Kobe Bryant has continued to remain a driving influence in the entertainment industry almost two years after his tragic death in a January 2020 aviation accident.
In addition to his achievements in basketball, the late Black Mamba will also live on thanks to his smart investments while still alive. One of those happened to be the sports drink Bodyarmor, which has now awarded Kobe’s estate a multimillion-dollar monster payday after Coca-Cola recently acquired full ownership of the company.
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According to The Wall Street Journal, Coca-Cola Co. brokered a $5.6 billion cash deal that values Bodyarmor at about $8 billion. Bryant acquired over 10% of the company after his initial $6 million investment back in 2014, ironically placing just behind Coca-Cola on the shareholders list; the beverage giant already bought a 15% stake back in 2018, and arranged a pre-acquisition filing with the Federal Trade Commission this past February for the remanding 85%.
While his career as a longtime Laker is clearly the base of his lucrative legacy, this deal actually topples his entire NBA earnings, with Sports Illustrated noting that Kobe made “just over $323 million” starting from his debut in 1996 until his epic retirement year in 2016.
More on how this deal is a gain for Coca-Cola despite the hefty price tag below, via CNBC:
“Owning Bodyarmor helps Coke gain market share in the sports drink category, although PepsiCo’s Gatorade is far and away the market leader with roughly 70% market share. By touting itself as a healthier sports drink, Bodyarmor has surpassed Coke’s Powerade to become the second-largest player in the category. According to Coke, the sports drink brand’s retail sales this year are expected to be more than $1.4 billion, up about 50% this year.”
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Given the recent drama his widow, Vanessa Bryant has been going through in court following insensitive procedures taken immediately after his death, we’re just glad his family will be earning a monetary win based off something positive.
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Estate Of Kobe Bryant Set To Make $400M From Coca-Cola’s Bodyarmor Buyout was originally published on blackamericaweb.com