Jack C. Massey
|Jack C. Massey|
|Born||June 15, 1904
|Died||February 15, 1990
Palm Beach, Florida
|Education||University of Florida|
Jack Carroll Massey (1904-1990) was an American venture capitalist and entrepreneur who owned Kentucky Fried Chicken, founded Hospital Corporation of America, and owned one of the largest franchisees of Wendy's.
Massey was born in 1904 in Tennille, Georgia. He began his business career working as a delivery boy in his uncle's drugstore. He then received a pharmacist's license when he was 19 and bought his first drugstore when he was 25. He graduated with a degree in pharmacy from the University of Florida. He built the store into a pharmacy chain, selling it six years later.
Kentucky Fried Chicken
In 1964, after a career in the medical supply industry, he bought Kentucky Fried Chicken from its founder, Harland Sanders, for $2 million. Massey embarked on a rapid expansion program, growing the business to approximately 3,500 franchises and grossing $700 million in annual revenue. Seven years later he sold the company for $239 million.
Hospital Corporation of America
In 1968, he founded Hospital Corporation of America with Thomas F. Frist, Sr. and Thomas F. Frist, Jr.. The company became the nation's largest chain of for-profit hospitals and Massey left active management in 1978.
After 1978, he transformed Winners Corporation, one of the largest franchisees of Wendy's hamburger outlets into a major fast-food franchise operation. Finally, he listed Volunteer Capital Corporation (a holding company of Wendy's Restaurant fast food franchises) on the New York Stock Exchange.
On November 1, 2005, Belmont University honored him and his family who donated $1 Million Gift to endow a Financial Trading Room named in his honor. The Jack C. Massey Graduate School of Business at Belmont University is named in his honor. Additionally, he was the founder of the Baptist Hospital in Nashville.
Personal life and death
- Bill Carey, Master of the Big Board: The Life, Times and Business of Jack Massey (Cumberland House Publishing, 2005)
- Glenn Fowler, Jack C. Massey, an Entrepreneur In Hospitals and Food, Dies at 85, The New York Times, February 16, 1990
- Belmont University biography
- University of Florida Foundation