Too old to be an entrepreneur? Here are 10 superstar entrepreneurs who started over 50

As we step into the New Year, the passage of time often brings reflections on the perceived advantages of youth and the challenges of ageing. However, one lesson we’ve learned at EU-Startups is that entrepreneurship knows no age.

Around the world, countless individuals have launched thriving businesses well beyond the age of 50, harnessing the power of their life experiences, resilience, and determination. From iconic figures like Colonel Sanders of KFC to more recent and localised success stories, age has proven to be no barrier to innovation.

Here are ten remarkable entrepreneurs who began their journeys later in life and achieved, or are still achieving, incredible success.

From youngest to oldest

1. Bernie Marcus (The Home Depot): After being fired at 50 from his position as CEO of the Handy Dan home improvement company, Bernie Marcus co-founded The Home Depot. The first two stores were opened in 1979 in Atlanta, Georgia, USA. Drawing on his retail experience, he envisioned a one-stop shop for home improvement needs. Despite initial troubles, including a flawed promotional stunt that included giving random pedestrians a dollar to enter the store, Home Depot has since become a leading retailer in its sector with a market cap of €373.2 billion.
2. Ray Kroc (McDonald’s): Ray Kroc was 52 when he opened his first McDonald’s franchise. After decades as a salesman selling paper cups and milkshake machines, he recognised the potential in the McDonald brothers’ small hamburger restaurant. Kroc eventually bought the company at 62 and transformed it into a global fast-food empire. Today, McDonald’s Corp. is in over 41,800 locations in more than 100 countries with a market cap of €176.2 billion.
3. Arianna Huffington (The Huffington Post): The journalist Arianna Huffington launched The Huffington Post at 54 in 2005. After a successful career in writing and politics, she created the news and blog site, which became a significant media outlet and was later acquired by AOL 2011 for €304 million. In 2012, the website became the first commercially run United States digital media enterprise to win a Pulitzer Prize.
4. Peter Donnelly (Genomics plc): Peter Donnelly co-founded Genomics plc in 2014 at the age of 54, leveraging his academic expertise as a professor at the University of Oxford. Recognising a gap between advancements in genetics and their application in healthcare, Donnelly established Genomics to bridge this divide. The company develops analytics for genome sequence data, enabling breakthroughs in precision medicine and drug discovery. With a vision for genomic prevention—delivering care before illness strikes—Genomics has raised €79.7 million across six funding rounds.
5. Taikichiro Mori (Mori Building Company): Taikichiro Mori was 55 when he left his academic career as a professor to start a real estate business in 1959. His firm, Mori Building Company, became a dominant force in Japan’s property sector, his strategic developments in Tokyo’s Minato ward led to significant urban transformation. By the 1990s, Mori was named the world’s richest man twice, with a a net worth of €14.5 billion built entirely on his real estate ventures.
6. Wally Blume (Denali Ingredients): Wally Blume founded Denali Ingredients in 1995, best known for its signature Moose Tracks ice cream, at the age of 57. The company currently offers over 40 flavours and has an estimated annual revenue of €77 million. With over 20 years of experience in the dairy industry, Blume leveraged his and his wife’s expertise to achieve success in the dairy products sector.
7. Dr Carmen Hijosa (Ananas Anam): At the age of 60, Dr. Carmen Hijosa founded Ananas Anam in 2013, the company behind Piñatex—a sustainable textile made from pineapple leaf fibres. Drawing on her extensive experience in the leather industry, Dr. Hijosa developed an eco-friendly alternative that has been embraced by major fashion brands worldwide. Her innovation not only offers a sustainable material but also provides additional income to farming communities involved in pineapple cultivation. As of 2022, Adam has raised €3.6 million in investment across eight funding rounds.
8. Amadeo Giannini (Bank of America): Amadeo Giannini started Bank of America at 61 in 1908. He aimed to provide banking services to immigrants and the working class, growing the bank into a major financial institution with an annual revenue of €82.2 billion as of 2021, and a current market cap of €326.4 billion.
9. Colonel Harland Sanders (KFC): At 62, Harland Sanders began operating his now world-famous fast-food restaurant Kentucky Fried Chicken (KFC), franchising the recipe within a year. After years of various jobs including that of an engine stoker, railwayman, and insurance salesman, Sander began gaining local popularity for his chicken recipe while working at a service station in Kentucky, USA. After a fire destroyed the station, Sanders rebuilt the location as a motel and 140-seat restaurant in 1952. By 1964, KFC had expanded to over 600 locations, and Sanders sold the company for €1.9 million, the equivalent of €15.2 million today. Today, KFC has 18,800 outlets in 118 different countries and territories, with a market cap of €9.2 billion.
10. Lady Amanda Feilding (Beckley Psytech): In 2018, at the age of 76, Lady Amanda Feilding co-founded Beckley Psytech to explore the therapeutic potential of psychedelics, specifically focusing on the compound 5-MeO-DMT as a treatment for mental health conditions such as addiction and depression. Drawing on over 50 years of experience in psychedelic research, Feilding has co-authored more than 50 peer-reviewed publications and founded the Beckley Foundation, a non-profit dedicated to advancing scientific understanding of psychedelics. Beckley Psytech has raised €90 million across three funding rounds.

A 2009 report from the Kauffman Foundation even highlighted that entrepreneurship is not confined to the young, with U.S.-born tech entrepreneurs in their fifties launching startups at twice the rate of their early-twenties counterparts. The study also reveals that 92% of founders hold at least a bachelor’s degree, with many pursuing advanced education, particularly in business and STEM fields. This highlights the value of experience and lifelong learning, as individuals often leverage established expertise and career progression to transition into entrepreneurial roles.

All of this to say, that its never too late to pursue entrepreneurial ambitions and join the ever growing list of the EU-Startups Database. With experience and determination, success can come at any age.