04-24-2026SUBSCRIBER EXCLUSIVE

Steak ’n Shake, Cracker Barrel, and the most feared man in fast food

The Cracker Barrel logo controversy? The beef tallow obsession? You can thank Steak ’n Shake owner, activist investor, and MAHA cheerleader Sardar Biglari. Here’s how the CEO keeps riling his competitors—and winning.

[Photos: © San Antonio Express-News/ZUMA Press, Inc./Alamy (Biglari), Erik Mclean/Unsplash, Boston Public Library/Flickr, Steak ’n Shake, Kristina Blokhin/Adobe Stock]

Last August, as the internet piled on Cracker Barrel over its new “modern” logo, something even stranger was unfolding at Steak ’n Shake.

For one week, the chain’s X account didn’t try to sell a single burger. Instead, it attacked Cracker Barrel’s “destruction of shareholder value,” alongside other financial grievances. It sold $20 red MAGA-style hats bearing the words “Fire Cracker Barrel CEO,” and drew attention to a billboard near Cracker Barrel’s Nashville headquarters that Steak ’n Shake had secured, repeating the line.

Days later, Cracker Barrel admitted defeat. The logo reverted. The internet moved on.

Steak ’n Shake did not. The account remained fixated for months—into 2026—hammering Cracker Barrel’s shrinking portion sizes, falling foot........

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