Joe Faro Net Worth – How Much Is Joe Faro Worth?
Those who are familiar with Joe Faro may recognize him as the owner of the Sandcastle mansion in The Big Short (2011), or as an actor in The Big Short, or as a restaurateur at City Tap House Paul Barber and the Equine Affaire. He’s also a big-shot real estate developer in the Hamptons. However, Joe’s true passion is family and friends. He spent his childhood working at his parents’ bakery in Haverhill, Mass. Eventually, he started his own pasta business, Joseph’s Gourmet Pasta and Sauces, which doubled its output every year between 1997 and 2005. It was then that he reached out to Olive Garden and pitched his homemade pastas and sauces to them. Ultimately, it was his persistence that paid off and Joseph’s Gourmet Pasta and Sauces became the preferred pasta vendor for Olive Garden, along with other major restaurant consortiums.
As a high school senior, Faro learned about the Holloway Competition. This competition allows students to present business plans. He entered it and finished second. The prize included a cash award for his startup.
When he graduated, Faro was a student at the University of New Hampshire and was earning a 1.7 GPA. He got a few student loans, and worked two jobs to get through college. But he had enough money to retire at age 40. Several years ago, Faro tried to retire to country club life, but his passion for the sea had him rethinking his plans. He decided he wanted to build a pasta factory. So, he purchased seven Depot buildings in downtown Salem, N.H. and planned to turn them into an artisan-Italian restaurant.
Faro says his father started as a hairdresser and paddle boarder. He then went on to become a baker and skiier. But when his father started to get into trouble, he quit. Now, he owns houses in Seabrook Beach, N.H. and Sicily, as well as several houses in Salem, N.H. He recently bought the Rockingham Race Track in Salem, N.H. He’s currently in the process of developing a 170-acre Tuscan Village in Salem, N.H. The project will feature fine restaurants, shopping villas, and luxury residences.
The town planner in Salem, Ross Moldoff, said that he was impressed with Faro’s vision and work ethic. He has observed Tom’s eye for detail and the passion he has for his work. And he’s also noticed that Tom is easy to work with.
Faro’s parents moved to the United States from Italy when he was young. As a child, he helped his father run a small corner bakery in Haverhill, Mass. He later went to college at the University of New Hampshire and began his pasta business. At the time, Olive Garden had 650 restaurants and Joseph’s Gourmet Pasta and Sauces had just been started. When Joseph’s Gourmet Pasta and Sauces sold to Buitoni in 2006, the company was the nation’s largest specialty pasta manufacturer. But the company wasn’t very popular.