Cheesecake Factory's Record Stock Run Builds Founder's $300 Million Fortune
The Cheesecake Factory's stock hit an all-time high on Wednesday after reporting better-than-expected quarterly earnings, with revenue exceeding $1 billion for the first time and net income rising to $68.4 million. Shares surged 12% to nearly $101, boosting founder and CEO David Overton's fortune above $300 million. The stock has nearly doubled in value this year, growing about 91%, and the company's market capitalization has swelled to nearly $5 billion. Overton reaffirmed plans to open 26 new locations in fiscal 2026. Unlike many casual dining chains, Cheesecake Factory has reported steady traffic growth, outperforming the broader industry. The company, which began as a bakery in 1972, now operates 375 locations across the U.S. and Canada and has expanded through acquisitions including Fox Restaurant Concepts.
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