A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide for the high-network-worthy investor and consumer. Register to receive future editions, directly to your inbox. Andrew and Peggy Cherng earned their billions from Food Court Stalwart Panda Express, which they founded in 1983. The Cherngs have since been extensively past the iconic Orange chicken of the chain and invested in the will of only salad, Whataburger and Bojangles. It goes without saying that entrepreneurs are attracted to the industries that have made them rich, but the Cherngs have diversified their fortune. In 2016 they hired two leverage veterans to run the alternative investments of their family office, Cherng Family Trust. That unity is now a stand -alone company, CFT Capital Partners, which still manages the alternative assets of the Cherngs and Fortnite parent Epic Games and hair care brand Wella counts under its investments. CFT Capital Partners manages more than $ 3 billion in assets and in August a fund of $ 781 million with the Family Office as its Anker investor. Cherng Family Trust is one of the more than 100 family agencies built on fortunes of food and drinks, according to data that is only provided to CNBC by Fintrx. This cohort manages at least $ 118 billion combined, according to the private power information platform. Here, five family agencies were born from Restaurant Chains for Households: Ruby Tuesday founder Sandy Beall takes a practical approach with his private investment firm. BEALL sold the informal food chain to Morrison Restaurants Inc. In 1982 for $ 15 million in cash and shares, and worked to run the parent company. In 2012 he withdrew from Ruby Tuesday and founded Ball Investments. With a few exceptions, such as an investment in Sunscreen Brand Supergoop, BEALL Investments focuses on hospitality, supporting growing restaurant chains such as & Pizza and Zeege dishes. Ball also owns high-end resorts in the Great Smoky Mountains of East Tennessee and the Blue Ridge Mountains in North Carolina. Almost two years ago he became a majority owner of Windham Mountain Club in the Cats skills region in New York. About the pond, the London -based Addition Capital was strayed far from the roots of its director. Lord Rumi Verjee, a British entrepreneur born in Ugandan, earned his fortune that had the franchise rights on Domino's pizza in the UK. He sold the importance of Domino in 1989 and then invested in other companies such as Professional Soccer Team Waterford FC and the fine Chinese brand Thomas Goode. Verjee's son Jay founded Addition Capital in 2018 to manage the direct investments of the family. Addition focuses on small and medium-sized B2B companies in the UK with an interest in health care, financial services and technology. The company builds up an online educational company, after taking over a vocational training provider in 2021, has taken over the name IT Academy+and has taken over another online publisher in April. The Ilitch family behind Little Caesars used the return of the six decades-old pizza chains to build a rich about professional sports and casinos. Through a subsidiary, North Lots Investments, the Ilitch Family Office invests in a wide range of assets, including private and public markets, as well as credit and real estate. Five years ago, the company Tenda, its own insurance company, to offer health coverage, liability protection and other types of insurance for family members, employees of the family office and Ilitch companies. Tenda has since opened its doors for external customers and other family agencies. Chick-Fil-A, perhaps the most prominent private fast food chain, is owned by one of the richest families in America. Late Patriarch S. Truett Cathy founded the baked chicken chain in 1967 and enriched its offspring to an amount of $ 33.6 billion according to the estimate of Forbes. The Cathy Family Office is housed in the Chick-Fil-A head office with head office in Atlanta. The Cathys use a “lead of the family services” to keep the three generations of the family connected. Beth Chapman, who a Ph.D. And Master's Degree in organizational behavior and HR management, runs a family book club, sets family and business news updates for the Cathys every two months and practices communication skills with the family with case studies and simulations a few times a year, Chapman said. “If it is a family business, communication can be a challenge, because when you leave the business conversation, you are still cousins, brothers and sisters,” she said in an interview with the Professional Professional. “The biggest thing is practicing.”
A chick-fil-a restaurant in New York, New York.
Smith Collection/Gado | Archive photos Getty images
A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide for the high-network-worthy investor and consumer. Register To receive future editions, directly to your inbox.
Andrew and Peggy Cherng earned their billions from Food Court Stalwart Panda Express, which they founded in 1983.
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