Fred graduates from the university of bridgeport in connecticut with a degree in psychology by paying his way with the money he made at the sandwich shop. Forbes estimated buck's net worth at $1.7 billion. Jersey Mikes Subs - Our History The sandwich shop was renamed subway two years later. Pete's super submarines is now called . The place was initially called “pete’s super submarines”, named after the popular submarine sandwiches at the time. The restaurant was renamed subway two years later, and a franchise operation began in 1974 with a second restaurant in wallingford, connecticut. Subway was founded by 17 year old fred deluca and financed by peter buck in 1965 as pete's super submarines. Originally called “pete’s super submarines,” they sell 312 sandwiches the first day. By 1968, it was once again renamed to the subway we know today. Which fast food brand was originally called pete's super submarines? Subway was founded by 17 year old fred ...