and the top 200 in the United States.
The Early Life and Career of Jerry Richardson
Jerry Richardson was born on July 18, 1936, in Spring Hope, North Carolina. He grew up in a large family with modest means, where his father worked as a sharecropper and his mother was a homemaker. Despite their humble beginnings, Richardson’s parents instilled in him a strong work ethic and a determination to succeed.
After graduating from high school, Richardson attended Wofford College in Spartanburg, South Carolina, where he played football and majored in economics. He demonstrated his leadership skills as a football captain, leading his team to an undefeated season in his senior year. After graduation, Richardson went on to pursue a career in the fast food industry.
In 1960, Richardson co-founded Hardee’s with Leonard Rawls, a popular fast food chain that served burgers and other American favorites. Richardson played a key role in the success of the business, helping it to grow into a national brand. He served as the CEO of Hardee’s until 1991, when he retired from the position to focus on his other business ventures, including his ownership of the Carolina Panthers.
Richardson’s early life and career were a testament to the power of hard work and determination. Despite growing up with limited resources, he was able to achieve significant success in both the business and sports worlds. His entrepreneurial spirit and leadership skills paved the way for his future accomplishments and allowed him to leave a lasting legacy in the world of sports and business.
Jerry Richardson’s Net Worth
Jerry Richardson’s net worth has been estimated to be around $2 billion. Much of his wealth can be attributed to his success in the fast food industry, particularly his co-founding and leadership of Hardee’s, which grew to become one of the largest fast food chains in the United States during his tenure.
Additionally, his ownership of the Carolina Panthers brought him considerable wealth, as the team was valued at $2.3 billion at the time of his sale in 2018.
Jerry’s Business ventures
Jerry Richardson’s business ventures were diverse and successful throughout his career. His most notable venture was his co-founding and leadership of Hardee’s. Under his leadership, Hardee’s grew into a national brand, with thousands of locations across the United States. Richardson’s expertise in the fast-food industry helped to establish Hardee’s as one of the most successful and recognizable chains in the country. In 1997, he sold his share of Hardee’s to another company for $327 million.
Richardson used his Hardee’s earnings to purchase the Panthers in 1993 for $206 million. He oversaw the team’s operations until he sold it in 2018. Under his leadership, the Panthers experienced significant success on the field, including two Super Bowl appearances in 2004 and 2016, and became a beloved franchise in the Carolinas.
Despite his success, Richardson’s tenure as Panthers owner came to an abrupt end in 2018. The NFL launched an investigation into allegations of workplace misconduct by Richardson, including inappropriate comments and behavior toward female employees. Richardson chose to sell the team rather than fight the allegations, and it was eventually purchased by hedge fund manager David Tepper for a record $2.275 billion.
The sale of the Panthers made Richardson one of the richest owners in sports history. He reportedly received a payout of more than $2 billion from the sale, which helped to boost his net worth to its current level. Richardson then retired from public life and never commented on the allegations against him.
Richardson’s Personal Life
Jerry Richardson was known not only for his business successes but also for his personal life. He was married to Rosalind Sallenger Richardson for over 50 years and they were parents to three children.
The couple was known for their philanthropy, supporting various causes throughout their community and beyond. In particular, they established the Richardson Family Art Museum at Wofford College, where Richardson had attended, and the Rosalind S. Richardson Center for the Arts in Charlotte, which is named after his wife.
Legacy of Jerry Richardson
Jerry Richardson’s net worth is a reflection of his successful business career and ownership of the Carolina Panthers. While his departure from the NFL was controversial, his story highlights the potential for massive wealth accumulation in the world of professional sports. At the same time, it underscores the importance of treating employees with respect and creating a positive work environment.
As the debate over wealth concentration continues, Richardson’s legacy will be remembered as one of the most successful and controversial figures in sports and business history.