What’s the Net Worth of Joan Kroc?
Many people rose to fame with their great works whereas others come in front due to their relationship with celebrities. Joan Kroc comes on the radar of both. She gained attention after her marriage with the CEO of McDonald’s and later on became a person to remember from her social works.
Today, we will provide you detailed information about Joan Kroc‘s life. So, stay tuned!
Net worth of Joan Kroc
Joan Kroc, who was the third wife of the McDonald’s chairman Ray Kroc, after the death of her husband, collected a hefty amount of wealth, which comes around $1.7 billion.
Yes, you guys got it right and don’t be in shock; she, in her days, was a billionaire. Her income drastically moved upwards after the death of Ray Kroc. So, before calculating Joan’ wealth, we need to know the portfolio of the late chairman of McDonald’s.
Wealth Accumulated by Ray Kroc
As mentioned above, Ray Kroc owned the fast-food company McDonald’s in his time. He held a portfolio of $600 million at the time of his death. He was a successful entrepreneur and businessman.
Ray held the Major League Baseball team San Deigo Padres from 1974 until he passed away in 1984. He also owned around sixteen thousand real estates from his Mcdonald’s franchise business, which used to generate income of $700 million annually.
Wealth Accumulated by Joan Kroc
After the death of Joan’s former husband Ray Kroc, his hard-earned piles passed on to Kroc. She became the master of the billions of worth assets owned by the late chairman. So, her net worth at the time of his husband’s death came around $600 million in 1984.
Joan began to pass down those massive net worth to different social needs. At first, she tried to donate the pro baseball team, San Diego Padres, to the city of San Diego. But Major League Baseball rules and regulation denied her action. So, she sold the team in 1990 and started her work in philanthropy.
Joan’ Work in Charities
In 1985, the billionaire lady gave away $18.5 million to the San Diego Hospice Corporation, which is now named San Diego Hospice and The Institute for Palliative Medicine. Her donation in that institution helped them create a multi-purpose hospice center. Joan’ contribution covered the expenses of planning, land, and other construction costs.
Joan further proceeds her charity work through, Kroc Center, which is a huge Salvation Army community center. She aided the Salvation Army, donating them a massive amount of $87 million. Later on, she even gifted the group with $1.6 billion that was recorded as the tremendous one-time gift ever.
Kroc’ also helped the Ronald McDonald Children’s Charities and the non-profit organization, Ronald McDonald Houses. She supported different actions performed by them related to performing various programs to the health and well-being of children.
Also See: Net Worth of Connor Swindells
As philanthropy, the kind-hearted lady made an enormous contribution of $225 million for National Public Radio, including her $5 million bequests to KPBS. She also funded $50 million to the University of Notre Dame’s Joan B. Kroc Institute for International Peace Studies. Subsequently, she also donated $10 million for the Zoological Society of San Diego, which runs the San Diego Zoo and the San Diego Zoo Safari Park.
The third wife of Ray Kroc, Joan preferred to donate her wealth in an anonymous manner, rather than to take credit on her works.
Kroc gave away $15 million to the citizens of Grand Forks, North Dakota, and East Grand Forks, Minnesota, when they were affected by a devastating flood in 1997.
Joan was an Angel for those people, as no source of the donation came out. Later on, her name revealed in the media when reporters tracked down Kroc’s Jet, which she used to fly into the area to observe the damage.
In her long life, Joan was also active in politics. She showed her generosity from her involvement in political sectors too. She spent millions of dollars from her pocket to support nuclear disarmament.
Kroc always stood against nuclear weapons and wars. So, a certain portion of her donation related to nuclear demobilization was focused on reprinting the book Missile Envy by Helen Caldicott.
Caldicott was an Australian physician, author, and anti-nuclear advocate; as a result, Joan monetizing Helen’s book helped many people to be educated about different problems arising due to nuclear conflicts.
Achievements and Honor
It isn’t surprising to know Joan being honored for her work as she donated and gifted many portions of her wealth to the mass. Kroc got inducted into the San Diego women’s Hall of Fame in the year 2004.
The program was hosted by the Commission on the Status of Women, the University of California, San Diego Women’s Center, Women’s Museum of California, and San Diego State University Women’s Studies.
Joan’ Relationship History
As noted above, Joan was the wife of the late billionaire, Ray Kroc. But she was the third partner of Ray, so before her, he had a family with Ethel Fleming (1922-1961) and Jane Dobbins Green (1963-1968). Likewise, Joan was also married to Rawland Smith.
Joan Smith to Joan Kroc
The first married life of Joan was with Rawland. He was a Navy veteran who later became a McDonald’s Franchisee. His involvement with the fast-food company became the path from which Joan and Ray met each other.
With Smith, she gave birth to her beautiful daughter Linda Smith in 1946. But things between Rawland and Joan started to become complicated and they separated. Later, she engaged with Korc after he legally detached with Jane Dobbins Green.
Personal Life of Joan Kroc
Kroc was born in West St. Paul, Minnesota. She was born on August 27, 1928. Joan’ father, Charles Smart Mansfield was a storekeeper and later worked as a railroad telegraph operator and salesman. Her mother, Bonnebelle Mansfield, was a successful violinist who was from Luck, Wisconsin.
Cause of Joan Kroc’ Death
Everyone who was touched by her social works might know the day when Joan died. In her last days, she was fighting against cancer. She lost her life with a cancerous growth in her brain at the age of 75, on October 12, 2003.
Kroc remains were cremated and entombed at the El Camino Memorial Park in Sorrento Valley, San Diego.
- Kroc is featured in the Museum’s “California Remarkable Women” exhibition, founded by Shriver in 2004.
- In the 2016 film, The Founder, Kroc is portrayed by actress, Linda Cardellini.
- Kroc ranked #121 on Forbes magazine’s list of America’s wealthiest people in 2003.
- Joan’ husband, Ray Kroc was included in the 100 lists of the TIME as the world’s most influential builders and titans of industry.
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