Joseph Grendys’s profile picture

Joseph Grendys

Joseph Grendys’s profile picture
Net worth 2018: $2.88 Billion
Residence: Chicago, Illinois
Country: United States
BirthDay: 1961
Education: Bachelor of Arts / Science, Loyola University Chicago
BIOGRAPHY

Joseph Grendys was bornon 1961 in Chicago, Illinois, United States. Joseph Grendys is #816 in List Billionaires People In The World. Joseph Grendys runs Koch Foods, a poultry processor that slaughters, ships and sells chicken under its own brands and through private label products. The $3.3 billion (estimated revenues) business makes buffalo wings and chicken strips for Walmart and nuggets for Burger King. Grendys joined Koch in the mid-1980s after graduating from Loyola University, lured by a 50% equity offer from original owner Fred Koch. At the time it was just a one-room shop with 13 employees, and its main business was taking bones out of chicken and cutting up the meat. Grendys bought out his former boss in 1992 and vertically integrated the company by gobbling up smaller feed mills and slaughterhouses.

NET WORTH STATISTIC
2014

$2.4 Billion

2015

$1.8 Billion

2016

$2.1 Billion

2017

$2.2 Billion

2018

$2.88 Billion

TIMELINE
2015

As of October 2015, Forbes estimated his net worth at US$1

2014

In a 2014 interview, Grendys stated that he planned to acquire more companies and that he might branch out into another protein, but that he was "not sure what that protein would be yet"

2011

In 2011, Koch employed 14,000 people, had an annual turnover of $2

1984

In 1984, he received a bachelor's degree in Finance and Marketing from Loyola University

1980

Grendys started full-time at Koch Foods in the mid-1980s, when it had just 13 employees

1973

The owner Fred Koch was one of his father's customers, having started Koch Foods in 1973, and offered him a 50% equity share in the business

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