Richard Montañez Net Worth: From Janitor at Frito-Lay to Inventor of Flamin’ Hot Cheetos—How Much Does He Really Make?
Many people might not be familiar with the name Richard Montanez. But they’ve probably tried one of his famous creations, Flamin’ Hot Cheetos!
This American entrepreneur had humble beginnings and built a successful career thanks to his creativity. Many aspiring business people and young adults want to know how rich someone can get if they pursue their dreams.
So, what is Richard Montanez’s net worth? Keep reading to find out.
Who Is Richard Montanez?
Richard Montanez is an American businessman, entrepreneur, motivational speaker, and author. He started his journey as a janitor after dropping out of school and became an executive.
But let’s start at the very beginning.
Montanez was born in California in 1958 to a Mexican-American family. Growing up as one of 10 siblings, he was raised in a migrant labor camp in Guasti, a small community outside Los Angeles.
Just like most immigrants, Montanez’s parents struggled financially, so he couldn’t continue his studies and had to drop out of school to make some money to support his family. He started working several low-paying jobs until one of his friends told him about an opening at Frito-Lay.
Before he turned 18, he got a job as a janitor at Frito-Lay in 1976. Yet, he had big dreams for his career and wouldn’t settle for cleaning chores.
What Is Richard Montanez’s Net Worth?
Some estimates state that Richard Montanez has a net worth of about $15 million. He gained most of this money from being an employee at Frito-Lay, the company he started working for as a teen until he retired in 2019.
However, today, Montanez makes money from his motivational speeches and events, where hundreds of people attend to learn about his inspiring story.
He also wrote books A Boy, a Burrito, and a Cookie and Flamin’ Hot: The Incredible True Story of One Man’s Rise from Janitor to Top Executive.
He makes money by selling copies, conducting promotional tours, and collaborating with brands that want to tell his story.
In 2023, a movie called Flamin’ Hot was produced about his life. However, he didn’t reveal if he received any money in exchange for his input.
Career Beginnings
Only one year later, after joining Frito-Lay, Richard Montanez was promoted to become a machinist operator. His dedication impressed his supervisors, and he thought he could help the company. He maintained this position for 16 years.
Flamin’ Hot
The idea for the new Cheetos flavor came to Montanez one day after a machine broke down. He went home with many unflavored snacks and thought about improving their taste.
While sitting home, he came up with an idea for an extra spicy flavor that would appeal to the Latino market. He tried flavoring them with Mexican spices, typically used for street corn, and he liked the new flavor.
The next day, he pitched his idea to the CEO, Roger Enrico, over the phone and liked it very much. Enrico asked him to do an in-person presentation and put the new flavor to the test.
1992 Flamin’ Hot Cheetos was approved for production, and Montanez was promoted to senior machinist operator.
The new product quickly gained popularity and expanded to become a new line, generating billions of dollars in revenue for the company.
A Controversy
Frito-Lay disagrees with the previous story. An article published in the Los Angeles Times in 2021 revealed that the company didn’t credit Montanez for creating the Flamin’ Hot Cheetos.
The company’s representative explained that Montanez has always been a hard worker and contributed a lot to the company’s success. However, he didn’t invent the Flamin’ Hot flavor.
A detailed investigation showed that his claims don’t align with the product’s release timeline. For example, in 1989, records show that American food company McCormick invented the flavoring and provided samples to Frito-Lay.
His story contains several inaccuracies that make people question its authenticity. For example, articles about a test release in 1990 and some interviews with previous workers mentioned the name of another employee, Lynne Greenfeld, giving him credit for inventing the flavor.
Taking Credit
Despite this controversy, the article credited Montanez for pitching several new products like Flamin’ Hot Popcorn, Flamin’ Hot and Lime, and Chile Corn Chips.
Some former employees reported that Montanez came up with Flamin’ Hot Cheetos as part of a group of employees looking for new ideas to appeal to the Latino market. Still, he wasn’t the only one working on the project.
Richard Montanez maintained his claims that he was pushed out of meetings before the testing period because of his low position at the company. Eventually, PepsiCo, which owns Frito-Lay, stated that it would acknowledge Montanez’s efforts. However, the statement didn’t deny or confirm the allegations of the Los Angeles Times.
Later Career
Richard Montanez with his son
Richard Montanez retired in 2019 during an internal investigation about his Flamin’ Hot claims and currently lives with his wife Judy and his three children.
He started giving speeches about inventing Flamin’ Hot Cheetos in the late 2000s before writing books and becoming a famous motivational speaker.
In 2024, he finally filed a lawsuit against PepsiCo for committing defamation, fraud, and racial discrimination against him.
The Wrap-Up
Richard Montanez is an American businessman and entrepreneur of Mexican descent. He is primarily famous for claiming to have invented the Flamin’ Hot Cheetos in the early 1990s.
With a net worth of $15 million, he worked at Frito-Lay since 1976, eventually becoming the Vice President of Multicultural Sales and Community Promotions for PepsiCo North America. However, he wasn’t given official credit for creating the flavor that added billions of dollars to the company’s revenues.
The American entrepreneur told his story in two books that he wrote, and a movie was produced about his life. He is currently a motivational speaker, telling people about his incredible story.