Table: Mike Repole’s Profile
| Category | Information |
|---|---|
| Net Worth | $1 billion dollars |
| Salary | N/A |
| Birthdate | January 21, 1969 |
| Birthplace | Queens, New York |
| Gender | Male |
| Height | N/A |
| Profession | American businessman |
| Nationality | American |
What is Mike Repole’s Net Worth?
Mike Repole, an American businessman, has a net worth of $1 billion dollars. He has amassed his fortune through being the founder or co-founder of several successful companies, particularly in the beverage industry, including Glaceau and BODYARMOR.
Highlights
– Mike Repole’s net worth is $1 billion dollars.
– He is known as the founder or co-founder of Glaceau and BODYARMOR.
Early Life
Mike Repole was born on January 21, 1969, in Queens, New York. He was the first person in his family to graduate from college, earning a degree in Sports Management from St. John’s University in 1991. Despite a modest GPA of 2.2, Repole found his first job as a salesman for a beverage company called Mistic Beverages. He later became the Vice President of Sales at Crystal Geyser.
Career
Glaceau: In 1998, at the age of 29, Mike Repole partnered with J. Darius Bikoff to co-found Energy Brands, popularly known as Glaceau. Their first successful product was Smartwater, a brand of enhanced water that propelled the growth of the entire category. They also introduced Vitamin Water. In 2007, the Coca-Cola Company acquired Glaceau for $4.1 billion, providing substantial financial gains for Repole and Bikoff as well as their employees.
Pirate’s Booty: Taking advantage of his windfall from the Coca-Cola sale, Repole acquired a majority stake in the snack company Pirate’s Booty in 2009. In 2014, the brand was bought for $200 million.
BODYARMOR: Repole then co-founded the beverage company BODYARMOR. In 2014, basketball legend Kobe Bryant became an investor by purchasing a 10% stake in the company for $6 million. The brand’s revenue grew significantly, reaching $400 million by 2018. Coca-Cola once again recognized the potential and acquired a minority stake, valuing the company at $2 billion. In November 2021, Coca-Cola acquired a majority of BODYARMOR at a valuation of $8 billion.
– Today, BODYARMOR is endorsed by several high-profile athletes, including Mike Trout, Megan Rapinoe, and Trae Young.
Personal Life
Outside of his business ventures, Mike Repole owns a horse stable that has won over $40 million in career prize winnings. He also made headlines in 2020 when he teamed up with Alex Rodriguez and Jennifer Lopez in an attempt to buy the New York Mets, his favorite baseball team.
Net Worth Over Time
Mike Repole’s net worth has experienced significant growth throughout his career. As the co-founder of Glaceau, the acquisition by Coca-Cola in 2007 propelled his wealth. His subsequent ventures, including the purchase of Pirate’s Booty and the establishment of BODYARMOR, further contributed to his net worth. His majority ownership in BODYARMOR played a major role in the latest valuation of $8 billion after Coca-Cola’s majority stake acquisition in 2021.
Components of Net Worth
Mike Repole’s net worth primarily consists of the following:
– Proceeds from the sale of Glaceau to Coca-Cola for $4.1 billion.
– Acquisition of Pirate’s Booty for $200 million.
– Majority ownership and valuation of BODYARMOR at $8 billion after the latest acquisition by Coca-Cola.
– Additional investments and business ventures in the beverage industry.
Conclusion
Mike Repole, with a net worth of $1 billion, has achieved remarkable success as an American businessman. His contributions to the beverage industry, particularly his involvement in Glaceau and the subsequent co-founding of BODYARMOR, have significantly boosted his wealth. Repole’s story showcases the potential for entrepreneurial success and the power of making strategic business decisions in lucrative industries.
Note: All net worth figures are based on publicly available information and estimates.