Who Is Arby's Co-founder Leroy Raffel? His Wikipedia, Parents, Married Life, & Net Worth

Arby's co-founder Leroy Raffel has died at the age of 96, the company announced on its Facebook page on 23 March 2023, calling him a truly visionary leader. The “RB” in Arby’s stands for co-founders, the Raffel brothers, who launched the brand in 1964. Twelve years after opening, the brothers sold the Arby's chain, which had 400 locations at the time, to the Royal Crown Cola Company.

Leroy Raffel Wikipedia Details

Who Is Leroy Raffel? Biography & Parents Details

Leroy Raffel (born on 13 March 1927, age: 96 years old) is a Restaurant executive, businessman, and co-founder of Arby's who died at the age of 96 as announced on the Facebook page of Arby's. Leroy, along with his brother Forrest founded the popular restaurant in Boardman in 1964. They opened their first Arby’s on U.S. Route 224 in Boardman, just west of where the township’s current store is located. Meanwhile, he is an American Real estate development company executive, who has been listed as a noteworthy real estate developer by Marquis Who's Who. At the same time, Leroy Raffel didn't have a Wikipedia page.

Leroy Raffel was born to his father, Jacob Raffel, and his mother, Ann Raffel, in Zanesville, Muskingum County, Ohio. As per records, his father used to own a restaurant in New Castle, Pennsylvania. Moreover, his father died in 1952 and his mother passed away in 1991. Leroy Raffel grew up along with his brother, Forrest Raffel, who died at the age of 86 in 2008. As per records, his brother had served in the military during World War II in the Air Force.

Leroy Raffel used to celebrate his birthday on 13 March every year with his family and friends. Moreover, he was born on 13 March 1927, which makes him 96 years old at the time of his death on 21 March 2023. Looking at his date of birth, he had Pisces as his zodiac or star sign. Moreover, Leroy Raffel held American nationality as he was born in Zanesville, Muskingum County, Ohio. Meanwhile, he comes from a family of a white ethnic background and followed Christianity as his religion.

After graduating from a local high school, Leroy Raffel went to the Wharton School of Finance at the University of Pennsylvania and graduated with a bachelor's degree in 1949. At the time of his death, he had a height of 5 feet and 8 inches with a decent weight.

Leroy Raffel Married Life

Leroy Raffel was a married man and had a wife named Shirley Balbot. As per records, the couple had been married for around 72 years at the time of his wife's death on 7 January 2023, as they got married on 11 September 1950. Moreover, his wife was a successful realtor and was a great support for her husband at the time of the growth of her husband's company.

In the course of 72 years of marriage, Leroy Raffel was a father to his four children Ken Raffel, Janet Raffel, Jim Raffel, and Nancy Raffel Osherow. Meanwhile, Leroy had eight grandchildren and one great-grandson.

Leroy Raffel Career & Net Worth Insights

Leroy Raffel started his working career in the United States Naval Reserve and served there from 1945 to 1946. Later, in 1949, he started a company named Raffel Brothers in Youngstown, Ohio with his brother and served there as president till 1978. Meanwhile, he was the president of the York Mahoning Company from 1950 to 1964. 

Moreover, he started Arby's in 1964 along with his brother in Boardman and served as the president of this hotel chain till 1970. After the IPO release of Arby's, he became the Chairman of the Board from 1971 to 1979. Other than that, he was also the president of Brom Equity Development.

After working for years and being successful in business, Leroy Raffel has an estimated net worth of $10 million approximately as of 2023.