In SummaryThe estate for Kobe Bryant nets $400 million from a deal where Coca-Cola buys full control of BodyArmor.
The estate for Kobe Bryant is set to receive $400 million from a deal where Coca-Cola buys full control of the BodyArmor sports drink company.
According to a report in Sports Illustrated, Bryant invested $6 million in the company in 2014, making him a major stakeholder early in the company’s creation. Coke bought 15% stake in the company back in 2018, then earned an additional 15% equity stake after taking control of distribution for BodyArmor.
On November first, Coca-Cola released a statement about the $5.6 billion purchase showing appreciation to Bryant’s contribution through his vision and belief in the brand. Founder of BodyArmor Mike Repole added on his praise in the announcement.
“Our talented leadership team under Brent Hastie, our 400 dedicated employees and incredible Coca-Cola bottling partners have helped us build this remarkable brand. If it wasn’t for Kobe Bryant’s vision and belief, BODYARMOR would not have been able to achieve the success we had,” Repole said.
The announcement was released at exactly 8:24 a.m. to honor the NBA legend’s two jerseys.
The NBA star died in a tragic helicopter crash along with daughter Gianna and seven other people in January 2020. Bryant was the third largest stakeholder with the company.