'Ex-Hedge Fund Trader Amasses $135 Million Burrito Empire'
Money | June 19, 2024, 11:14 p.m.
Steven Marks, originally from Long Island, was unimpressed with the quality of Mexican food in Australia when he moved there in the early 2000s. Determined to change that, he and childhood friend Robert Hazan opened Guzman y Gomez in 2006, starting a Mexican-themed fast-food chain that has now expanded to over 200 locations across Australia, Singapore, Japan, and the US.
With a successful IPO on the Australian Securities Exchange, Guzman y Gomez is now valued at A$2.2 billion, making Marks one of the company's largest shareholders. Despite initial skepticism, the chain has attracted investors like former McDonald's CEO Guy Russo, positioning itself as a major player in the fast-casual dining market.
Analysts remain cautious about the company's valuation and profitability, but Marks's perseverance and dedication to quality have positioned Guzman y Gomez for continued success in the competitive restaurant industry.