In-N-Out Burger was founded in 1948, but new blood has recently taken over. The California-based fast-food chain is run by current owner and president Lynsi Snyder, the 35-year-old granddaughter of the couple who started it.
The In-N-Out heiress received full control of the company upon her 35th birthday in 2017, and according to Forbes’ most recent ranking, has become one of the youngest billionaires in the country as a result with an estimated net worth of $1.21 billion. Like the rest of the Snyder family, she’s press-shy and lives in California out of the spotlight — but over the years, sporadic interviews have popped up, where she’s expressed what she believes makes her business so special. Here’s what you need to know about the elusive head of arguably America’s most beloved burger joint.
She’s the sole heir to the In-N-Out fortune
On her 35th birthday, Snyder inherited the entirety of In-N-Out. As the sole heir to the West Coast quick-service chain, she gradually received stakes in it over a decade, the result of a trust set up by her grandparents. She accumulated the remaining portion on her latest birthday, instantly making her a millennial billionaire.
Her dad died of an overdose
Snyder’s inheritance of In-N-Out came under tragic circumstances. Following her grandfather’s death, her uncle helmed the company from 1976 to 1993 — he died in a plane crash. Her father then took charge until he died of a prescription-drug overdose in 1999. She was just 17 at the time. (By that point, her father had divorced from her mother.) In 2006, following the death of her grandmother, Snyder accepted control of In-N-Out. She’s discussed her own battles with addiction.
She’s exceptionally private
Many top names in the business world relish fame. That’s never been true of the Snyder family. Lynsi explained in one rare CBS interview, “We back away from it because we don’t want to be in the spotlight, we don’t want a bunch of attention. And we want to do what we do best, and that’s serve some good burgers to our customers,” she said.
She’s been married four times and lives in a lavish mansion
While shunning the public eye, Snyder has still created intrigue around her personal life. That’s not just because of four marriages, but also because of an insanely enormous house in California’s San Gabriel Valley that she listed in 2017. The 19,000-square-foot mansion reportedly has 10 bedrooms, 18 bathrooms, a batting cage, and a bowling alley. Modest it is not.
She’s a born-again Christian
Snyder credits her faith with saving her life. After the death of her father, she attempted to “fill the void” with substances and tumultuous relationships with men, she said. Christianity helped heal her.
“I really value the love and good times I had with my dad but even that can’t compare completely to the love that God has …read more
Source:: Time – Business