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 Alyne Queener |
| Children | Barbara Massey Rogers |
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]
Early life
Massey was born in 1904 in Tennille, Georgia.[1] He graduated with a degree in pharmacy from the University of Florida.[2][3]
Business career
Massey 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 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]
In 1964, Massey acquired 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.
In 1968, Massey 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]
Massey 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]
Massey was an initial investor in the Corrections Corporation of America in the 1980s.[4]
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 had a daughter, Barbara Massey Rogers and three grandchildren.[1]
Death
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 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 Glenn Fowler, Jack C. Massey, an Entrepreneur In Hospitals and Food, Dies at 85, The New York Times, February 16, 1990
- 1 2 3 4 5 Belmont University biography
- 1 2 3 4 5 6 7 8 University of Florida Foundation
- ↑ Harmon L. Wray, Jr., Cells for Sale, Southern Changes: The Journal of the Southern Regional Council, Volume 8, Number 3, 1989
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