Dr. Buck passed away in November 2021, but his will states his half of the Subway empire will be donated to the philanthropic organization that he co-founded in 1999 with his wife:
The PCLB Foundation's mission statement is to "give motivated people the tools they need to help themselves." The foundation awards a number of grants, with an emphasis on K-12 public education in the New York and Connecticut areas.
but also supports various additional environmental, medical, and journalistic efforts and organizations as well.
In the Foundation's own words, PCLB "looks to support the highest quality organizations that show initiative, leadership, and innovation in solving issues that impact individuals and communities."
The juggernaut sandwich brand we all know as Subway today never would have happened without Dr. Buck. Back in 1965, a then 17-year-old Fred DeLuca approached Dr. Buck.
A family friend and nuclear physicist, looking for advice on how to pay for college. The pair devised a plan for DeLuca to open a local sub-shop in Connecticut and Dr. Buck donated $1,000 to the new business.
The rest, as they say, is sandwich history—and the DeLuca and Buck families have remained friends and business partners ever since.
The iconic sandwich chain is expected to be valued at over $10 billion. That means if a sale does occur, the PCLB Foundation may receive around $5 billion. Not a bad return on Dr. Buck's initial $1,000 investment in Subway.