Kobe Bryant’s wife Vanessa inherits $200million BodyArmor stake NBA legend bought for just $5m seven years ago – The Sun
KOBE Bryant's wife Vanessa has inherited a $200million stake in sports drink Bodyarmor bought by the late NBA star for $5million just seven years ago.
At the time of Bryant's death, he was the fourth-largest shareholder in the company, which is set to surpass $1billion in retail revenue for the first time this year.
Bryant first invested in Bodyarmor in March 2013, parting with $5million to gain a 10 percent stake.
The company has been cofounded two years earlier by Smartwater founder Mike Repole and Fuze Beverage founder Lance Collins, and was aiming to make inroads in a market dominated by Gatorade.
Bryant became an important brand ambassador, taking a seat on the company's board of directors and overseeing its advertising campaigns.
In 2018, the Coca Cola company purchased a minority stake in Bodyarmor in a deal that valued the company at $2billion, making Bryant's share worth at least $200million.
Following the death of Bryant, one of his daughters, and seven others in a helicopter crash in January, widow Vanessa Bryant inherited his stake and assumed his seat on the board of directors.
Speaking about Bryant's death, business partner Repole said: “I lost a dear friend.
"I lost a brother with Kobe and BodyArmor lost a founding father.
“Kobe Bryant’s fingerprints are all over the BodyArmor brand.
"The brand wouldn’t be in the position it’s in if Kobe wasn’t a believer back in 2012 and 2013.
“For me, this has always been a journey, the last seven or eight years, with Kobe, and now I feel like this is a journey for Kobe."
Aside from Bodyarmor, Bryant had a variety of business interests, and prior to his death was one of just seven athletes to be worth one billion dollars or more.
He amassed his wealth through endorsement deals, media projects, and venture capital firm Bryant Stibel.
Bryant Stibel was only founded in 2013, but currently manages over $2billion in assets.
The company's success followed investments in burgeoning startups including Alibaba, The Honest Company, and Epic Games.
It is Epic Games that has proved to be the most lucrative, delivering a fortune for the firm following the release of hit shooter game Fortnite.
Bryant's net worth at the time of his death is estimated to have been at least $600million.
Source: Read Full Article