*Kobe Bryant’s $6 million investment in BodyArmor turned into a $400 million windfall after Coca-Cola’s 2021 acquisition of the company for $5.6 billion.
Bryant purchased a 10 percent stake in Bodyarmor for $6 million in March of 2014, according to The Wall Street Journal. We reported in 2021 that Coca-Cola purchased the sports drink company and the late athlete’s estate reportedly made $400 million from the sale.
Bryant, who acquired a 10% stake in 2013, played an active role in BodyArmor’s growth by serving on its board and promoting the brand. His early support of the sports drink startup, which positioned itself as a healthier alternative to Gatorade, helped fuel its rapid success.
“If it wasn’t for Kobe Bryant’s vision and belief, BodyArmor would not have been able to achieve the success we had,” BodyArmor co-founder Mike Repole said previously in a statement.
Forbes reported in 2022 that NBA star James Harden, MLB’s Mike Trout, and WNBA star Skylar Diggins-Smith also endorsed the brand.
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Pasión Fútbol writes, “Investors can learn from this by looking for small-cap companies in growing industries, particularly in the consumer goods or health sectors, where innovation can lead to massive returns.”
Meanwhile, earlier this year, the Los Angeles Lakers unveiled a statue of Bryant wearing the No. 8 uniform at Crypto.com Arena on Thursday.
Bryan’s widow, Vanessa Bryant, said at the time that there would be two other statues, one with him wearing No. 24 and with daughter Gianna, who was killed with the Lakers star in a helicopter crash in 2020. The other two statues were not displayed at the ceremony in February.
“Because fans all over the world and the City of Angels loved Kobe so much, he will have three statues in front of the arena – also known as the house that Kobe built,” Vanessa said during the tribute.
“For the record, Kobe picked the pose you’re about to see,” she said. “So if anyone has any issues with it, tough (expletive). It is what it is.”
Five NBA championship trophies surround the base of the statue. It is engraved with “Kobe Bean Bryant” and his nickname, “Black Mamba.” A QR code is also included on the statue. The code directs smartphone users to a short film about Kobe’s career narrated by Denzel Washington, including the memorable 81-point game.
READ MORE FROM EURWEB.COM: Kobe Bryant’s Estate Bags $400 Million for Sale of BodyArmor to Coca-Cola
