Former NBA star Kobe Bryant’s investment in the sports beverage ‘BodyArmor’ has seen significant growth, with the recent acquisition of a stake by Coca-Cola boosting its market value, according to a report on Wednesday.Bryant’s initial purchase of a 10% stake valued at $6 million in the drink ‘BodyArmor’ back in 2014 has now skyrocketed to a remarkable $200 million, as reported by Darren Rovell of ESPN.
This investment adds to Bryant’s substantial wealth. The five-time NBA champion has earned over $323 million in career earnings from professional basketball, making him the second highest-paid athlete in sports history according to Spotrac.
The Wall Street Journal first reported Coca-Cola’s minority stake in ‘BodyArmor.’ The brand has positioned itself as a healthier alternative to competitors like ‘Gatorade’ through aggressive marketing strategies. With this deal, Coca-Cola becomes the second-largest stakeholder in ‘BodyArmor’ after company founder Mike Repole.
Bryant wrote, directed, and narrated the first television advertisement for ‘BodyArmor’ in 2017.
Speaking to Fox Business at the time, Bryant expressed his passion for storytelling and his active involvement in all his campaigns throughout his career. “As an investor in BodyArmor, this is the added value I bring to the brand. I can offer a creative perspective as an athlete to give the product an authentic and credible voice. As a storyteller, I find the most joy in identifying that unique selling point and delivering the message in a distinctive way,” he explained.
Bryant stands out as the sole athlete whose investment in ‘BodyArmor’ has yielded such significant returns. According to Repole, at least twelve other active athletes have entered into equity deals with the beverage company, as reported by FOX Business in 2016.
