Daniel Schwartz
{{Short description|American businessman}}
{{about||the professor of Jewish History|Daniel R. Schwartz|the American academic and university administrator|Daniel L. Schwartz}}
{{Infobox person
| name = Daniel Schwartz
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| birth_name =
| birth_date = {{birth based on age as of date |36|2017|6|12}}
| birth_place = Long Island, New York, US{{cite news|last1=Bryant|first1=Adam|title=Daniel S. Schwartz of Restaurant Brands International on the Value of Hard Work|url=https://www.nytimes.com/2017/09/08/jobs/corner-office-daniel-schwartz-restaurant-brands-international.html|newspaper=The New York Times|date=8 September 2017 |access-date=15 December 2017}}
| occupation = Co-Managing Partner 3G Capital
| net_worth =
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Daniel Schwartz (born 1981) is an American businessman. He is the co-managing partner of 3G Capital, a global investment firm and private partnership known for its long-term investments in companies such as Anheuser-Busch InBev, Restaurant Brands International (Burger King, Tim Hortons, Popeyes Louisiana Kitchen, and Firehouse Subs), Kraft Heinz, and Hunter Douglas.{{Cite web |date=2019-10-22 |title=Home - 3G Capital |url=https://www.3g-capital.com/ |access-date=2023-07-10 |language=en}}{{Cite news |last=Fontanella-Khan |first=James |date=2021-12-31 |title=3G Capital buys majority stake in Hunter Douglas for $7.1bn |work=Financial Times |url=https://www.ft.com/content/2671a383-e45f-49a4-83d0-83d474893f33 |access-date=2023-07-10}}{{Cite news |last=Gelles |first=David |date=2015-03-26 |title=3G Capital, Warren Buffett's Favorite Partner in Deals Worth Billions |language=en-US |work=The New York Times |url=https://www.nytimes.com/2015/03/26/business/dealbook/3g-capital-warren-buffetts-favorite-partner-in-deals-worth-billions.html |access-date=2023-07-10 |issn=0362-4331}}{{Cite web |last=Cheng |first=Evelyn |date=2017-02-17 |title=3G and Buffett's Berkshire behind what could be the largest US purchase of a foreign company |url=https://www.cnbc.com/2017/02/17/3g-and-buffetts-berkshire-behind-what-could-be-the-largest-us-purchase-of-a-foreign-company.html |access-date=2023-07-10 |website=CNBC |language=en}}{{Cite news |last1=Daneshkhu |first1=Scheherazade |last2=Whipp |first2=Lindsay |last3=Fontanella-Khan |first3=James |date=2017-05-07 |title=The lean and mean approach of 3G Capital |work=Financial Times |url=https://www.ft.com/content/268f73e6-31a3-11e7-9555-23ef563ecf9a |access-date=2023-07-10}} Schwartz played a pivotal role in 3G Capital's 2010 acquisition of Burger King, where he was CFO, COO, CEO, and co-chairman from 2010 to 2022 and still sits on the board of directors.{{Cite web |title=About Us - Board of Directors - Person Details {{!}} Restaurant Brands International ™ |url=https://www.rbi.com/English/about-us/board-of-directors/person-details/default.aspx?ItemId=67a9ba6f-9f5b-4d77-b9cc-601f29f80c5f |access-date=2023-07-10 |website=www.rbi.com}}{{Cite web |last=Sorvino |first=Chloe |title=Whopper Of A Turnaround: At Burger King, The 3G Capital Model Actually Worked |url=https://www.forbes.com/sites/chloesorvino/2019/04/08/whopper-of-a-turnaround-at-burger-king-the-3g-capital-model-actually-worked/ |access-date=2023-07-10 |website=Forbes |language=en}}{{Cite web |last=Peterson |first=Hayley |title=How a 36-year-old Wall Street prodigy saved Burger King |url=https://www.businessinsider.com/how-wall-street-prodigy-daniel-schwartz-saved-burger-king-2017-6 |access-date=2023-07-10 |website=Business Insider |language=en-US}} In 2017, Schwartz was included by Forbes in a "Top 40 under 40" list for his role at Burger King.{{Cite web |title=Daniel Schwartz |url=https://fortune.com/ranking/40-under-40/2017/daniel-s-schwartz/ |access-date=2023-07-10 |website=Fortune |language=en}}
