From Oil Refineries to Billion-Dollar Success: How a 52-Year-Old Built His Fortune
When Todd Graves and his college friend, Craig Silvey, pitched their idea for a restaurant selling only chicken fingers, it was met with skepticism—and a failing grade. Undeterred, Graves worked grueling 90-hour weeks at an oil refinery and fished for salmon in Alaska to save enough to fund his dream. Today, that single-concept idea has grown into Raising Cane’s, a fast-food empire with more than 800 locations worldwide and over $3.7 billion in annual sales.
Graves, now 52, recently made his debut on the Forbes 400 list as the 107th richest American, with an estimated net worth of $9.5 billion. His journey from labor-intensive jobs to the heights of entrepreneurship is a testament to resilience and a relentless drive to succeed, even when the odds seemed stacked against him.
“If people tell you something can’t be done, it makes you strive so much more to do it,” Graves told students at Nicholls State University.
Despite setbacks, including a near-catastrophe when Hurricane Katrina forced 21 of his 28 locations to shut down, Graves' commitment to retaining ownership allowed him to steer the business through rough times. Unlike many founders who sell equity stakes to expand, he relied primarily on high-interest loans to keep control of his company. That decision, which he now calls “stupid,” nearly cost him everything—but also preserved his stake in Raising Cane’s and positioned him to reap the rewards.
With plans to maintain Raising Cane’s as a family-owned business, Graves has no intention of going public. He hopes his children will eventually take the reins, guiding the company into the future while preserving the brand’s unique values and culture.
As Graves himself says, “The vision of Raising Cane’s is to someday have locations all over the world... but you have to stay disciplined. Grow too fast, and you risk losing what makes you special.”