Raising Cane’s almost failed after Katrinanow its CEO is a billionaire [Video]

This story is part of CNBC Make It’s The Moment series, where highly successful people reveal the critical moment that changed the trajectory of their lives and careers, discussing what drove them to make the leap into the unknown.

Todd Graves knows how lucky he is to still have a business at all.

His chicken finger restaurant chain Raising Cane’s brought in $3.7 billion in net sales last year, contributing significantly to his estimated net worth of $9.5 billion. But nearly two decades ago, Hurricane Katrina almost wiped away the entire company — a position Graves was only in due to his own self-proclaimed “stupid financial strategy,” he tells CNBC Make It.

Graves, now 52, co-founded the first Raising Cane’s location near LSU in 1996. By 2005, the chain had 28 locations across Graves’ home state of Louisiana, bringing in an annual revenue of $54 million, according to a company spokesperson.

To achieve that growth, Graves racked up debt. He …