Early life
Schwartz was raised on Long Island, New York, in a family where both his father and mother had successful professional careers as a doctor and lawyer.{{cite news|first=Hayley |last=Peterson |title=How a 36-year-old Wall Street prodigy saved Burger King |newspaper=Business Insider|date=June 12, 2017 |url= https://www.businessinsider.com/how-wall-street-prodigy-daniel-schwartz-saved-burger-king-2017-6 |quote=Schwartz, now 36, is sitting at the top, earning more than $6 million in annual compensation.}}{{Cite news |last=Bryant |first=Adam |date=2017-09-08 |title=Daniel S. Schwartz of Restaurant Brands International on the Value of Hard Work |language=en-US |work=The New York Times |url=https://www.nytimes.com/2017/09/08/jobs/corner-office-daniel-schwartz-restaurant-brands-international.html |access-date=2023-07-10 |issn=0362-4331}} He completed his high school education at The Wheatley School in 1998.{{Cite web|first=Art |last=Engoron |authorlink= |title= Wheatley Alumni Monthly Newsletter Number 4 |website=The Wheatley School Alumni Association|date=September 3, 2016 |url=http://www.wheatleyalumni.org/BlogPost/Blogpost-September-2016.html |access-date=}} Schwartz then pursued his higher education at Cornell University, graduating with a Bachelor of Science degree in applied economics and management.{{cite web|url=https://orgsync.com/56145/events/1549034/occurrences/3563739|title=DDLS Roundtable - Speaker: Daniel Schwartz, CALS 01, CEO, Restaurant Brand International (Burger King Corporation)|website=orgsync.com|access-date=2016-11-22|archive-date=2016-11-08|archive-url=https://web.archive.org/web/20161108053437/https://orgsync.com/56145/events/1549034/occurrences/3563739|url-status=dead}} During his time at Cornell, Schwartz initially took pre-med and finance courses before specializing in management and applied economics, graduating in 2001.{{Cite web |last=Nordqvist |first=Christian |date=2022-10-06 |title=Former Burger King CEO Daniel Schwartz Helped Franchisees Have It Their Way |url=https://marketbusinessnews.com/daniel-schwartz-helped-franchisees-have-it-their-way/311409/ |access-date=2023-07-10 |website=Market Business News |language=en-US}}
Career
In 2005, Schwartz joined 3G Capital, becoming a Partner in 2008 at the age of 27.{{cite news|url=http://www.businessinsider.com/burger-king-head-daniel-schwartz-reveals-the-best-advice-he-ever-got-2017-6|title=The Wall Street prodigy who took over Burger King when he was 32 reveals the best advice he ever received|work=Business Insider|access-date=2017-12-14}}{{Cite web |last=Nordqvist |first=Christian |date=2022-10-06 |title=Former Burger King CEO Daniel Schwartz Helped Franchisees Have It Their Way |url=https://marketbusinessnews.com/daniel-schwartz-helped-franchisees-have-it-their-way/311409/ |access-date=2023-07-13 |website=Market Business News |language=en-US}} His work focused on identifying and executing strategic acquisitions. In 2010, Schwartz played a pivotal role in the acquisition of Burger King for $4 billion where he was appointed as CFO. Under new leadership, Burger King underwent a transformation, introducing a reworked menu and innovative marketing strategies.{{Cite news |date=2010-09-02 |title=Burger King agrees to $3.3 billion sale to 3G Capital |language=en |work=Reuters |url=https://www.reuters.com/article/us-burgerking-idUSTRE6801CB20100902 |access-date=2023-07-13}}{{Cite news |last=Warner |first=Annie Gasparro And Melodie |date=2012-08-01 |title=Burger King's New Menu, Marketing Boost Profit |language=en-US |work=Wall Street Journal |url=http://online.wsj.com/article/SB10000872396390443687504577562770509811152.html |access-date=2023-07-13 |issn=0099-9660}}
