Subway co-founder Peter Buck passes away
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Saturday
January 28, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
SATURDAY, JANUARY 28, 2023
Subway co-founder Peter Buck passes away

World+Biz

TBS Report
26 November, 2021, 09:00 am
Last modified: 26 November, 2021, 01:51 pm

Related News

  • Bangladeshi student dies after being ‘pushed’ on NY subway tracks
  • Dhaka city subway project is risky, ambitious: Experts
  • China floods: Passengers stuck in waist-high water on train
  • Don't talk on the subway, say French doctors, to limit Covid-19 spread

Subway co-founder Peter Buck passes away

According to Forbes, Peter  Buck, the company's last surviving founder, left a net worth of $1.7 billion

TBS Report
26 November, 2021, 09:00 am
Last modified: 26 November, 2021, 01:51 pm
Peter Buck. Picture: Collected
Peter Buck. Picture: Collected

Subway co-founder Peter Buck died Thursday at the age of 90, the company confirmed.

"We are deeply saddened by the passing of one of Subway's founders, Dr Peter Buck. He was a shining example of a dedicated, hands-on leader, and an integral member of the Subway family," John Chidsey, CEO of Subway, said in a statement, reports the CNN.

Buck turned his initial investment of $1,000 in Subway into more than a billion dollars. With more than 40,000 locations worldwide, Subway today is now the world's largest submarine sandwich chain.

According to Forbes, Peter  Buck, the company's last surviving founder, left a net worth of $1.7 billion.

Buck was born in 1930 in South Portland, Maine. He graduated from Bowdoin College in 1952 and earned his master's and doctoral degrees in physics from Columbia University.

In 1965, Buck gave his family friend, Fred DeLuca, the idea to open a submarine sandwich shop to help the then-college freshman make money for college. Buck, who was a nuclear physicist, provided an initial investment of $1,000, and "Pete's Super Submarines" opened in Bridgeport, Connecticut. By 1974, the two owned and operated 16 shops in Connecticut and then began franchising them.

According to the food service research and consultant firm Technomic, sales at Subway's US locations have fallen in recent years. Amid competition from other fast-food companies, system-wide sales at Subway's US locations have fallen to $8.3 billion in 2020, down from $12.3 billion in 2013, its best year of the past 15, according to Technomic's analysis.

Top News / USA

subway / Peter Buck

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • How will Bangladesh pay for massive upcoming power projects this year?
    How will Bangladesh pay for massive upcoming power projects this year?
  • Photo: Mumit M/TBS
    Additional Tk2,682cr sought for Padma Bridge project
  • Now is the time to focus on FDI composition
    Now is the time to focus on FDI composition

MOST VIEWED

  • Adani Group Chairman Gautam Adani in a 2009 photo. Photo: Collected
    India's Gautam Adani: Asia's richest man in the eye of a storm
  • Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Patrick Pleul/Pool via REUTERS/File Photo
    Elon Musk, White House discuss electric vehicles
  • Photo: Collected
    2 dead, 2 missing as rain pounds New Zealand's largest city
  • Photo: Collected
    Green comet zooming our way, last visited 50,000 years ago
  • Illustration: Itziar Barrio
    Adani faces one of worst billionaire wipeouts with empire under siege
  • Photo: Collected
    Brazil police raid Bolsonaro nephew's home in uprising probe

Related News

  • Bangladeshi student dies after being ‘pushed’ on NY subway tracks
  • Dhaka city subway project is risky, ambitious: Experts
  • China floods: Passengers stuck in waist-high water on train
  • Don't talk on the subway, say French doctors, to limit Covid-19 spread

Features

Now is the time to focus on FDI composition

Now is the time to focus on FDI composition

1h | Panorama
Sketch:TBS

Why we need consumer education for consumer wellbeing

22h | Thoughts
Dr Ahsan H Mansur, Executive Director, Policy Research Institute. Illustration: TBS

Twin shocks call for stronger domestic policy response

22h | Thoughts
December-er shohor, taxi taken for airport and the Park Street bathed in lights. Photo: Jannatul Naym Pieal

Exploring Kolkata on foot, empowered by Google Maps

23h | Explorer

More Videos from TBS

Kajol’s road paintings bring change in Gafargaon

Kajol’s road paintings bring change in Gafargaon

1d | TBS Stories
Carew & Company witnessed a remarkable growth

Carew & Company witnessed a remarkable growth

1d | TBS Stories
Gavi may have to leave Camp Nou

Gavi may have to leave Camp Nou

12h | TBS SPORTS
After all the controversies, how is Shah Rukh Khan's ‘Pathaan’?

After all the controversies, how is Shah Rukh Khan's ‘Pathaan’?

14h | TBS Entertainment

Most Read

1
Picture: Collected
Bangladesh

US Embassy condemns recent incidents of visa fraud

2
Four top bankers arrested in DSA case filed by S Alam group 
Bangladesh

Four top bankers arrested in DSA case filed by S Alam group 

3
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

4
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

5
A frozen Beyond Burger plant-based patty. Photographer: AKIRA for Bloomberg Businessweek
Bloomberg Special

Fake meat was supposed to save the world. It became just another fad

6
Representational Image
Banking

Cash-strapped Islami, Al-Arafah and National turn to Sonali Bank for costly fund

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]