John Schnatter, famously known as “Papa John,” is an American pizza entrepreneur and television personality with a net worth of $400 million. He is the founder, former chairman, and former CEO of Papa John’s International Inc., a major pizza delivery business. Schnatter gained national fame through his appearances in Papa John’s commercials, which always ended with the slogan “Better Ingredients. Better Pizza. Papa John’s.” He exited the company in 2018 and sold his entire stake in 2019, netting around $500 million in cash before taxes and his divorce settlement.
| Papa John net worth | $400 Million |
| Date of Birth | November 23, 1958 |
| Place of Birth | Jeffersonville, Indiana |
| Nationality | American |
| Profession | Pizza Entrepreneur, Television Personality |
Early Life
John Schnatter was born on November 23, 1958, in Jeffersonville, Indiana. After graduating from Jeffersonville High School, he earned a business degree from Ball State University. Following college, Schnatter returned to Jeffersonville, where his father co-owned Mick’s Tavern. Drawing from his experience as a pizza delivery driver during college, Schnatter persuaded his father to introduce pizza to Mick’s Tavern’s menu.
John Schnatter Pizza Empire
In 1984, John Schnatter sold his 1971 Camaro Z28 for $2,800 to raise funds to buy out his father’s business partner and invest $1,600 in pizza equipment. He converted a broom closet at the back of Mick’s Tavern into a pizza-making area, eventually taking over the entire restaurant and rebranding it as Papa John’s.
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Papa John’s went public in 1993, making Schnatter a multi-millionaire overnight as he owned around 30% of the company’s shares at the time of the IPO. Over the years, his stake brought him hundreds of millions of dollars, and he even briefly achieved billionaire status on paper.
As of now, Papa John’s has more than 5,300 locations, employs 16,000 people, and generates $1.5 billion in annual revenue. Schnatter describes his business journey as a “17-year overnight success story.” He has received numerous accolades, including induction into the Junior Achievement U.S. Business Hall of Fame in 2007, the National Ernst & Young Retail/Consumer Entrepreneur of the Year award in 1998, and induction into the Kentucky Entrepreneur Hall of Fame in 2010.
John Schnatter Downfall
Schnatter’s downfall began in 2012 when he criticized the Affordable Care Act publicly. The controversy blew over, but another one emerged in 2017 when he blamed the NFL’s kneeling controversy for Papa John’s poor financial performance. He stepped down as CEO in January 2018 and resigned from the company entirely in July 2018 following the publicization of disparaging comments he made on a conference call.
In November 2019, Schnatter made a controversial appearance on a local news program, where he appeared sweaty and bloated and claimed to have eaten 40 pizzas in 30 days. The interview was poorly received.
John Schnatter’s Stock Holdings
From the 1993 IPO onward, John Schnatter owned 30% of the company’s equity, roughly 10 million shares. He became a billionaire briefly in January 2017 when the stock price reached $84, making his shares worth $840 million. However, after a series of controversies, the stock dropped to $41, reducing his net worth to $500 million. Throughout 2019, Schnatter sold large portions of his equity, generating hundreds of millions in cash. By late 2019, he had sold his remaining 2.9 million shares for a windfall of $170 million. Had he retained his 10 million shares, they would have been worth $1.3 billion when the stock price hit $130 in late 2021.
Personal Life
John Schnatter married Annette in 1987, and they have three children. Annette filed for divorce in late 2019 after 32 years of marriage, revealing that they had been separated since April 2019. The divorce filings listed numerous assets, including real estate, aircraft, and shares of Papa John’s stock.
Real Estate
According to the divorce filings, John and Annette co-owned three residential properties in Anchorage, Kentucky, a mansion in Utah, and a $6 million condo in Naples, Florida. They also own a $23 million luxury condo at a Deer Valley ski resort in Utah. Additionally, John owns 20 investment properties through his real estate investment firm, Evergreen Real Estate LLC.
John Schnatter’s Louisville Mansion
John Schnatter’s most famous property is a 20,000-square-foot mansion, dubbed the “Papa Castle,” located on 15 acres within an exclusive Louisville, Kentucky country club. The mansion, valued between $7-10 million, features a 22-car multi-level garage, several pools, a private lake, and a golf course. Mitt Romney once remarked on the mansion’s grandeur during a fundraiser, emphasizing the entrepreneurial spirit of America.
John Schnatter’s Private Jets
The divorce filings also revealed that Schnatter owns two aircraft through Hampton Airways, Inc.: a Bell 429 GlobalRanger helicopter valued between $4-6 million and a Dassault Falcon 2000EX private jet valued between $9-12 million.
Papa John net worth
Papa John net worth is $400 Million.
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