Raising Cane’s Founder Todd Graves Becomes Louisiana’s Richest Man
If you have ever had one of those GLORIOUS box combos, or maybe you wanted to go big and get a Caniac, regardless of what you get, most of us have had Raising Cane's. Over the weekend, it became official that Raising Cane's Founder Todd Graves is now the wealthiest man in Louisiana.
With a nearly 90-percent stake in the empire he created, Raising Cane's founder and CEO Todd Graves has amassed a $7.6 billion fortune from selling cooked chicken fingers to now find himself on Bloomberg's Billionaire Index on Thursday. Graves has reached a net worth of $7.6 billion, becoming the richest person in Louisiana, surpassing Saints and Pelicans owner Gayle Benson.
The fast food chain has grown to more than 750 locations, with the first Cane's opening in 1996 on the Louisiana State University campus. The company expanded to Louisiana's neighboring state of Texas, now its biggest market. Raising Cane's can be found in 37 states and four Middle Eastern countries.
Contrary to what was popular then, Todd envisioned a limited menu that offered only ONE LOVE—quality Chicken Finger Meals. Many people didn’t believe this concept would work, including bankers, investors, and the college professor who gave Todd the lowest grade in the class for his idea.
After Todd was rejected from every bank he pitched, Todd set out to fund his dream by working two treacherous jobs. The first was at an oil refinery in L.A. and the second on an Alaskan fishing boat, where Todd worked 20 hours a day, fishing for Sockeye Salmon in ocean waves.
After saving up enough money, in August of 1996, Todd Graves opened Cane’s 1 (aka the Mothership) near Louisiana State University – and the rest is history. Raising Cane’s is now the Fastest Growing Chicken Chain in the country, employs over 50,000 Crewmembers, and operates in 33 states.
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