Legendary basketball star and entrepreneur Kobe Bryant has made more than 30 times his investment in less than four-and-a-half years. The Black Mamba strikes again! This time, in business.
Less than four-and-a-half years ago, Bryant invested $6 million in a sports drink, BodyArmor. On Tuesday, Coca-Cola purchased a minority stake in the drink. Based on an assessment of that deal, Bryant’s stake is now worth approximately $200 million.
Kobe Bryant made $328 million during his 20-year NBA career. He'll likely make just as much, if not more, off his investment in BodyArmor. He continues winning post-retirement. https://t.co/W1l50Vtboo
— Arash Markazi (@ArashMarkazi) August 15, 2018
That is another win for Kobe this year. His first win was an Oscar for his short animated film “Dear Basketball.”
Kobe retired in 2016 with a record $680 million in career earnings, according to Frobes‘ Kurt Badenhausen.
Bryant is currently the fourth largest investor in the brand that markets itself as a healthier competitor to Gatorade — he only sits behind the brand’s co-founder Mike Repole, Keurig Dr Pepper and Coca-Cola. When he invested in BodyArmor in March 2014, the brand had just come off a year of $10 million in sales. In 2018, BodyArmor is projected to top $400 million.
As part of their endorsement deals, many athletes had equity stakes in BodyArmor. According to ESPN, many as a dozen superstar athletes could also have stakes in BodyArmor worth more than $1 million, including James Harden, Dustin Johnson and Andrew Luck.
Coca-Cola’s acquisition is the biggest story in the business of sports drinks since December 2000, when PepsiCo acquired Quaker Oats, which included Gatorade. The deal puts BodyArmor in Coke’s powerful distribution network, on their delivery trucks throughout most of the United States.
This is the second time Repole has sold a company to Coca-Cola. In 2007, Glaceau, a company he co-founded with the smartwater and vitaminwater brands, sold to Coke for $4.1 billion.