What is Mike Repole’s net worth?
Mike Repole is an American businessman who has a net worth of $1 billion {dollars}. Mike has earned his fortune because the founder or co-founder of a number of firms, together with beverage firms Glaceau and BODYARMOR.
Early Life
Mike Repole was born in Queens, New York, on January 21, 1969. He was the primary particular person in his family to graduate from college. He graduated from St. John’s University with a level in Sports Management in 1991 with a 2.2 GPA. His first job out of college was as a salesman for a beverage firm referred to as Mistic Beverages. He ultimately moved over the Crystal Geyser the place he rose to be the Vice President of Sales.
Glaceau
In 1998, on the age of 29, Mike partnered with J. Darius Bikoff in co-founding an organization they referred to as Energy Brands, however was generally often known as Glaceau. Their first product was a water model they referred to as Smartwater. Introduced in 2000, Smartwater would ultimately be virtually single-handedly liable for the explosion of the improved water beverage class. They additionally launched Vitamin Water.
By 2007 the corporate was producing north of $1 billion in annual income. That similar yr, Coca-Cola purchased Glaceau for $4.1 billion. Repole and Bikoff had been all the time beneficiant in handing out inventory choices to staff. On the day of the Coca-Cola acquisition, roughly 400 of their staff obtained checks for a median of $500,000. Some early staff made far more. The rapper 50 Cent – an early endorser of Vitamin Water, famously took fairness over wage to seem within the firm’s commercials. 50 Cent’s exact Vitamin Water earnings should not identified, but it surely’s been estimated that he earned $150 – $200 million earlier than taxes, roughly $75 million – $100 million after taxes.
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Pirate’s Booty
In 2009 Mike used a portion of his windfall from the Coca-Cola sale to amass nearly all of snack firm Pirate’s Booty. In 2014 the model was purchased for $200 million.
But he nonetheless wasn’t completed!
BODYARMOR
Next, Mike co-founded the beverage firm BODYARMOR. In 2014 they introduced Kobe Bryant on as investor. Kobe reportedly purchased a ten% stake within the firm for $6 million. At that time the model was doing simply $10 million in annual income. In 2018 BODYARMOR did $400 million in income. That similar yr, Coca-Cola once more got here calling. This time Coke acquired a minority stake that valued the corporate at $2 billion. Kobe’s 10% stake went from being value $6 million to $200 million. In November 2021, Coca-Cola acquired a majority of BodyArmor at a valuation of $8 billion.
Today BODYARMOR is endorsed by athletes together with Mike Trout, Megan Rapinoe and Trae Young. Like he did at Glaceau, all endorsers and lots of staff have obtained fairness within the firm.
Other
Mike additionally owns a horse secure that has received north of $40 million in profession prize winnings. In 2020, Mike teamed up with Alex Rodriguez and Jennifer Lopez in an unsuccessful try to purchase the NY Mets, his favourite group.
All internet worths are calculated utilizing information drawn from public sources. When offered, we additionally incorporate personal suggestions and suggestions obtained from the celebrities or their representatives. While we work diligently to make sure that our numbers are as correct as attainable, except in any other case indicated they’re solely estimates. We welcome all corrections and suggestions utilizing the button beneath.
