Raising Cane’s Founder Todd Graves Now Louisiana’s Richest Person
In a shift in the landscape of Louisiana wealth, Todd Graves, the founder of the popular fast-food chain Raising Cane's, has now been named the richest person in the state, surpassing the previous titleholder, Saints and Pelicans owner Gayle Benson. This news comes from reports by WDSU, NOLA.com, and Axios, highlighting Graves's remarkable journey to a staggering net worth of $7.6 billion.
Graves, a Baton Rouge resident, has not only topped Louisiana's wealth charts but has also made it to the prestigious list of the World's 500 Richest People, as per Bloomberg's Billionaire Index. This places him as the 307th richest person globally, a testament to his business acumen and the exponential growth of Raising Cane's.
The journey of Raising Cane's, from its first location on the Louisiana State University campus in 1996 to now boasting over 750 outlets, is a story of relentless expansion and strategic brand positioning. The brand has a significant presence in 37 states across the United States and has also ventured into international markets, with outlets in four Middle Eastern countries. Notably, Texas has emerged as the chain's largest market, showcasing the brand's appeal beyond its home state.
According to Bloomberg, Graves's net worth has seen an increase of $52.5 million this year alone. This financial surge is attributed to the global expansion of Raising Cane's and various celebrity partnerships that have bolstered the brand's visibility and appeal.
See more here here via WDSU.
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