Mr. DeLuca co-founded Subway in 1965 when he was just 17 years old. With a $1,000 loan from his friend Peter Buck, a doctor, Mr. DeLuca opened his first sandwich shop, called Pete’s Super Submarines, in Bridgeport, Conn. Initially, his plans were to raise money from the shop to help pay for his education to become a doctor.
Instead, Mr. DeLuca became a sandwich magnate. The partners set a goal of opening 32 stores in a decade. In 1974, when Messrs. DeLuca and Buck had 16 sandwich outlets throughout Connecticut, they realized they wouldn’t meet their goal unless they franchised the brand. Mr. DeLuca, a pioneer in restaurant franchising, turned Subway into a global empire with more than 44,000 locations. Forbes this year estimated his net worth at $3.5 billion.