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Peter Morton Net Worth: How Rich is Harry Morton’s Father?



Peter Morton Net Worth

Peter Morton is an American businessman best known as the co-founder of the Hard Rock Café and also a chain of dining restaurants. As of 2019, Peter Morton net worth is estimated to be $800 million.

Peter was born on August 7, 1947, in Chicago, Illinois. He is the son of Arnie Morton, founder of Morton’s Steakhouse chain, and his first wife. Morton graduated with a B.S.B.A. in restaurant and hotel management from the University of Denver in 1969.

Peter’s family is associated with the business. His half-brother Michael Morton is a restaurateur and businessman. He had one son Harry Morton along with his first wife Paulene Stone. Harry was the founder of Pink Taco restaurants who recently died on November 23, 2019. Peter and his first wife Paulene divorced in 1989. In 1990, Peter married Tarlton Pauley but they divorced seven years later in 1997.

From an early age, Peter had a sight on business. He learned the restaurant business from his father Arnie who was Hugh Hefner’s right-hand man in Chicago. His parents had a restaurant in Chicago for around 23 years. His father Arnie founded the Morton’s Steakhouse chain which he sold for $13 million in 1987.

Peter first opened Hard Rock Café near Hyde Park Corner in London, England. Morton and his business partner Isaac Tigrett agreed to expand their business globally on separate tracks. Morton was in charge of “Hard Rock America” which covered in places like Los Angeles, Chicago, San Francisco, Houston, Sydney, Melbourne, Hawaii, and many other places.

In 1995, Morton sold most of his locations to the Rank Organization for a total of $410 million in cash. In May 2006, Morton sold the Hard Rock Hotel & Casino in Las Vegas to Morgans Hotel Group.

Morton is also involved in community activities. He is a member of the Board of Trustees for the Museum of Contemporary Art, Los Angeles and sits on the board of trustees for the National Resources Defense Council. He once made a donation to UCLA and the building was renamed the Peter Morton Medical Building later.

Peter Morton Net Worth: $800 million

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