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Shark Tank season 16 guest shark Todd Graves is the founder of Raising Cane's which is one of the fastest-growing fast-food chains. As of 2024, Todd has made up to $3.7 billion in sales through the 800 branch locations within 40 states in the US. According to Forbes, Todd's net worth is $9.5B as of November 2024, he is also on the 2024 Forbes List of Richest Billionaire in Every State, being the richest person in Louisiana.
Todd started his business back in 1996 and soon flourished up until 2005 when the company was generating revenue of $54 million through 28 locations. However, when Hurricane Katrina hit, he suffered a loss in Raising Cane's revenue and sales. Fast forward to 2024, Graves is a guest shark on Shark Tank, set to appear again in the upcoming episode 4 of season 16.
Shark Tank season 16 episode 4 is set to release exclusively on ABC on November 8, 2024. The episode synopsis reads as the following:
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"A new plant-based seafood; an intelligent chamber that grows mushrooms; unconventional mens swimwear; convertible clothing designed to fit one's lifestyle."
Shark Tank guest shark Todd Graves' net worth is $9.5B as of 2024
While sharing the reason behind his success, Todd shared taking a risk was important. During his conversation with CNBC Make It on October 30, 2024, the Shark Tank guest shark talked about his financial struggles. He talked about the impact of Hurricane Katrina on his fast food chain sales, and how he didn't want to give up equity. Graves explained:
"I could’ve gone back and offered equity, but I didn’t want to say, “Hey, I screwed up with your money” — even though they knew, [because] I showed them everything. And I just did not want to [give up] equity. The reason why I own so much of my company, versus some other people, is: I was very risk tolerant. Risk did not bother me at all."
He also talked about how having a positive mindset is important in a crisis situation. Graves stated that he was transparent about his business and accepted the problems they were facing, he was also "careful" about selling equity. The Shark Tank guest shark said:
"If you believe in your business, be very careful selling equity. You’re going to work just as hard [as you would if you’d retained full ownership]. When you hit adversity, you have to believe you will get through it. That’s the most important part. Then, you have to plan. [Lay out] the big challenges in front of you — we like a whiteboard — and be completely transparent about the situation you’re in."
According to a July 11, 2024 article by celebritynetworth.com Todd has set up a real estate record in Nashville. He has bought a $15 million penthouse apartment located in the Four Seasons Hotel & Residence. The penthouse consists of three bedrooms and three and a half bathrooms which is spread across the 4,000 square feet property.
Stream the new episodes of Shark Tank season 16 exclusively on ABC every week on Fridays at 8/7c. After the upcoming episode 4, the next episode 5 will be released on November 15, 2024 on ABC. Fans can also follow Todd Graves on his official Instagram account.
