Todd Graves Net Worth: Inside the Raising Cane's Founder's Wealth Journey
Todd Graves' net worth has nearly doubled to an impressive $17.2 billion in 2025, based on recent financial data from Forbes. His fast-food chain Raising Cane's had a record-breaking year and generated $5.1 billion in revenue last year.
The story behind Todd Graves' wealth reflects his remarkable business experience. The Raising Cane's founder has seen his net worth surge from $9.5 billion just a year ago. He now ranks as the 293rd richest person in the world on the Forbes Billionaires List.
His chicken finger empire expanded to nearly 900 locations across 42 states in 2024 and opened more than 100 new restaurants. The chain's performance has been exceptional. Average sales per store climbed to $6.6 million in 2024 while EBITDA approached $1 billion. Graves owns approximately 91% of the business and has received at least $250 million in dividends since 2020.
Todd Graves Net Worth in 2025: The Numbers
Todd Graves, the founder of Raising Cane's, has joined America's wealthiest people in 2025. His exact worth remains a topic of discussion among financial publications because his company stays private.
How much is Todd Graves worth today?
Forbes' latest financial analysis shows Graves' wealth has grown to $17.2 billion. This number is almost double what he was worth last year. Bloomberg puts his net worth at $10.20 billion, which is $3.30 billion more than their last estimate.
Most of Graves' wealth comes from his huge stake in Raising Cane's. He owns about 91% of the business through a trust called Sockeyes LP. His large ownership in this faster-growing restaurant chain explains why he climbed so quickly among America's billionaires.
Todd Graves net worth Forbes estimate
Graves ranks as the 293rd richest person worldwide on the Forbes Billionaires List. He also stands at #107 on the 2024 Forbes 400 List of richest Americans, showing his strong position among the nation's business leaders.
His personal earnings tell an impressive story. Since 2020, he has received gross distributions of more than $500 million from Raising Cane's. Forbes analysis reveals he paid himself at least $250 million in dividends during this time.
Comparison with other fast food moguls
Graves is still new to the billionaire rankings compared to other fast-food giants. This marks only his second year on the Forbes Billionaires List.
Gayle Benson, who owns the New Orleans Saints and Pelicans, is the only other Louisiana resident on the list. Her net worth sits at $7.10 billion (ranked #464). What makes Graves' fortune unique is that it comes almost entirely from one restaurant concept with a very simple menu.
His wealth keeps growing. Raising Cane's brought in $5.10 billion in revenue and $928 million in earnings before interest, taxes, depreciation, and amortization in 2024. These numbers suggest the founder's net worth will keep climbing.
The Origin Story: From Rejection to Raising Cane’s
Todd Graves' path to becoming a billionaire started in a college classroom at Louisiana State University. His net worth now stands at $17 billion, but his professors once completely dismissed his business plan.
The college project that got the lowest grade
I created a business plan during my business studies at LSU in the early 1990s. The concept was simple – a restaurant that would serve only chicken fingers, fries, and Texas toast. My professors completely rejected the idea and gave it the worst possible grade.
They claimed the limited menu wouldn't make enough money and the spot I picked near campus wasn't right. The feedback was discouraging at first, but I stayed committed to my idea despite what my professors thought.
Working in oil refineries and fishing in Alaska
After this setback, I had to find my own way to fund the restaurant. I started with tough jobs at Louisiana oil refineries where I worked 90-hour weeks in dangerous conditions. The money still wasn't enough, so I headed to Alaska.
I spent months on fishing boats catching sockeye salmon in rough waters. These physically demanding jobs helped me save about $95,000, which was enough to get an SBA loan and turn my chicken finger dream into reality.
Opening the first Raising Cane's in 1996
I came back from Alaska with my savings and started fixing up an old building near LSU's north gates. The spot was exactly where my professors said not to open – which makes it even better. I did most of the renovation work myself to cut costs.
The first Raising Cane's opened on August 28, 1996. We made just $876 on the first day – a humble start for what would grow into a billion-dollar business. The restaurant got its name from my yellow Lab, Raising Cane. He stayed with me through the construction phase and became the chain's beloved mascot.
How Raising Cane’s Built a Billionaire
Todd Graves built his wealth through a remarkably simple business model at Raising Cane's. His journey from a single location in 1996 has grown into a nationwide chicken finger empire that made him a billionaire.
Limited menu, high efficiency
Raising Cane's stands out from other fast-food chains with just five menu items: chicken fingers, crinkle-cut fries, coleslaw, Texas toast, and their signature Cane's sauce. This simple approach creates amazing operational efficiency.
The kitchen runs smoothly with fewer ingredients to stock and simpler operations that speed up service. The results speak for themselves – each location averages $6.6 million in sales, which doubles Chick-fil-A's performance.
