Peter Morton Net Worth

Peter Morton is an American businessman who has a net worth of $500 million. Peter Morton earned his net worth as the co-founder of the Hard Rock Cafe. Peter's father is Arnie Morton who founded Morton's Steak House and Peter's son Harry Morton is the founder of the Pink Taco restaurants. Peter was born in Chicago in 1947. He graduated from The University of Denver where he was a member of the Phi Sigma Delta fraternity. Morton opened his first Hard Rock Cafe near the Hyde Park Corner of London, England. Morton and co-founder Isaac Tigrett agreed to open their own Hard Rock Cafes across America. Morton called his Hard Rock America and subsequently opened cafes in San Francisco, Chicago, Houston, Las Vegas, San Diego, La Jolla, Newport Beach, California, Sydney and Melbourne, Australia, Honolulu and Maui, Hawaii. In 1995 several of Morton's cafes were acquired by The Rank Group aka The Rank Organization who retained the Hard Rock Hotel & Casino in Las Vegas, Nevada. The Rank Group spent a total of $410 million dollars for the properties they acquired from Morton. Morton is the current owner of The Ivy and Morton's Restaurant, both of which are located in Los Angeles. He is a member of the Museum of Contemporary Art, Los Angeles, and a member of the board of trustees for the Natural Resources Defense Council. He also made a generous donation to UCLA which in turn resulted in the UCLA Medical Plaza Building being renamed the Peter Morton Medical Building. Morton was married to model Paulene Stone in the 1980s.