Many NBA players use the money they earn through the league to secure their financial future. For a lot of players, they’re able to earn a large amount of money. And rather than spend all of it on something material, they choose to invest their money in projects and businesses they think can be successful.
Most recently, Kobe Bryant’s investment in sports drink company BodyArmor paid dividends. In 2014, Bryant invested $6 million in the company for a 10% stake. Today, the company completed a deal with Coca-Cola to sell their company for $8 billion.
As a result, Bryant has seen his $6 million investment return $400 million over the course of 7 years. This money, which is apparently $90 million more than what Kobe earned during his time as an NBA player, will go to his family and will become theirs to use.
Darren Rovell shared the long story of how he formed a relationship with Kobe Bryant and the founder of BodyArmor, Mike Repole. He spoke about the journey the three of them had been on together as BodyArmor became more and more successful over the years.
JUST IN: @DrinkBODYARMOR announces sale to Coca-Cola at a valuation of $8 Billion.
Announcement released at 8:24 AM ET as a tribute to Kobe Bryant.
Bryant bought 10% of company in 2014 for $6M. After dilution, his family will receive about $400M. https://t.co/EqSaRoeVRG
— Darren Rovell (@darrenrovell) November 1, 2021
https://www.instagram.com/p/CVu7KLgr629
The news brings me an equal amount of joy and sadness.
It was through this brand that I developed lifelong relationships with founder Mike Repole and Kobe Bryant. Of course, we all were robbed of the Kobe part of that equation.
Thanks to a $6M investment in 2014 that bought 10 percent of the company, Kobe’s family will come away with around $400M, $90M more than he made on the court from his 20-year NBA career.
Repole and Kobe had briefly known each other from work with Vitaminwater, a brand Mike sold for $4.1 billion to Coke. But eight years ago, I reintroduced the two, after Kobe asked me to set him up with conversations with business titans.
You could tell being on that call with Mike and Kobe, the magic was there.
They were both hyper Type A personalities who didn’t sleep, who would crush anyone in their wake. They lived for competition and were driven in an special way that so few possess.
BodyArmor wasn’t a great drink when it started out and it also was against all odds. Aside from Coke’s Powerade, which took a small piece of market share, no upstart had successfully been able to go up against Gatorade.
Kobe loved Mike’s gameplan: Be the opposite of Gatorade. Build a modern drink, while bashing Gatorade as old and outdated.
As the company achieved more and more success, Kobe, Mike and I enjoyed it more. Once or twice a year, we’d get together in front of crowds — BodyArmor employees, Coke bottlers — and tell our story of how it all came together and of our prophecies for the future.
In September 2019, Mike, Kobe I performed for another night of fun surrounding the BodyArmor success story. We laughed, we ribbed each other and he gave me a hug on the way out. It was the last time I ever saw him.
The $8 billion price tag is incredible and it’s more than we all ever dreamed of and it’s I love that the timing of the release is meant to honor his jersey numbers.
But the story feels undeniably empty without Kobe looking directly into our eyes as he had the capacity to do, drinking rich Italian vino and puffing a cigar in our face.
Bryant isn’t the only player who uses his money to invest. In fact, Kevin Durant has found a lot of success as an investor, with companies like Postmates and Overtime becoming very lucrative after Durant’s initial cash supply.
Kobe’s smart investment allows his family to reap the rewards and furthers their financial security going forward. This sum will be a huge help for them, as his daughters try to find their calling in life, and pursue higher education of the best quality possible.
