Coby Brooks net worth is
Coby Brooks Wiki Biography
Coby George Brooks was born on the 17th May 1969, in Georgia, UA, and is a businessman and entrepreneur, best known as a former President and CEO of the Hooters, Inc. restaurant chain, and Naturally Fresh, Inc., and is a current franchisee of Twin Peaks, another “breastaurant” chain. Brooks’ career in the industry started in 2003.
Have you ever wondered how rich Coby G. Brooks is as of mid- 2016? According to authoritative sources, it has been estimated that Brooks’ net worth is as high as $20 million, accumulated mostly through his successful career as an entrepreneur. In addition to being quite capable as a businessman, Brooks inherited a significant sum of money following his father’s death, and it also improved his wealth.
Coby G. Brooks Net Worth $ 20 Million
Coby G. Brooks’ early career is not documented – presumably he was involved in the family business, before he became a CEO of the Hooters “breastaurant” chain in more than 400 locations, when his father handed over control in 2003, and assumed the position of controlling shareholder when Robert H. Brooks died in 2006, as he left 30% of his wealth to Coby, but also 30% to his underage daughter, Boni Bell, 30% to the rest of the family, and 10% to the Clemson University. Robert’s widow, Tami, received a guaranteed $1 million per year for 20 years, but she wanted more and sued the estate for a third, so Coby eventually had to settle with her for an undisclosed amount in 2009.
The settlement severely weakened Coby’s wealth and ability to run the company, so he was forced to include outside investors into the Hooters franchise. He eventually sold the franchise in 2011 to a private equity firm. Only a few days later, Brooks called Randy DeWitt, a founder of Twin Peaks, the Dallas-based sports-lodge-theme restaurant chain which was a competitor of Hooters at the time. Brooks asked him to hire him as a franchisee, Dewitt accepted, and since then, Brooks has opened the new 12 Twin Peaks units, another so-called ‘breastaurant’ chain as it also relies on attractive waitresses serving diners, and has plans to open 31 more shortly, in locations across Georgia, Alabama, Tennessee, the Carolinas, and Florida.
Coby also gained a controlling interest in Naturally Fresh, a company built-up by his father which specialized in marketing coffee, cream, sauces and dressings, but had the same problem with finances as with Hooters, and sold it to TreeHouse Foods in 2012, which no doubt added to his net worth.
In February 2010, Brooks appeared on the CBS reality TV show “Undercover Boss”, which is about a person who has an upper-management position at a major business, deciding to go undercover as an entry-level employee in order to discover possible faults in the company and assess the performance of employees. That appearance came when he was a CEO of Hooters, but his next one was in 2013 when was already at Twin Peaks.
Regarding his personal life, Coby Brooks married Amber Martinez in 2009.
|Full Name||Coby G. Brooks|
|Net Worth||$20 Million|
|Date Of Birth||May 17, 1969|
|Place Of Birth||United States of America|
|Parents||Robert H. Brooks|
|The Hooters 2010 International Swimsuit Pageant||2010||TV Movie||Himself - CEO|
|Undercover Boss||2010||TV Series||Himself|