Meet America’s latest millennial billionaire.. Family’s hard work pays out – PB/TK
Meet America’s newest billionaire, millennial Lynsi Snyder – By l May 11 2017
When Lynsi Snyder turned 35 last week, she received an unusually rich gift: most of the remaining shares in her family’s business, the cult burger chain In-N-Out.
Snyder had already inherited 50 percent of the company when she turned 30, and her 35th birthday triggered the inheritance of most of the burger chain’s remaining shares. With Forbes valuing her stake at $1.3 billion, Snyder has joined the rarified club of fewer than 300 women who are billionaires — and is believed to be the youngest of them in the U.S.
Snyder may not be a familiar name, but her company’s business has legions of fans, including top chefs such as Gordon Ramsay. In-N-Out was founded in 1948 by her grandparents, Harry and Esther Snyder, who started the chain as a single drive-through hamburger stand in Baldwin Park, California. Through a series of tragic family deaths — including her father’s demise at 49 from a prescription drug overdose — Snyder inherited control of the business.
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