Restaurateur Danny Meyer is worth well over $450 million these days thanks to a recent increase in Shake Shack's stock prices. According to Forbes, Meyer's burger chain has "nearly tripled in value" — aside from a brief dip in March — since going public in January. In the past week alone, Shake Shack's stock prices have shot up by 24 percent.
An analyst tells Forbes that "there's really no explanation," for the jump in price adding that "sometimes these stocks just kind of take on a life of their own." (Though, the jump coincidentally happened to take place at the same time as Eater's very own Burger Week.) The analyst continues, noting that because Shake Shack has such a "cult-like following," the stock will increase "based on nothing other than a little excitement." Shake Shack stock is now $61.27 per share and Danny Meyer's 20 percent stake is valued at $455 million.
Currently, Shake Shack has 60 outposts around the world including Moscow, London, and multiple cities across America. The chain plans to keep on growing that number: In February, Shake Shack announced that it is expanding to Tokyo in 2016 — like many other popular American restaurants — and plans to open nine more Japanese locations by 2020.