Peter Cancro is an American businessman and entrepreneurwith visionary thinking and innovative mindset. He acumulated his wealth through ownership of Jersey Mike’s Subs, an American submarine sandwich chain boasting over 1,600 locations in the 47 states of the United States.
Peter Cancro net worth is approximately $600 million, testament of his company’s growth and success. The journey of Peter Cancro, richest businessman and entrepreneur, is worth reading. Discover the details of his career, exceptional leadership, earning, wife, age, height and much more.
|Date of Birth
|May 15, 1957
|Place of Birth
|New Jersey, United States of America
|Luigi (Louis) Cancro and Anna Louisa D’Alessio
|Tatiana Voevodina Cancro
|Point Pleasant local high school, New Jersey
|Entrepreneur & Businessman
|January 01, 2024
Peter Cancro took his first breath on May 15, 1957, in Point Pleasant, New Jersey, United State. He and his younger brother John spent their childhood in New Jersey. They both attended the local grade school, middle school and high school. He started working from a young age. At the age of 14, his first job was at Mike’s Sandwich as a cashier at the age of 14.
During his high school in 1971, he also aimed to pursue his career in law, but his entrepreneurship skills aided him to turn his mind towards business and his hard- work paid him back in the form of his own business from 1975 to onward. Throughout his education at the Point Pleasant high school, he worked at Mike’s shop.
Peter Cancro’s hard work of 4-years led him to take a decision to take a step forward and buy the restaurant and luckily two brothers who are owners of the shop are deciding to sell. Taking the reins in 1975, Peter Cancro became the fourth owner of Mike’s Sandwich. He changed the name of this shop shortly after becoming the owner to Jersey Mike’s Subs.
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American entrepreneur and businessman, Peter Cancro started his career from the age of 18. He started working as a cashier at Mike’s shop. His skillful mind and resilience aided him to move one step forward in 1975, when owners of Mike’s shop decided to sell.
Peter decided to buy this after his mother’s opinions. One of the school fellows also narrated that he skipped some classes and worked extra hours to collect money to purchase Mike’s. Football coach Rod Smith also helped Peter and lent him money on the cost of interest. He decided to return this amount after a year with interest.
He bought this shop for $125 thousand and in 1975, he became the owner of Jersey Mike’s Sub Shop with the ambitious goal of reaching 1000 locations by 2020. His exceptional skills and risk taking prowess aided him to his net worth of $600 million.
This restaurant now has more than 1600 branches in 47 states of the USA, and earns revenue of more than $2 billion yearly. However, Peter Cancro contribute about $4 million-$5 million of this profit to charities every year. This restaurant is also a source of employment for its widespread branches in 47 states of the USA.
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His estimated monthly, yearly income is listed below from his entrepreneurial journey and other business ventures like some brands whose names are not disclosed yet and from charities.
- Yearly Income: $10 million
- Monthly Income: $800 thousand
- Weekly Income: $180.03 thousand
- Daily Income: $25.65 thousand
- Hourly Income: $1.75 thousand
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Peter Cancro Net Worth
As of 2024, Peter Cancro net worth is $600 million. The networking prowess and innovative mindset of Peter Cancro aided him to extend Jersey Mike’s Subs, an American submarine sandwich chain. He decided to extend his company all over the USA in 1987.
His forward thinking vision has fueled the company’s growth and success. Till 2022, Jersey Mike’s Subs became the international company with opportunities for the unemployed persons.
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Earnings as Entrepreneur
Peter Cancro started his entrepreneurial journey with visionary thinking and innovative mindset. He began his employment with Mike’s Submarine from the age of 14, during his high school. With the help of the football coach and on his mother’s advice he decided to move one step forward and bought Mike’s Submarine.
In 1975, Peter officially became the CEO and owner of Jersey Mike’s Subs. He started franchising his shop in 1987, with more than 1600 branches in 47 states of US, 3 shops in Queensland, Australia, and 2 shops in Ontario, Canada till 2023. He was also awarded several awards marked by his achievements through Jersey Mike’s Subs.
Earning from Business Ventures
When Peter Cancro started working for Mike’s Submarine, there was no competition in the market as McDonald’s or Burger King. So his company made a massive profit and was marketed as an international company. However, to reach this point, he worked hard and also faced bankruptcy.
Peter asked many people in the market for help but no one came forward from the Northwest, later teaching Peter to be frugal. He had to work with diligence and set the goal to hold his position in the market. His hard work of 24/7 paid him back with 35 branches till 1991. Peter Cancro net worth is $600 million as of 2024 from his business, social profiles and mainly from entrepreneurial journey.
Awards And Achievements
As businessman Peter was nominated several times for his achievements and success with substantial impact on Peter Cancro net worth. He got several awards listed below:
- Titled as Entrepreneur of the Year 2013
- Golden Chain Award winner by the Nation’s Restaurant News 2013
- Silver Plate Award in the Chain Limited Service category 2019
- Nominated as Restaurant Leader Award 2022
Peter Cancro Assets
Peter Cancro is a millionaire with a net worth of $600 million. He lives a wealthy lifestyle. His real estate properties include a luxurious house worth $15.68 million with a fancy four-bedroom unit on East 68th St, in New Jersey. He also owns luxury cars for transportation.
As far as the personal life of Peter Cancro is concerned, he married twice in his lifetime. During his high school in 1975, he married his girlfriend Linda. After high school education, Peter Cancro tied the knot with his girlfriend Linda in 1975.
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Their familial blessings extend to 2 children, a son named Robert Cancro and a daughter named Caroline Jones. However, they got separated on friendly terms with reasons not disclosed publicly. In February 2014, Peter Canctro married Tatiana Voevodina Cancro. Peter Cancro and Tatiano have no children together, but live with a son from his first wife.
Tatliana Cancro is a young and beautiful lady with attractive features. It is also a known fact that Peter Cancro has a younger brother named John Cancro. They both grew up and educated in Point Pleasant, New Jersey.
Height, Weight & other Physical Stats
|5 feet 8 inches (172.72 cm)
|68 kg (149.91 lbs)
Social Media Profiles
Peter Cancro has social profiles named after his company Jersey Mike’s. His YouTube channel has 6.46K subscribers and crossed 273 million views. He earns more than $180 thousand from YouTube ads, testament of Peter Cancro net worth of $600 million beside his profession as entrepreneur.
Frequently Asked Questions
Peter Cancro is an American businessman and entrepreneur with a strong work ethic and innovative mindset. He has a business mindset from his early life after he bought Jersey Mike’s for $125 thousand. Peter Cancro net worth is testament of his risk taking ability and visionary prowess.
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