Founder of Chipotle Becomes Billionaire—32 Years After Rolling His First Burrito

It’s the kind of story that proves long-term vision and persistence can still pay off—Steve Ells, the founder of the globally recognized Mexican fast-casual chain Chipotle, has officially become a billionaire, three decades after he first launched the brand in a modest storefront in Denver, Colorado.

Back in 1993, Ells had one simple goal: to open a small taco shop that could fund his dream of becoming a fine-dining chef. With just $85,000 borrowed from friends and family, he started Chipotle with a unique proposition—fast food made with fresh, high-quality ingredients. Little did he know, he was laying the foundation for a brand that would completely revolutionize the American dining landscape.

Unlike traditional fast food joints, Chipotle emphasized sustainability, hormone-free meats, and customizable meals served quickly—a model that would soon explode into the “fast-casual” boom. As consumer tastes shifted toward healthier and more ethical choices, Chipotle became a favorite for its “Food with Integrity” philosophy.

Ells led the company through its massive growth phase, expanding across the U.S. and eventually going public in 2006. While he stepped down from his role as CEO in 2017, he retained a significant equity stake. Now, as Chipotle’s market value has surged past $70 billion thanks to strategic innovation and digital expansion, that stake has finally pushed his net worth over the $1 billion mark.

What’s especially notable is the timing. While most startup success stories feature explosive growth and quick exits, Ells’ journey underscores the power of patience, consistency, and purpose-driven business.

From one store in Colorado to thousands of locations worldwide, Chipotle’s story is a reminder that sometimes, the best returns are slow-cooked. And for Steve Ells, it took 32 years—but the billionaire burrito dream is now a reality.