Kobe Bryant’s $6M Bet on BodyArmor Netted His Estate $400M After Coca-Cola Deal
Kobe Bryant, known for his illustrious basketball career, also made a significant mark in the business world. In 2014, he invested $6 million in BodyArmor, a sports drink brand founded in 2011 by Mike Repole and Lance Collins. His investment gave him around 10% ownership, and he later joined the company's board of directors. Bryant even co-directed a BodyArmor ad campaign in 2018, showcasing his deep involvement with the brand.
Bryant's early bet paid off handsomely. When Coca-Cola acquired the remaining 85% of BodyArmor in 2021 for $5.6 billion, his estate reportedly received $400 million. This deal came just a year after Bryant's tragic death in 2020. The acquisition was a testament to BodyArmor's rapid growth, which had reached over $1.4 billion in retail sales annually, growing at a rate of approximately 50%.
The success of BodyArmor can be attributed to several factors, including Bryant's vision and belief in the brand. Coca-Cola had initially acquired a 15% stake in 2018, which helped accelerate BodyArmor's growth through access to Coca-Cola's distribution system. By the time of the full acquisition, BodyArmor had become the second-largest sports drink in measured retail channels, trailing only Gatorade from PepsiCo.
While the $400 million figure for Bryant's estate is reported by The Wall Street Journal, it is not officially confirmed by Coca-Cola or BodyArmor. ESPN had previously reported that Bryant's stake was worth about $200 million following the 2018 deal, representing a return of over 30 times his original investment. If the $400 million figure is accurate, it would mean a 67-fold return on his initial $6 million investment.
Bryant's involvement went beyond a typical endorsement deal. He not only invested money but also took an active role in the company, differentiating himself from traditional endorsers who are usually paid upfront. His investment highlights the potential benefits of ownership, where success is directly tied to the brand's performance.