Montgomery Moran was born in 1966, in Denver, Colorado USA, and is now best known as Monty Moran, a co-Chief Executive Officer(CEO) at Chipotle, basically a fast-food restaurant chain serving Mexican cuisine, a position to which he was appointed in January 2009,
So just how rich is Monty Moran? Authoritative sources estimate that Monty’s net worth is now over $120 million, much of it gained in the period he has managed Chipotle, where his salary is over $4.5 million a year, plus stock options amounting to almost $30 million a year, the total estimated to reach almost $110 million in the last three years. (Shareholders of the company vetoed a rise this year!)
Montgomery Moran Net Worth $120 Million
Monty Moran graduated in 1988 with a Bachelor of Arts degree in communications from the University of Colorado, and subsequently with a J.D., cum laude, from Pepperdine University School of Law in 1993. Monty aimed to be a trial lawyer, and so he joined Morris Polich & Purdy in Los Angeles, concentrating on relatively small cases which meant he could develop into being a prime attorney. This was a good base to starting his net worth.
Monty Moran obviously did well in his work, but then in 1996 he moved back to Denver to join the Messner & Reeves law firm where he rose rapidly within the company, becoming a partner within two years, and then CEO the following year. Monty was obviously good at management, as well as law, but one of his clients became Chipotle, for whom he was their general counsel, during a period when the company was going through an initial expansion stage. All this work helped grow his net worth considerably.
However, Monty Moran also had another connection with Chipotle – he and founder of the restaurant chain, Steve Ells had been high school classmates, developing their friendship when in college. Moran would have dinner at Ells’ house, where Monty says that Steve served up delicious gourmet food, including burritos, which Monty really appreciated, and learning that his friend planned to open his own restaurant and serve them. So returning to Denver, Moran didn’t need much convincing to start doing legal work for Chipotle, mostly working on leases, as his legal experience was not only in trials, but also employment matters, real estate and other transactional matters, on top of general corporate counseling.
This in-depth experience gained from the time Chipotle had only a few restaurants to dealing with several hundred restaurants eventually saw Monty agree to join the company in 2005, as President and Chief Operating Officer(COO) – the company obviously valued his management skills across the board, including personnel, as much as his legal expertise. Of course his net worth was to grow steadily from that point.
Monty Moran is now viewed as the visionary and creator of the continued expansion of the restaurant program, but especially inculcating a culture of high performers throughout the Chipotle company, and in particular the fast-food does not mean ‘junk-food’. The company has expanded from less than 20 restaurants to almost 1700, from less than 100 employees to almost 10,000, with revenue at nearly $1.5 billion and a profit margin of 12%.
In his personal life, Monty Moran and Kathy have been married since 1996 and have three children.