Raising Cane's founder Todd Graves stepped into Shark Tank as the newest guest investor for season 16 episode 2, aired October 25, 2024, at 7 p.m. on ABC. The fast-food mogul brings his restaurant expertise to evaluate four business pitches alongside the regular Shark panel.
The episode marked a significant addition to the Shark Tank season 16 guest roster, which includes IT Cosmetics co-founder Jamie Kern Lima, venture capitalist Rashaun Williams, and lifestyle brand creator Kendra Scott.
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The restaurant magnate currently oversees a global operation with more than 830 locations, generating $3.7 billion in net sales last year. Viewers can catch the complete episode on ABC's primary network or stream it on Hulu the following day.
Raising Cane's Todd Graves makes Shark Tank debut in season 16 episode 2
Todd Graves arrives in Shark Tank Season 16 with substantial business credentials in the food industry. His current role as co-CEO of Raising Cane's places him at the helm of a rapidly expanding restaurant chain. The company reached a significant milestone in 2024 with its first billion-dollar quarter.
Financial projections indicate the company will close in 2024 with nearly $5 billion in sales. The restaurant chain maintains locations across the United States and Middle East markets, with continued expansion plans under Graves' leadership.
Graves' business acumen has garnered recognition from major financial institutions, with Bloomberg estimating his current net worth at $9.5 billion, ranking him as Louisiana's wealthiest resident.
Building Raising Cane's empire
Graves established the first Raising Cane's in 1996 near Louisiana State University's campus in Baton Rouge. The startup phase required innovative funding methods, leading Graves to work 90-hour weeks at a California oil refinery. He supplemented this income by commercial fishing for salmon in Alaska. Through these efforts, he invested $40,000-$50,000 of personal funds into the venture.
Additional funding came through $100,000 from Small Business Administration loans and private supporters. The early days saw Graves working extended hours, managing operations from 8 a.m. until 3:30 a.m. the following morning, seven days a week. His hands-on approach extended through every aspect of restaurant operations, from cooking to serving customers.
The initial business plan faced rejection in his college business class and multiple bank loan denials. By 2005, the company had grown to 28 locations in the Baton Rouge area, though Hurricane Katrina temporarily shuttered 21 restaurants.
Shark Tank Season 16 guest shark maintained company ownership through strategic loan structuring, offering private investors 15% interest rates while using these loans to secure additional funding from community banks.
Financial growth
Graves' financial trajectory places him at number 107 on the Forbes 400 list of America's wealthiest individuals. His company ownership exceeds 90%, with headquarters maintained in Baton Rouge. The business strategy focuses on controlled expansion while maintaining private ownership.
Graves maintains his stance against taking the company public or selling stakes to private investors. The financial structure stems from his early approach of leveraging loans rather than equity investments, a strategy that proved challenging during Hurricane Katrina but ultimately preserved his controlling interest in the company.
Shark Tank Season 16 guest shark lineup
The Shark Tank Season 16 continues with additional guest investors bringing diverse industry perspectives. Jamie Kern Lima, co-founder of IT Cosmetics and current host of The Jamie Kern Lima Show, adds beauty industry expertise to future episodes.
Venture capitalist Rashaun Williams brings financial experience as an Atlanta Falcons limited partner and financial literacy activist. The guest roster includes Kendra Scott, who built a global lifestyle brand under her name.
These additions maintain the show's format of introducing successful business leaders as guest investors. Each brings specific industry knowledge to evaluate new business opportunities. The varied backgrounds ensure diverse perspectives in investment decisions throughout Shark Tank Season 16.
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