Mike Repol net worth
Number of divisions: 9
What is Mike Repole’s net worth?
Mike Repole is an American businessman with a net worth of US$1 billion. As the founder or co-founder of several companies, Mike has earned wealth, including beverage companies Glaceau and BODYARMOR.
early life
Mike Repole was born on January 21, 1969 in Queens, New York. He is the first person in his family to graduate from college. He graduated from St. John’s University in 1991 with a degree in sports management with a GPA of 2.2. His first job after graduating from college was as a salesperson in a beverage company called Mistic Beverages. He eventually moved to Crystal Geyser, where he was promoted to vice president of sales.
Grasso
In 1998, 29-year-old Mike co-founded a company called Energy Brands with J. Darius Bikoff, but it is often called Glaceau. Their first product was a water brand called Smartwater. Smartwater was launched in 2000, and eventually it almost single-handedly promoted the explosive growth of the enhanced water beverage category. They also introduced vitamin water.
By 2007, the company’s annual revenue had exceeded $1 billion. In the same year, Coca-Cola bought Glaceau for $4.1 billion. Repole and Bikoff always generously issue stock options to employees. On the day Coca-Cola was acquired, approximately 400 employees received checks for an average of $500,000. Some early employees earn more. The rapper 50 Cent is an early spokesperson for Vitamin Water. He is known for appearing in company advertisements through equity instead of salary. 50 Cent’s exact vitamin water income is unknown, but it is estimated that his income 150-200 million US dollars Before tax, roughly US$75 million-US$100 million After tax.
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Pirate’s Trophy
In 2009, Mike used part of his windfall from Coca-Cola sales to acquire a majority of the shares in snack food company Pirate’s Booty. In 2014, the brand was acquired for US$200 million.
But he is not done yet!
Body protector
Next, Mike co-founded the beverage company BODYARMOR. In 2014, they hired Kobe Bryant as an investor. According to reports, Kobe bought a 10% stake in the company for $6 million. At that time, the brand’s annual revenue was only 10 million U.S. dollars. In 2018, BODYARMOR achieved a revenue of 400 million U.S. dollars. In the same year, Coca-Cola called again. This time, Coca-Cola acquired a minority stake, and the company was valued at US$2 billion. The value of Kobe’s 10% stake has risen from US$6 million to US$200 million. In November 2021, Coca-Cola acquired a majority stake in BodyArmor at a valuation of US$8 billion.
Today, BODYARMOR has been recognized by athletes including Mike Trout, Megan Rapinoe and Trae Young. Just like what he did at Glaceau, all spokespersons and many employees have acquired equity in the company.
other
Mike also owns a stable, his career bonus has exceeded 40 million U.S. dollars. In 2020, Mike joined forces with Alex Rodriguez and Jennifer Lopez to try to acquire his favorite team, the New York Mets, but failed.
