Ruth Fertel Net Worth – How Much is Ruth Fertel Worth?

Ruth Fertel was a great entrepreneur. She was an American woman who founded the Ruth’s Chris chain of steak houses. In fact, her steakhouses are found all over the world. You can find them in Puerto Rico, Aruba, Canada, Panama, and the United States. Despite the restaurant’s success, the founder of the chain had been diagnosed with lung cancer in 2000.

As a child, Ruth was a talented girl, having a natural knack for math. Her parents encouraged her to learn and go to school. After graduating from high school, she took physics and chemistry. Then she studied chemistry at the Louisiana State University. However, she was still undecided about her career when she graduated. That is why she worked part-time jobs to support herself and her sons.

When she married Rodney Fertel, the two opened a racing stable in Baton Rouge. They also bought a 60-seat steakhouse in their hometown of New Orleans. During that time, they had two children. Unfortunately, Ruth and Rodney split and they divorced.

It was during this time that Ruth became interested in buying a restaurant in New Orleans. She did not know that the place she wanted to buy was owned by Chris Matulich. He was an eccentric millionaire. But he promised to train her.

Later, she mortgaged her house for $22,000 to buy the steakhouse. She used a loan from the bank to cover the purchase, as well as the overhead costs of the business. Even though she had no experience in restaurants, she was confident that her instincts were good enough to make it work.

The restaurant opened in 1976 and had a huge success. However, the kitchen burned down and she had to move on. Fortunately, she had a friend who was an expert in marketing. Using her skills, she remodeled the building and connected it with another one. This made it possible for people to get jobs.

After the fire, Ruth looked for another location to open her restaurant. She found Chris’ Steak House in a classified advertisement. Thankfully, the new owners weren’t able to turn a profit, so she bought the place back at a steep discount.

However, the name Ruth’s Chris never really appealed to her. For a long time, she hated it. Eventually, she decided to add her name to the name of the restaurant. Ultimately, she built the largest chain of steakhouses in the world. As of 2008, there were six thousand employees working at Ruth’s Chris.

While she was a successful businesswoman, she was a mother who had to put her two sons through college. Luckily, her parents instilled strong moral values. Although she lost her home to a fire in 1976, she worked hard to reopen the restaurant. And when her parents died in 2002, she was there to see them off.

Although she had little culinary training, Ruth Fertel was a renowned entrepreneur. She was also a horse trainer. During her time as a trainer, she became the first female licensed horse trainer in Louisiana.