Ron Joyce, billionaire and co-founder of Tim Hortons, was 88.
Joyce was the first franchise owner of the now-iconic coffee and doughnut chain in 1964, later partnering with Tim Horton in 1967.
In 1974 Joyce took over as the owner of the business because Horton passed away in a car accident.
He was also known for his philanthropic work, receiving the Order of Canada in 1992 for his work with underprivileged children and youth.
Worldwide, there are currently over 4500 Tim Hortons locations.
