The Weed "Rich List"
Huge industry growth has meant substantial profits for some.
A recent report has revealed that cannabis is now the fifth most valuable crop in the United States. This exceptional growth in the cannabis industry has allowed investors and business people to make substantial profits.
Some entrepreneurs have taken advantage of this situation and have become some of the wealthiest people in legal cannabis.
Bruce Linton, founder and chairman of Collective Growth Corporation.
An influential investor in cannabis and psychedelics, Linton has a reported net worth of $80 million. Best known as the founder and CEO of Canopy Growth Corporation until July 2019. Earlier this year, Linton launched Collective Growth, a special-purpose acquisition company that aims to exploit the potential of hemp.
Snoop Dogg, co-founder Casa Verde Capital
Snoop Dogg is globally known for his music but has recently invested in new cannabis business ventures. Snoop co-founded Casa Verde Capital. They are an investment fund with a portfolio of over $200 million value. Snoop's net worth is around $150 million.
Andrew Modlin, co-founder of MedMen.
Modlin is a co-founder of MedMen, which has more than 25 retail stores and six cultivation facilities. According to Celebrity Net Worth, Modlin's net worth is around $50 million.
Terry Booth, co-founder of Aurora Cannabis
Booth co-founded Aurora Cannabis in 2013, later acquired CanniMed Therapeutics for more than CAD 1 billion. This merger resulted in Aurora becoming one of the largest cannabis companies in the world. At one point, Booth held a stake worth more than $90 million in Aurora.
John Cervini, founder of Aphria
The Cervini family owned a greenhouse business and grew peppers and tomatoes. Still, John Cervini wisely saw an opportunity in growing cannabis. Cervini is the founder of Aphria, a Canada-based cannabis company. At one point, Cervini held a stake worth more than $100 million in Aphria.
Irwin Simon, CEO of Tilray
Simon is the CEO of Tilray, one of the largest cannabis companies in the world. Estimations believe him to have a net worth of approximately $50 million. Simon pulls in a substantial annual salary of more than $10 million.
Nicholas Kovacevich, founder of KushCo
Kovacevich founded KushCo in 2010 before any US state had legalised cannabis at any level in the United States. KushCo focuses on producing packaging for cannabis, oils, edibles and more. Kovacevich earns nearly $1 million a year; his estimated net worth is around $15 million.
Seth Rogen, actor and founder of Houseplant
Rogen, famous for comedy movies such as Superbad and Neighbors, recently ventured into cannabis with his company, Houseplant. While most of his millions did not come from the cannabis industry, Rogen's estimated $80 million still gets him on the list of the wealthiest people in cannabis.
Brendan Kennedy
Kennedy is the co-founder of Privateer Holdings and former CEO of Tilray. According to Bloomberg, when Tilray's stock was at an all-time-high, Kennedy's net worth was more than $2 billion. After the stock crashed, his net worth dropped to around $200 million. In 2019, Kennedy earned more than $3 million from Tilray.
L
Liz Filmer
