George Cohon Net Worth: Exploring The Wealth of Late McDonald Canada Founder

George Alan Cohon, a canadian entrepreneur was born in America but based in Canada. He was better known as the founder and senior chairman of McDonald’s Canada and McDonald’s Russia.

 George Cohon was born on April 19, 1937, to a Ukrainian-Jewish father and an American-Jewish mother in Chicago, Illinois. His father was a lawyer and later became a baker. He had an elder sister whose name was Sandy. He completed his university education and received a B.Sc. degree from Drake University. He obtained a doctorate from the Northwestern University School of Law and for some time continued his father’s path as a lawyer. He is married to Susan whom he had first met in Northwestern.

George Cohon’s Business Empire

Cohon worked as a corporate lawyer in Chicago from 1961 to 1967 at his father’s law firm. He later shifted to Toronto, Ontario as the licensee of McDonald’s Corporation for Eastern Canada. He started his first McDonald’s outlet location in London, Ontario on November 11, 1968. Interestingly, seeing the big commercial prospects on the day the outlet opened, McDonald’s founder Ray Kroc offered to buy Cohon’s license for $1 million.

Cohon did not look behind and later became chairman, president and chief executive officer of McDonald’s Restaurants of Canada. Cohon expanded the McDonald’s chain and by 1976 more than 200 outlets operated in Canada. McDonald’s franchisees continued to grow under Cohon’s tutelage until 1971 when McDonald’s bought him out with stock. Cohon acquired Canadian citizenship in 1975

Cohon was also instrumental in the opening of McDonald’s chains in the former Soviet Union and opened its first outlet in Moscow on January 31, 1990. However, its operations in Russia were without hiccups and had to follow strict conditions which included minimal interference from the parent company in the US and all the transactions had to be made only in Rubles. Due to this, the McDonald’s chain had to create its own supply chain in the Soviet Union, including farms and packaging. Cohon also helped to bring Coca-Cola to Russia.

In 1982 Cohon partnered with 20 corporate entities to save the Toronto Santa Claus Parade, which was sponsored by Eaton’s department. He was appointed to the board of the Royal Bank of Canada and Director of the Board of Astral Inc. and Toronto Sun Publishing Corporation in 1988.

Cohon also received Russia’s “Capitalist Hero of Labor” and was also the founder of Ronald McDonald House Charities which provided accommodations for the sick who were receiving medical treatment in Canada and Russia.

George Cohon’s Cause of Death

In 2000, George Cohon was diagnosed with prostate cancer, but fully recovered. Cohon died on November 24, 2023, at the age of 86.

How much was George Cohon Net Worth?

According to Allfamousbirthday, George Cohon’s Net Worth was $5 million.

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George Alan Cohon Wiki