35-Year-Old Lynsi Snyder Gains Full Control of Christian Company, In-N-Out Burgers, becoming One of the Youngest Female Billionaires in the Country
Thirty-five-year-old Lynsi Snyder just gained full control of one of the most popular burger chains in the US: In-N-Out.
Snyder inherited 50% of In-N-Out’s shares when she turned 30, and on Friday — her 35th birthday — she acquired the chain’s remaining shares.
The inheritance makes her one of the youngest female billionaires in the country
In-N-Out, which has 324 restaurants in six states, was valued at $1.1 billion in 2013.
Snyder’s grandparents opened the first In-N-Out in 1948 and she became president of the chain seven years ago.
Despite her public role as president, Snyder is famously reclusive and rarely talks to the press.
But in a video released in January, she offered some insight into her personal life.
She discussed her four marriages, the death of her father, and her past drug use in the 10-minute video, which was posted to the website Iamsecond.com.
After her grandfather died in 1976, Snyder’s uncle, Rich Snyder, took over the company. He was at the helm until 1993, when he died in a plane crash.
Lynsi’s father, Guy Snyder, then replaced his brother and remained in charge until 1999, when he died of a prescription-drug overdose. Lynsi was 17 at the time.
Seven years later, in 2006, Lynsi’s grandmother died and Lynsi inherited control of the company. She became president four years later in 2010.
Since taking the position as president, Snyder has expanded In-N-Out to six states from four. She has changed almost nothing else about the brand, which prides itself on a simple menu of burgers and fries.
Snyder calls herself an “organized, careful leader,” though she admits that she’s also a thrill-seeker.
“I’m a lot like my dad, a little bit of a daredevil,” she told Orange Coast Magazine last year. “I like an adrenaline rush. My dad took me to the racetrack for the first time when I was 2 or 3. … Anything with a motor, that was in my blood.”
She enjoys drag-racing and once pursued an amateur boxing career, according to the magazine.
Source: Business Insider | Hayley Peterson