The youngest female billionaire in the US is 30-year-old Lynsi Torres, president and owner of In-N-Out Burger. That’s according to a new report from Bloomberg, which has profiled Torres and her remarkable rise to colossal riches.
The intensely private Torres has never been listed on an international wealth ranking, and only came to control In-N-Out following a series of family deaths.
In-N-Out Burger was founded by her grandparents, Harry and Esther Snyder, in 1948. When Harry died in 1976, control passed to his second son, Rich. When Rich was killed in a 1993 plane crash, the franchise was inherited by Torres’s father, Harry Guy Snyder. He passed away in 1999 after a prescription drugs overdose. His daughter was just 16 at the time.
Torres’s grandmother Esther kept control of the company until her death in 2006 at age 86. With her passing, Lynsi Torres was the sole family heir, and she now controls the company through a trust that gave her half ownership when she turned 30 last year. When she turns 35 in 2017, Torres will inherit full ownership. An Arizona state corporation commission filing reveals Torres is the sole owner.
The In-N-Out burger empire has close to 280 units in five states, and Bloomberg’s ranking values the franchise at about $1.1 billion.
Beyond her love for drag racing (she races herself) and the fact she has been married three times, little is known about America’s youngest female billionaire.
But thanks to a Detroit News Day report, we also know the heiress splashed out on a $17.4 million mansion in 2012, complete with seven bedrooms and 16 bathrooms. America’s youngest female billionaire reportedly purchased the property from former L.A. Dodgers player Adrian Beltre.
Read more at http://www.inquisitr.com/509575/youngest-female-billionaire-is-in-n-out-burger-owner-lynsi-torres/#SpseqaGBrMYSGx4x.99
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