The NBA Star's Investment in BodyArmor is a Big Boost to His Already Bulging Bank Account
An intelligent investment has just landed NBA superstar Kobe Bryant a whopping $200 million…and counting.
Since 2014, Bryant has bought in to BodyArmor, a super-hydrating sports drink, and as the (now) fourth largest shareholder in the company, he has been drinking in some serious dough.
An initial investment of $6 million for 10% of the company has grown exponentially, now "reportedly worth $200 million," as reported by Slam. Why the sudden and significant upswing? He can thank Coca-Cola. As per ESPN, "On Tuesday, Coca-Cola announced it had purchased a minority stake in sports drink BodyArmor. Based on the valuation of the Coca-Cola deal, (Bryant's) stake is now worth approximately $200 million." Not to mention, "BodyArmor is projected to top $400 million in sales in 2018." Drink that up, Kobe.
As per MarketWatch, "Wells Fargo analyst Bonnie Herzog described BodyArmor as 'one of the most exciting and fastest-growing brands in the sports drink category,' and she believes the deal gives Coke the opportunity to innovate and accelerate growth across its portfolio." In turn, Bryant's wallet gets wider.
$200 million (or more) would be a dream come true for us "Average Janes and Joes," but for a super-rich star like Bryant, it's just another load of loot to add to his already fat fortune. According to ESPN, "Bryant earned $328 million on the court in his 20-year NBA career and a similar amount off the court over that time." He has also "formed a $100 million joint venture investment firm with entrepreneur Jeff Stibel and started his own production company, Granity Studios." The millions will only multiply, giving the 39-year old more money than he'll ever know what to do with. Although we're quite sure he will come up with something.
So, what's so interesting about BodyArmor? It is billed as a "healthier alternative to PepsiCo's Gatorade, making athletes and everyday folks alike take to swigging the stuff. It is the official sports drink of the UFC and the Spartan Race, and athletes including James Harden, Mike Trout, and Dustin Johnson endorse the product. Fun flavors like Blueberry Pomegranate, Orange Mango, Tropical Punch, and Strawberry Banana make drinking delightful, and they've got "lyte" varieties too as well as a SportWater, chock full of energizing electrolytes and other goodies designed for peak performance.
Once again, Bryant is winning, be it on or off the court. The folks at Gatorade may be thirsty for some attention, but for the moment, the team at BodyArmor is raising a glass to swift success.
Drink up America…there are millions at stake.
Melissa A. Kay is a New York-based writer, editor, and content strategist. Follow her work on Popdust as well as sites including TopDust, Chase Bank, P&G, Understood.org, The Richest, GearBrain, The Journiest, Bella, TrueSelf, Better Homes & Gardens, AMC Daycare, and more.
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