OC’s Wealthiest 2023: Lynsi Snyder

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LYNSI SNYDER
OWNER, PRESIDENT
IN-N-OUT BURGER

THE MONEY: Upon turning 35, took over 96% ownership of the Irvine-based burger chain founded in 1948 by her paternal grandparents, Harry and Esther Snyder. She had seen a slow increase in her holdings in the company for a decade as part of a trust created by her grandparents.

THE NUMBERS: The nearly 390-store chain posted $1.8 billion in 2022 revenue, up 10% year-over-year, according to Technomic. Company is OC’s largest woman-owned business. Expanding to new markets, including Tennessee, its farthest push east to date.

KEY FIGURE: Forbes has listed Snyder as one of the youngest women in its Forbes 400 listing of billionaires. The magazine currently pegs her fortune at $4.2 billion, well over the Business Journal’s estimate, which factors in a price of more than $10 million per In-N-Out location, if it were to be sold.

PORTFOLIO: In-N-Out owns all of its stores, and Snyder is on record vowing that it will remain a private company.

FAMILY HISTORY: She took over the president’s role in 2010 from Mark Taylor, who’d served as president since her grandmother’s death in 2006. Her father died in 1999.

Racing Stripes

In-N-Out Burger recently took over naming rights for the Pomona Fairplex drag strip.
Owner Lynsi Snyder had a custom drag racer built to mark the occasion.
“There’s a lot of car culture within In-N-Out in our history, and I felt like it was really special and honoring my family as well and just knowing that we want to sponsor and be a part of such a sport that’s near and dear to our hearts and my family,” Snyder said, according to drag racing website CompetitionPlus.
Her new car reportedly topped 206 mph during one outing.
“It’s been five years since I’ve raced, very happy with my car,” Snyder told the media at the event.
“Absolutely love it and really can’t wait till the next race. Beautiful machine by Jerry Bickel chassis and amazing paint. We can’t wait to see the car on track as often as is possible.”

THE MONEY: With brother Lorenzo, bought mixed martial arts promoter UFC for $2 million in 2001; cashed out in 2017 when UFC had a $5 billion valuation, each brother reported to have 40.5% stake in business. Took family’s casino business, Red Rock Resorts, public in 2016; the brothers own Las Vegas’ Station Casinos now valued at about $1.3 billion. Cousin Tilman Fertitta bought Laguna Beach’s Montage resort last year for $650 million; he also owns the Houston Rockets and restaurant firm Landry’s, whose portfolio includes several OC properties (see story, page 1).

STOCK BOOST: Value of Red Rock Resorts is up nearly 50% year-over-year, to valuation of $5 billion. Family has a significant stake in company and controls all voting matters.

WEEKEND WEALTHY: Bought a beachfront home in Emerald Bay community of Laguna Beach in 2009 for $28 million. Family has other nearby properties, and last year was reported to have paid $43.5 million for a recently rebuilt home in the same community along the water. That deal is among the top 10 most expensive sales in OC history.

YACHT UPGRADE: Frank and Lorenzo are each reported to own superyachts valued more than $125 million, along with “planes and major pieces of contemporary art,” noted a 2019 report from CNBC. Frank reportedly got a new and improved vessel last year. Dubbed Viva, it counts an estimate $175 million value. It is reported to be the 85th largest superyacht in the world. “The yacht’s helicopter sports the tail number N702FF, which was believed to have been chosen for Fertitta’s initials,” said a 2022 report in the Nantucket Current, when the vessel was in the area.

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