How did a 17-year-old sandwich shop owner become one of America’s wealthiest food moguls? Peter Cancro net worth in 2025 is the result of decades of relentless business growth.
From running a single sub shop to leading Jersey Mike’s, his story is as impressive as the numbers behind it.
Peter Cancro Quick Facts
| FACT | DETAIL |
|---|---|
| Real Name | Peter Cancro |
| Popular Name | Peter Cancro |
| Birth Date | May 15, 1957 |
| Age | 67 (as of March 22, 2025) |
| Birthplace | Point Pleasant Beach, New Jersey |
| Nationality | American |
| Ethnicity | N/A |
| Education | Point Pleasant High School (Graduated 1975) |
| Marital Status | Married |
| Spouse | Tatiana Cancro (married in 2014) |
| Children | 4 |
| Dating | N/A |
| Siblings | John Cancro |
| Parents | N/A |
| Height (meters) | N/A |
| Net Worth | $4.9 billion |
| Source of Wealth | Jersey Mike’s Subs |
What is the Net Worth Of Peter Cancro in 2025?
Peter Cancro net worth is estimated at $4.9 billion as of March 2025, making him one of the most successful food industry entrepreneurs in the world.
The valuation of Jersey Mike’s hit $8 billion after a 2024 majority stake sale to Blackstone, further boosting his financial standing.
Compared to other fast food magnates, Cancro sits comfortably among elite company. While the founder of Subway sold their business for $9.6 billion, Cancro still retained majority control of his company even after the deal, which is rare. His financial influence continues to grow, powered by 2,800+ franchise locations and over $3.3 billion in annual systemwide revenue.
Related names in this space include:
- Rod Smith
- Tatiana Cancro
- Robert Cancro
- Caroline Cancro
- Linda (first wife)
- John Cancro
- Subway founder
- Forbes editors
- Blackstone executives
- Jersey Mike’s franchisees
For more stories about today’s financially powerful public figures, check out our guide on how much money top entrepreneurs really make.
Peter Cancro Wealth, Salary and Financial Overview
How he built his wealth through Jersey Mike’s
Peter Cancro’s financial journey began in 1975 when he was just 17. He used a $125,000 loan from his high school football coach, Rod Smith, to buy Mike’s Submarines. That shop became the foundation for Jersey Mike’s, now a national brand.
Back then, he was already showing signs of business savvy, turning a small local sandwich spot into a thriving operation. In 1987, he made the smart move to begin franchising. By 1991, there were 30 stores. That number skyrocketed to over 1,000 by 2015, and today, there are more than 2,800 locations across the U.S., Canada, and Mexico.
Cancro retained majority ownership throughout the company’s expansion, which is unusual for a founder. He turned a humble sandwich shop into a $3.3 billion annual revenue machine, largely through steady brand development and franchise scalability.
How his role as CEO impacts his earnings
As CEO, Cancro’s leadership directly influences Jersey Mike’s success. He oversees everything from franchise standards to marketing strategies and long-term growth. His decisions—such as keeping ingredients fresh and emphasizing customer service—have solidified the brand’s reputation.
Unlike many CEOs who report to boards or shareholders, he retains operational freedom due to his majority ownership. This unique position means he benefits not only from a salary (undisclosed publicly) but also from substantial profits tied directly to company performance.
That blend of ownership and leadership allows Cancro to control both strategic vision and financial reward. His position is more akin to a founder-operator than a corporate executive.
How much he earns from the franchise business
Most of Cancro’s wealth doesn’t come from a salary but from Jersey Mike’s consistent performance. The business operates as a franchise model, with each store paying fees and royalties.
With over 2,800 stores generating $3.3 billion annually, even a small percentage translates into massive earnings. These figures are not publicly broken down, but industry standards suggest franchise owners often earn significant profits per location.
Cancro, as the majority owner, receives income from franchise fees, supply chain margins, brand licensing, and more. His wealth is diversified within the company itself.
How his financial position changed after the Blackstone deal
In November 2024, Peter Cancro sold a majority stake in Jersey Mike’s to private equity firm Blackstone at a reported valuation of $8 billion, including debt.
Despite selling control, he kept a significant stake and continues as CEO. That deal alone likely increased his liquid assets and positioned him for even more wealth in the future.
This move followed a similar industry trend, like Subway’s $9.6 billion sale. However, unlike Subway’s founders, Cancro is still actively running his brand. That dual role—as both owner and operator—strengthens his long-term financial profile.
Where he invests and manages his money
While Cancro’s fortune is largely tied to Jersey Mike’s, he’s made several strategic investments. One of the most notable was a $15.681 million condo purchase in New York City in 2014. With monthly HOA fees exceeding $14,000, it’s a premium property.
He now resides in Miami, Florida, a popular city among high-net-worth individuals. Cancro is also committed to philanthropy. His “Day of Giving” campaign donates 100% of sales to charities every March, raising between $5 million to $7 million annually.
Additionally, he founded the “Coach Rod Smith Ownership Program,” offering young entrepreneurs a chance to enter the food business—just like he did back in 1975.
How his financial journey compares with similar entrepreneurs
When comparing Cancro with peers in the quick-service restaurant space, he stands out for holding onto ownership longer than most. While Subway changed hands and leadership, Cancro continues to lead Jersey Mike’s.
His inclusion in the Forbes 400 (#237 in 2024) and ranking among the top 700 richest individuals globally in March 2025 reflects his consistency and savvy.
He’s earned a 9 out of 10 self-made score by Forbes—an impressive feat. Few founders maintain both leadership and financial control this long. It’s a rare blend of loyalty to the brand and long-term financial foresight.
Conclusion
Peter Cancro’s story is more than just sandwiches—it’s about staying true to a vision while building massive financial success. Like, comment, or share your thoughts, and explore more stories on Aupeo.
