NBA legend Kobe Bryant is now $194 million richer thanks to a $6 million investment he made in 2013 for equity in sports beverage company BodyArmor.
Bryant’s investment in BodyArmor in 2013 saw him emerge as the third largest shareholder and a member of the board of directors in the company. The brand enjoyed the imprimatur of having Bryant become a face of its marketing campaigns coupled with its core development that focused on an appeal at healthier lifestyles. This led to sales doubling every year, attracting the interest of industry giant Coca-Cola (KO), which bought into BodyArmor on Tuesday.
— Darren Rovell (@darrenrovell) August 15, 2018
On the backdrop of Coca-Cola’s latest investment in BodyArmor, Bryant’s equity acquired in 2013 is now valued at $200 million – marking 188.3 percent growth in his share of the company.
BodyArmor’s new deal with Coca-Cola will enable it leverage on the latter’s bottling system and distribution network to further expand its share of the $8 billion sports drink market where PepsiCo (PEP) controls 75 percent share.