What was Kent Taylor's net worth? Texas Roadhouse CEO who gave up $800K salary and bonus during Covid-19 dies at 65
As the CEO, Taylor reportedly earned $4,899,742 in total compensation of which $525,000 was received as a salary. He gave up his salary during the pandemic
The founder and CEO of Texas Roadhouse Inc, Kent Taylor died on Thursday, March 18. His demise was announced by the company's lead director Greg Moore on the behalf of the boards of directors. Taylor, who was 65 at the time of his death, founded the Louisville-based public company in 1993.
Moore's statement read, "We are deeply saddened by the loss of Kent Taylor. He founded Texas Roadhouse and dedicated himself to building it into a legendary experience for 'Roadies' and restaurant guests alike."
Taylor made the headlines for his grand gesture when he gave up his entire annual compensation to support his frontline workers during Covid-19. "This selfless act was no surprise to anyone who knew Kent and his strong belief in servant leadership," Moore mourned. However, despite his generous act, Taylor basked in massive wealth. Let's have a look at the late businessman's net worth and ventures.
According to reports, he donated his yearly salary and bonus, totaling more than $800,000 — and made sure the company didn't lay off or slash paychecks for anyone.
What was Wayne Kent Taylor's net worth?
According to Wallmine.com, Taylor was allegedly worth at least $600 million. He owned over 70,000 units under his restaurant chain, reportedly worth over $292,000,490. Furthermore,Taylor sold stock worth $305,120,627 in 16 years.
Only days before his death, on March 15, the business tycoon sold 70,000 shares of TXRH at an average price of $98.4 a share. The total sale is reported to be worth $6.9 million. The full-service casual dining restaurant chain is said to have a market cap of $6.77 billion.
Another factor that contributed to his fortune was his compensation for the role of CEO at Texas Roadhouse Inc. He served the position from 2004 until his death. Taylor reportedly earned $4,899,742 in total compensation of which $525,000 was received as a salary. Another $654,181 was given as a bonus and he received $3,711,600 in stock. The above information is based on a statement filed for the 2019 fiscal year, according to Salary.com.
Before taking on the role of CEO for Texas Roadhouse Inc, Taylor served as the Board Member of Papa John's International Inc from 2011 to 2018.
'Truly legendary man'
Tributes poured in for Taylor soon after his death was announced. One tweeted, "The founder of Texas Roadhouse passed away today and left behind a legacy. a truly amazing man who built a company based on fun & development and who cared about his people! here’s to Kent Taylor, a truly legendary man."
Another added, "Kent Taylor gave up his salary last year to divide between his employees for a little covid relief. That man was so down-to-earth and genuine, I’ve always been proud to work for him. RIP Kent" Another wrote, "Hearts go out to all the roadies. Kent Taylor was an exceptional man."
the founder of Texas Roadhouse passed away today and left behind a legacy. a truly amazing man who built a company based on fun & development and who cared about his people! here’s to Kent Taylor, a truly legendary man ♥️ pic.twitter.com/vxyI1FyDre— brittanicowan (@BrittaniCowan) March 19, 2021
Kent Taylor gave up his salary last year to divide between his employees for a little covid relief. That man was so down to earth and genuine, I’ve always been proud to work for him. RIP Kent 🖤 #trueclass #willbemissed— eevers #insulin4all (@sturika) March 19, 2021
Hearts go out to all the roadies. ❤️ Kent Taylor was an exceptional man.— Tia (@mrsmudd0306) March 19, 2021