Peter Buck (restaurateur)


Peter Buck is an American physicist, restaurateur, and philanthropist. He co-founded the Subway fast-food restaurant chain.

Early life and education

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

Career

Subway

While working as a nuclear physicist for several companies from 1957 to 1978, Buck loaned partner and family friend Fred DeLuca $1,000 in 1965 and advised him to open a sandwich shop to help him pay for college at the University of Bridgeport in Bridgeport, Connecticut. They named the restaurant after Buck, calling it "Pete's Super Submarines". Together Buck and De Luca formed Doctor's Associates to oversee operations of the restaurants as the franchise expanded. Though neither the first nor the second restaurants were financial successes, they continued to expand their operations. By 1973, they had 16 locations throughout Connecticut and, in 1974, they began franchising out the restaurants. They also introduced Subway's current logo and changed the name of their operation from what was then "Pete's Subway" to "Subway Sandwiches".

Wealth

Buck is ranked No. 261 on the Forbes 400 list of wealthiest people, with an estimated net worth of $1.6 billion. He is the seventh-largest landowner in the United States by acreage, according to landreport.com.

Philanthropy, honors, and awards

Among Buck's philanthropic works, he donated the 23.10 carat Carmen Lúcia Ruby to the gem collection at the Smithsonian Institution's National Museum of Natural History It is thought to be one of the finest Burmese rubies known. Curator Jeffrey Post called the gem “the most important addition to the collection in the 20 years that I’ve been here.”
He also gave a grant to Bowdoin College in 2009 that completed its capital campaign. Consequently, the college's new fitness center bears his name. In 2008, Bowdoin College awarded him an honorary Doctor of Humane Letters degree.
The Peter and Carmen Lucia Buck Foundation was formed in 1999, by Dr. Peter Buck and his wife Carmen Lucia as a private family foundation to manage their family’s philanthropy. The Internet Archive received support from PCLB.

Personal life

Buck lives in Danbury, Connecticut. He was married to Carmen Lúcia, who died in 2003.