Jack C. Massey
| Jack C. Massey | |
|---|---|
| Born |
June 15, 1904 Tennille, Georgia |
| Died |
February 15, 1990 Palm Beach, Florida |
| Education | University of Florida |
| Occupation |
Businessman Philanthropist |
| Spouse(s) | Elizabeth Polak |
| Children | Barbara Clark |
Jack Carroll Massey (1904-1990) was an American venture capitalist and entrepreneur who owned Kentucky Fried Chicken, founded Hospital Corporation of America, and owned one of the largest franchisees of Wendy's.[1][2]
Biography
Early life
Massey was born in 1904 in Tennille, Georgia.[1] He began his business career working as a delivery boy in his uncle's drugstore.[1] He then received a pharmacist's license when he was 19 and bought his first drugstore when he was 25.[1][3] He graduated with a degree in pharmacy from the University of Florida.[2][3] He built the store into a pharmacy chain, selling it six years later.[1][3]
After that, in 1961, he entered the surgical supply business.[1][2][3] He sold that business to the A.S. Aloe division of the Brunswick Corporation for $1 million.[1][3]
Kentucky Fried Chicken
In 1964, after a career in the medical supply industry, he bought Kentucky Fried Chicken from its founder, Harland Sanders, for $2 million.[1][2][3] Massey embarked on a rapid expansion program, growing the business to approximately 3,500 franchises and grossing $700 million in annual revenue.[1] Seven years later he sold the company for $239 million.
Hospital Corporation of America
In 1968, he founded Hospital Corporation of America with Thomas F. Frist, Sr. and Thomas F. Frist, Jr..[1] The company became the nation's largest chain of for-profit hospitals and Massey left active management in 1978.[1]
Wendy's
After 1978, he transformed Winners Corporation, one of the largest franchisees of Wendy's hamburger outlets into a major fast-food franchise operation.[1][3] Finally, he listed Volunteer Capital Corporation (a holding company of Wendy's Restaurant fast food franchises) on the New York Stock Exchange.[1]
Philanthropy
On November 1, 2005, Belmont University honored him and his family who donated $1 Million Gift to endow a Financial Trading Room named in his honor. The Jack C. Massey Graduate School of Business at Belmont University is named in his honor.[1][2] Additionally, he was the founder of the Baptist Hospital in Nashville.[1]
He was inducted into the Junior Achievement U.S. Business Hall of Fame in 1987. The University of Florida has named the Jack C. Massey Professorship Fund for him.[3]
Personal life and death
His first wife, Elizabeth Polak died in 1969.[1] He later married Alyne Queener.[1] He has a daughter, Barbara Clark and three grandchildren.[1]
He died on February 15, 1990 in Palm Beach, Florida.[1]
Bibliography
- Bill Carey, Master of the Big Board: The Life, Times and Business of Jack Massey (Cumberland House Publishing, 2005)
References
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 Glenn Fowler, Jack C. Massey, an Entrepreneur In Hospitals and Food, Dies at 85, The New York Times, February 16, 1990
- ↑ 2.0 2.1 2.2 2.3 2.4 Belmont University biography
- ↑ 3.0 3.1 3.2 3.3 3.4 3.5 3.6 3.7 University of Florida Foundation
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