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This CEO bought lottery tickets for all his 50,000 employees

The executives and employees of Raising Cane's, a US-based fast food joint, are trying their luck out as a team.

July 30, 2022 / 08:00 AM IST
Todd Graves, CEO of American fast food chain Raising Cane's. (Image credit: @ToddGraves/Twitter)

Todd Graves, CEO of American fast food chain Raising Cane's. (Image credit: @ToddGraves/Twitter)

The CEO of a fast food chain in the United States bought lottery tickets for all his employees earlier this week.

The company, Raising Cane's, has 50,000 employees across the US. Graves spent $100,000 buying a $2 lottery ticket for each of them.

The prize money for the jackpot was $830 million, that Graves said he intended to split equally with all his employees.

On July 26, he tweeted a video of the 50,000 tickets being printed.

"Buying 50,000 lottery tickets is harder than you think!," he wrote. "Hoping to share the winning jackpot with our 50,000."


Graves' co CEO AJ Kumaran told CNN that they wanted to help out their employees amid rising living costs.

"Times are tough out there," he he said. "(Employees are) seeing it at their gas stations and gas pumps, they're seeing it on their grocery shelves ... Things aren't exactly easy these days, so when we saw there is a chance to not only have a little fun, but maybe win a little bit extra money for our people, we wanted to do it."

Raising Cane's has been criticised for spending money on lottery tickets instead of giving it to their employees. But Kumaran said that would have led to a mere $2 increase in their salaries, Fortune magazine reported.

Meanwhile, Graves said the intention was to add a little more fun and joy to their employees' lives
 "None of what we do at Cane's would be possible without our crew, which is why we are always looking for ways to bring them a little extra fun, and if we're lucky, a surprise on Wednesday morning," he was quoted as saying by People magazine.

Raising Cane's did not hit jackpot but its CEOs intend to keep trying till they do.
Moneycontrol News
first published: Jul 30, 2022 07:58 am
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