Kobe Bryant is a big fan of his own self-promotion. When he retired from basketball, the former NBA player and renowned marketing genius began taking part in various businesses that also involved him being on camera. In one example, Kobe started selling autographs for $3 apiece to fans who wanted them as souvenirs or mementos from their favorite athlete.
Kobe Bryant is a retired professional basketball player who has been in the league for 20 years. He is also an entrepreneur and businessman. His recent move to sell his NBA jersey’s on eBay for $99,000 made him $400 million richer overnight. Read more in detail here: where was kobe bryant born.
Throughout his NBA career and into retirement, Kobe Bryant always knew how to provide for his family, and he’s still doing so almost two years after his untimely death.
Bryant spent $6 million in BodyArmor in 2014 for a 10% share in the sports drink company. For six years, the Hall of Famer was a member of BodyArmor’s board of directors, helping to set the company’s creative path, and that wise financial choice just made Bryant’s family $400 million wealthier overnight.
In 2014, Kobe Bryant invested $6 million in BodyArmor.
Bryant aspired to be the greatest in everything he did, and this attitude extended well beyond basketball. By the conclusion of his NBA career, the Los Angeles Lakers star had developed a love for business investment and increasing his own wealth.
Bryant formed his own firm, Kobe Inc., in 2014, as his playing days were coming to an end. His company’s mission was to assist him in forming his own enterprises and to begin investing in others. Bryant’s first investment as the CEO of Kobe Inc. was $6 million for a 10% interest in BodyArmor, a healthier alternative to Gatorade with aspirations to become the world’s most popular sports drink.
No, I’m serious. Do you believe Kobe would have accepted anything less?
In 2018, Bryant told CNBC, “By 2025, we aim to be the No. 1 sports drink.” “That means we have to roll up our sleeves and get to work.” We have to make sure that the market — that other athletes are aware that there is a better-for-you choice available.”
That’s precisely what Bryant did, as other high-profile sportsmen like James Harden, Christian McCaffrey, Naomi Osaka, and Mookie Betts have lately joined the BodyArmor investment train. And we got a sense of how much the firm has expanded this week.
Bryant’s economic acumen has recently added $400 million to his family’s fortune.
According to @WSJ, Coca-Cola has agreed to purchase full ownership of BodyArmor for $5.6 billion, valuing the sports drink brand at $8 billion.
In 2014, Kobe Bryant made a $6 million investment.
Is it now worth it? His family inherited almost $400 million. pic.twitter.com/dvI8Yl6OKD
November 1, 2021 — Front Office Sports (@FOS)
BodyArmor went from a little-known sports drink to a national brand in only a few years after Bryant joined the board and served as creative director for the firm. BodyArmor was valued at $2 billion in 2018 when Coca-Cola Co. purchased a 15% share in the firm for $300 million.
However, that value has more than quadrupled in the last three years.
Coca-Cola bought full ownership of BodyArmor on Monday for $5.6 billion, valuing the firm at $8 billion.
According to the Wall Street Journal, Bryant’s estate, which now owns the 10% interest he acquired in 2014, expects to receive around $400 million as a result of the higher value.
It is reasonable to assume that the $6 million investment paid off handsomely.
More money than Kobe Bryant ever earned in his NBA career
During a Los Angeles Lakers game, Kobe Bryant sits courtside with his family | Kevork Djansezian/Getty Images
Bryant was one of the wealthiest athletes in history. According to Spotrac, he earned $323 million in on-court wages alone throughout his NBA career, making him the fourth-richest player in league history.
Kobe spent 20 years playing his favorite sport to earn that much money, but his first large investment made his family $400 million wealthier in only one day.
Legendary.
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