Kobe Bryant has continued to remain a driving influence in the entertainment industry almost two years after his tragic death in a January 2020 helicopter 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.
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 more than 10 percent 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 percent stake back in 2018 and arranged a pre-acquisition filing with the Federal Trade Commission this past February for the remaining 85 percent.
That equals about $400 million for Kobe’s estate.
While his career as a longtime Los Angeles Lakers star 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.”
The development follows Kobe’s widow Vanessa Bryant having to testify in a deposition centered on her lawsuit against Los Angeles County for the sheriff’s deputies who took and shared photos of the helicopter crash site where the NBA legend, their 13-year-old daughter, Gianna Bryant, and seven other passengers died. Los Angeles County even filed a motion last month asking Vanessa Bryant to take a psychiatric exam so that a doctor can verify if she did indeed suffer “ongoing, severe emotional distress, anxiety and depression.”
Given all that recent negative drama his widow has been going through in court, we’re just glad Kobe Bryant’s family will be earning a monetary win based on something positive.
Kobe Bryant’s Shrewd Investment In Sports Drink Bodyarmor Will Pay His Family $400 Million was originally published on blackamericaweb.com