Marijuana or pot according to Bloomberg is paying off as millionaires have moved to the billionaire level because of it. The business of marijuana has gone public with the shares booming.
In Africa, South Africa just legalized the use of weed by citizens privately saying any ban on it violates their human rights. A Presidential aspirant for 2019 elections in Nigeria Yele Sowore made a statement that Nigeria will start exporting marijuana if he becomes President. That of course, received reactions from various quarters.
Based on a Bloomberg report, the following are worth millions from marijuana.
Brendan Kennedy 46, Michael Blue and Christian Groh, Tilray Inc.
Stake Valuation: $7.2 billion with each of them having equal stakes of $2.4 billion.
These three partners founded Seattle-based Privateer Holdings Inc. in May 2010 and later invested in a Canadian pot firm Tilray Inc. They have known each other for many years with Kennedy and Blue graduates of Yale School of Management MBA program. Kennedy and Groh have worked at SVB Analytics an affiliate of Silicon Valley Bank.
Bruce Linton, Canopy Growth Corp.
Stake Valuation: C$184.9 million ($142.6 million)
He is the CEO of Canopy Growth Corp. The company is of the largest pot (marijuana) companies. It was created out of a former Hershey chocolate factory in Smith Falls, Ontario.
He is 52.
Terry Booth, Aurora Cannabis Inc.
Stake of Valuation: C$123.3 million ($95.1 million)
He used to deal Marijuana in high school, selling quarter-ounce bags for C$25 to his friends. The CEO of Aurora Cannabis Inc. and earlier this year he signed a major deal to takeover CanniMed Therapeutics for C$1.23 billion. He is 54 years old.
John Cervini, Aphria Inc.
Stake Valuation: C$186.7 million ($144.0 million)
He co-founded Leamington which is an Ontario-based Aphria after leaving his family’s greenhouse business that sold tomatoes and peppers. With this friend Cole Cacciavillani they considered marijuana as a possible crop without any experience growing the plant. Aphria was among the first public traded company that sell grows marijuana.
Others include; Victor Neufield, CEO of Aphria, C$37.1 million ($28.6 million); Jason Adler, Independent Director of Cronos Group Inc., C$115.9 million ($89.4 million); Michael Gorenstein, CEO of Crones Group Inc., C$28.3 million ($21.8 million).
Note: C$= Canadian Dollar
Credit: Bloomberg Business