The Hard Rock Cafe is a known chain of theme restaurants that were founded by Isaac Tigrett and Peter Morton in 1971 in the United Kingdom. Today, their headquarters is located in Davie, Florida, in the United States. But do you know who the current owners of the entire chain are?
The Seminole Tribe of Florida currently owns the Hard Rock Cafe company. In fact, they are known to be the richest among the native American tribes because of this. Every Seminole child is born a multi-millionaire and gets access to their money by the age of 18.
The History of the Hard Rock Cafe
Americans Peter Morton and Isaac Tigrett established the first Hard Rock Cafe in London in 1971. The two friends just wanted to find a good old American burger while they were living in London, and the only solution they saw was to open up their own American-style diner.
They started their small-time diner in an old Rolls Royce dealership and called it The Hard Rock Cafe. The landlord didn’t think the business would last and gave the duo a 6-month lease.
The logo of the cafe was created by Alan Aldridge, a celebrity artist who is well known for his work with The Beatles. The concept of the logo was based on the design of Chevrolet’s hood ornament. They were originally going to use standard Americana colors; good old red, white, and blue. But decided that was a little too much.
By 1982, they opened the first US Cafe in Los Angeles, and today there are over 200 Hard Rock Cafes in 68 countries. (Source: Hard Rock Cafe)
The Seminole Tribe of Florida
Some analysts have the Seminole Tribe of Florida, valued at several billion dollars, has become the first American Indian tribe to be classified as a bullish corporation. More than 30 years ago, the Seminoles of Florida were the first American Indian tribe to build a casino on Indian soil. Because of their success, they are frequently approached by outside investors asking the country to make a casino on the Las Vegas Strip. (Source: Indian Country Today)
In 2006, the Tribe obtained what is now known as the Seminole Hard Rock Hotel & Casino after beating 72 bidders. They paid a total of $965 million for the chain. The Seminole Tribe generated about $5 billion in revenue in 2016 from its various operations, including 23 hotels, 11 casinos, and 168 Hard Rock cafés.
Members of the Tribe receive $128,000 a year in biweekly payments. By the time Seminole children reach the age of 18, they become multi-millionaires, as neither the child nor the parents are permitted to withdraw cash from the trust funds until the youngsters reach adulthood. (Source: Money Inc)
Today, the Seminole Tribe of Florida owns and operates all Hard Rock units except; Las Vegas, Sioux City, and Vancouver properties. This is under the supervision of James F. “Jim” Allen, who is currently the chairman of Hard Rock International, and CEO of Seminole Gaming. (Source: Hard Rock Cafe)