Sales per store and national expansion
The chain's growth story continues to impress. Nearly 900 restaurants now serve customers across 42 states, and plans target 1,000 locations within two years. Revenue reached $5.1 billion in 2024, while EBITDA approaches $1 billion. The chain's outstanding store performance stems from strict operational discipline and a laser-focused concept.
Celebrity marketing and social media strategy
Smart partnerships with celebrities like Snoop Dogg and Post Malone have boosted the brand's visibility. The company's TikTok account attracts younger customers with its 723,000 followers. This strong social media presence and strategic marketing build brand recognition without breaking the bank on advertising.
Shark Tank and other media appearances
Despite internet rumors, Graves never appeared on Shark Tank. Yet his appearances on Fox Business and other networks have enhanced his reputation as a restaurateur and entrepreneur. These media platforms gave him valuable exposure without traditional advertising costs.
Restaurant Recovery and community involvement
Graves launched "Restaurant Recovery" during the pandemic to help struggling restaurants survive. His company donated millions to local communities where Cane's operates. The $2 million contribution to COVID relief efforts shows this commitment. These initiatives built strong brand loyalty while establishing Graves as a business leader who gives back to society.
Ownership, Dividends, and Future Plans
The life-blood of Todd Graves' immense wealth comes from his extraordinary ownership position in Raising Cane's. Graves maintains over 90% ownership of the chicken finger empire instead of diluting his stake through multiple investors.
Graves' 90%+ ownership stake
Graves controls approximately 91% of the business through a trust called Sockeyes LP. This massive ownership stake has made him Louisiana's wealthiest resident.
Dividends and personal earnings since 2020
Raising Cane's distributed total dividends of $183 million between fiscal years 2020 and 2022. Graves collected at least $250 million in personal dividends during this period. These earnings directly contributed to his status as a billionaire.
Plans for global expansion and $10B revenue goal
Graves has ruled out taking the company public or selling to private investors.
He can foresee Raising Cane's becoming a "top 10 restaurant brand" with bold targets:
- $10 billion in annual sales by decade's end
- 1,600 restaurants globally
- $8 million average unit volumes
- $100 million in community contributions
Raising Cane's founder Todd Graves net worth outlook
The company reached its first billion-dollar quarter in 2024. Financial experts expect continued growth for both the chain and Graves' personal fortune. Notwithstanding that, Graves keeps his focus on long-term vision rather than short-term gains.
Conclusion
Todd Graves' remarkable experience from rejection to a $17.2 billion net worth is evidence of perseverance and business acumen. His college business plan received the lowest possible grade but evolved into one of America's ever-changing restaurant chains.
Without doubt, his decision to maintain over 90% ownership of Raising Cane's became significant to his wealth accumulation. This allowed him to benefit almost exclusively from the company's explosive growth.
Raising Cane's started with just $876 in first-day sales back in 1996 and now generates billions annually through a brilliantly simple concept. The limited menu approach created extraordinary efficiency that resulted in per-store sales outpacing many industry giants. On top of that, simplified processes aided rapid expansion to nearly 900 locations. The company plans to reach 1,000 restaurants within two years.
Graves achieved this success while rejecting conventional wisdom, which makes it even more impressive. He didn't vary the menu or dilute his ownership through investors but stayed true to his original vision. So, his position at #293 on the Forbes Billionaires List represents not just financial achievement but validates his business philosophy.
Graves shows no signs of slowing down as he looks ahead. His ambitious goals for $10 billion in annual revenue and 1,600 global locations will likely push his net worth higher in coming years.
All the same, his steadfast dedication to community involvement suggests this experience surpasses mere wealth accumulation. The story of Todd Graves reminds us that sometimes the business plans experts reject might just contain billion-dollar potential.
FAQs
Q1. What is Todd Graves' current net worth?
Todd Graves' net worth is estimated at $17.2 billion as of 2025, nearly doubling from the previous year due to the rapid growth of his Raising Cane's restaurant chain.
Q2. How did Todd Graves start Raising Cane's?
Todd Graves started Raising Cane's in 1996 after his college business plan for a chicken finger restaurant received the lowest grade. He worked in oil refineries and Alaskan fishing boats to raise capital before opening his first location near LSU.
Q3. What makes Raising Cane's business model unique?
Raising Cane's success is built on a limited menu of just five items, which allows for high operational efficiency, faster service, and impressive per-store sales averaging $6.6 million annually.
Q4. How many Raising Cane's locations are there currently?
As of 2024, Raising Cane's operates nearly 900 restaurants across 42 states, with plans to reach 1,000 locations in the next two years.
Q5. What are Todd Graves' future plans for Raising Cane's?
Graves aims to make Raising Cane's a top 10 restaurant brand, targeting $10 billion in annual sales by the end of the decade, expanding to 1,600 restaurants globally, and increasing average unit volumes to $8 million.