In 2013, at the age of 32, Schwartz became the CEO of Burger King, making him one of the youngest restaurant CEOs in history. During his tenure, Burger King's growth outpaced competitors, with the company opening 1,000 new restaurants worldwide.{{Cite web |title=The deals that show how lucrative private equity can be |url=https://www.ft.com/content/1369a0c7-eb03-486a-8b13-15c2ef230fce |access-date=2023-12-29 |website=www.ft.com}}
In December 2014, Schwartz played a key role in 3G Capital's acquisition of Tim Hortons for $12.5 billion, resulting in the creation of Restaurant Brands International (RBI), the world's third-largest quick-service restaurant company.{{Cite web |title=World's Third Largest Quick Service Restaurant Company Launched with Two Iconic and Independent Brands: Tim Hortons and Burger King |url=https://www.rbi.com/English/news/news-details/2014/Worlds-Third-Largest-Quick-Service-Restaurant-Company-Launched-with-Two-Iconic-and-Independent-Brands-Tim-Hortons-and-Burger-King/default.aspx |access-date=2023-07-13 |website=www.rbi.com |language=en-US}} Under Schwartz's leadership, RBI further expanded its portfolio by acquiring Popeyes Louisiana Kitchen, Inc. in 2017 for $1.8 billion and Firehouse Restaurant Group Inc. for $1.0 billion in 2021.{{Cite web |last=Inc |first=Restaurant Brands International |title=Restaurant Brands International Inc. Agrees to Acquire Popeyes Louisiana Kitchen |url=https://www.prnewswire.com/news-releases/restaurant-brands-international-inc-agrees-to-acquire-popeyes-louisiana-kitchen-614339963.html |access-date=2023-07-13 |website=www.prnewswire.com |language=en}}{{Cite web |title=Restaurant Brands International Inc. to Acquire Firehouse Subs |url=https://www.rbi.com/English/news/news-details/2021/Restaurant-Brands-International-Inc.-to-Acquire-Firehouse-Subs/default.aspx |access-date=2023-07-13 |website=www.rbi.com |language=en-US}}
After stepping down as CEO of Restaurant Brands International in January 2019, Schwartz was Co-Chairman of the Board alongside his mentor, Alex Behring until 2021.{{Cite web |title=About Us - Board of Directors - Person Details {{!}} Restaurant Brands International ™ |url=https://www.rbi.com/English/about-us/board-of-directors/person-details/default.aspx?ItemId=67a9ba6f-9f5b-4d77-b9cc-601f29f80c5f |access-date=2023-07-13 |website=www.rbi.com}}{{Cite web |title=About Us - Board of Directors - Person Details {{!}} Restaurant Brands International ™ |url=https://www.rbi.com/English/about-us/board-of-directors/person-details/default.aspx?ItemId=541d800b-285b-4318-9277-f8b33fb6415f |access-date=2023-07-13 |website=www.rbi.com}} He continues on the Board of Directors. Schwartz also led 3G Capital's recent acquisition of Hunter Douglas in 2021 and is a board member.{{Cite news |last=Fontanella-Khan |first=James |date=2021-12-31 |title=3G Capital buys majority stake in Hunter Douglas for $7.1bn |work=Financial Times |url=https://www.ft.com/content/2671a383-e45f-49a4-83d0-83d474893f33 |access-date=2023-07-13}}
Personal life
Schwartz remains actively involved in his alma mater, Cornell University. As a graduate of Cornell, he is on the Undergraduate Program Advisory Council of the Dyson School.{{Cite web |title=Speaker: Daniel Schwartz, Dyson '01, Chief Executive Officer |url=https://sha.cornell.edu/admissions-programs/undergraduate/student-experience/hotelie-credentials/ddls/speaker-daniel-schwartz-dyson-01-chief-executive-officer/ |access-date=2023-07-13 |website=Cornell Nolan |language=en-US}} Daniel Schwartz is married and has three children.
References
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Category:American chief executives of food industry companies
Category:American chief financial officers
Category:American people of Jewish descent
Category:Cornell University alumni
Category:Restaurant Brands International