The late Kobe Bryant's estate to receive around $400 million, following the sale of sports drink company Bodyarmor to Coca Cola
In the year 2014, Los Angeles Lakers superstar and Hall of Fame shooting guard Kobe Bryant invested $6 million in a sports drink company by the name of Bodyarmor. Today, it was announced that Coca-Cola has come to an agreement to acquire full ownership of the company for $5.6 billion. What's most fascinating about the entire deal between Bodyarmor and Coca-Cola is the fact that Bryant's initial $6 million investment will now be worth over $400 million after the sale. The profit will of course be received by Kobe's estate.
Over the course of his entire NBA career, it has been reported that Kobe Bryant went on to make an estimated $323 million as a player in the NBA. Bryant spent 20-years playing in the NBA, all of them with the historic Los Angeles Lakers. He was also a major figure off the court, with a number of sponsorships including notable companies such as Nike and Sprite. What's even more impressive about the recent deal between Bodyarmor and Coca-Cola is the return on investment that Bryant will receive. In one transaction, the Bryant estate is expected to return in more money than Kobe received over the course of his entire career on the NBA floor. Including indorsements, Forbes had reported that Bryant had gone on to make around $680 million during his time in the NBA.
Back in 2013, Kobe Bryant went on to invest his faith in the potential of the Bodyarmor company. After Coca-Cola bought a 15% stake in the company in 2018, they had become the second-largest shareholder. Bryant was right behind them, as he was the third-largest shareholder, just two years after its founding. In 2014 Bryant had announced his involvement with the company Bodyarmor. Forbes even went on to quote Kobe Bryant:
"The model has always been for entertainers to get sweat equity, but I wanted to progress beyond that."
With the latest deal, it's been reported that Bodyarm has surpassed Coke's Powerade to become the second-largest player in the sports drink category. Coca-Cola also announced that the sports drink brand's retail sales are expected to be up 50% this year.
Coca-Cola is buying full control of BodyArmor for $5.6 billion in a deal that values the sports drink brand at about $8 billion, according to people familiar with the matter on.wsj.com/3pORdVg
The Bodyarmor company has seen a number of notable professional athletes invest in the brand alongside Kobe Bryant. These individuals have included James Harden, Mike Trout, Rob Gronkowski, and Skylar Diggins-Smith. BodyArmor co-founder Mike Repole had some kind words when talking about the faith that Kobe Bryant specifically had invested in the company, stating that this day wouldn't have been possible if it wasn't for the Lakers superstar.
"If it wasn't for Kobe Bryant's vision and belief, BodyArmor would not have been able to achieve the success we had," Repole, who also developed Fuze Beverage and Smartwater, said in a statement.
This January will make it two years since the shocking death of Kobe Bryant, his daughter Gianna, and nine others who were killed in a hellicopter crash. The world continues to mourn that cloudy day, but the recent news has continued to shine some light that Bryant was always looking out to create the best possible future for his family.
Also Read: Who is Kobe Bryant’s wife, Vanessa Bryant?