McDonald’s Mystery: The Dark History and Forgotten Legacy Of Everyone’s Beloved Burger Joint
Buying Out The Brothers
In 1955, Ray finally became president of McDonald’s, a role he retained until 1977 when he transitioned to the senior chairman until he died in 1984. His relationship with the McDonald brothers was fraught with tension, culminating in 1961 when he bought out their shares for $2.7 million.
To finance this deal, Ray borrowed from multiple sources. The acquisition wasn’t smooth, but Ray was resolute. In a 1973 TIME interview, he said that he needed the McDonald name and the Golden Arches. The McDonald brothers established the chain, but it was going to be all about Ray henceforth.
Next: Revenge is a dish best served between burger buns…
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