cannabis entrepreneurs
Did you know that cannabis is reportedly the fifth most valuable crop in the United States?
With its tremendous growth, this lucrative industry has attracted people from all walks of life including artists, actors, investors, and business-minded individuals all seeking to reap some profits from this space.
In this list, we give you 10 of the richest cannabis entrepreneurs in existence today.
Check them out.
Related: What Is the Best CBD for Small Dogs?
Boris Jordan
$1.1 billion
Image Credits Flikr
Famously known as the king of cannabis, Boris Jordan boasts an enviable net worth of $1.1 billion.
Forbes identified Jordan as the first billionaire to get his fortunes from the pot industry after having built the largest producer of medical marijuana in the US. The owner of Renaissance Insurance is also the Chairman of Curaleaf with a 31% stake in it.
Cureleaf is an American Marijuana producer and a leading global supplier of cannabis consumer products that aims to enhance lives by eradicating confusion surrounding the use of cannabis and boosting confidence in its use. The company owns and runs 48 medical cannabis dispensaries across 12 states.
Brendan Kennedy
$200 million
Image Credits Wiki Commons
With a reported net worth of around $200 million, Kennedy is the former CEO of Tilray, a global leader in the medical cannabis industry.
Being the first GMP-certified medical cannabis producer to supply cannabis products to patients, researchers, pharmacies, medical bodies, and government bodies, Tilray has earned itself a place as being among the pioneers in cannabis cultivation, research, processing, and distribution.
Bloomberg reported that Kennedy’s net worth was $2 billion during the peak of Tilray’s stock price. Unfortunately, the stock market sank, reducing his net worth to $200 million. He is also reported to have earned a salary of more than $3 million from this Canadian-based cannabis company in 2019.
Kennedy, together with Michael Blue and Christian Gror, founded Privateer Holdings in 2011. This is the first-ever private equity firm that focuses on exclusive investments in legal cannabis. Privateer is committed to building a portfolio of brands that will lead, legitimize, and redefine the future of cannabis all over the world.
Snoop Dogg
$150 million
Image Credits Wiki Commons
Renowned for his gangsta rap music in the 1990s, Snoop Dogg is an American rapper and songwriter. Besides his successful music career, the hip-hop star has also made a name for himself in the cannabis entrepreneurs by investing some of his earnings from record sales in the pot business.
Snoop Dogg is also an investor and a proud co-founder of a venture capital firm called Casa Verde which is worth over $200 million. The musician has supported various cannabis start-ups including OCT and Leaf through this investment fund. Reporting a net worth of $150 million, Snoop Dogg has upped his cannabis game significantly.
John Cervini
$100 million
Image Credits LinkedIn
Posting a net worth of a massive $100 million, John Cervini is a renowned actor and an investor in the cannabis industry. Coming from a family that owned a greenhouse and grew vegetables like tomatoes and peppers, Cervini decided to take a different route and began growing cannabis to tap into the growing industry.
Cervini is also the founder of Aphria, a renowned Canadian cannabis company that produces, supplies, and sells medicinal and recreational cannabis. The company is licensed to produce and sell medical cannabis including dried cannabis and cannabis oil. John Cervini is reported to have had a stake of more than $100 million in Aphria.
Terry Booth
$90 Million
Terry Booth is a co-founder of Aurora, a leading cannabis company that was founded in 2013. Terry was able to raise Aurora from its infancy into one of the biggest cannabis companies with a market cap of over $ 16 billion making him an iconic figure in the regulated cannabis space. Later, the company acquired CanniMed Therapeutics for over CAD 1 billion. This move made Aurora one of the forces to reckon with in the cannabis space.
Aurora aims to make lives better by making it as easy as possible to access medical cannabis and providing safe, affordable, and high-quality products for patients all over the world. At some point, Terry Booth reportedly had a stake of more than $90 million in Aurora Cannabis.
Bruce Linton
$80 million
Bruce is an industrialist and a well-known investor in the cannabis and psychedelic industries. The founder and former CEO and chairman of Canopy Growth Corporation, a leading cannabis company that focuses on unleashing the power of cannabis in bettering lives.
Canopy Growth Corporation demonstrates the potential benefits of cannabis in promoting economic opportunities, advancing personal well-being, and enhancing social justice. Bruce Linton has a reported net worth of $ 80 million according to Celebrity Net Worth.
Seth Rogen
$80 Million
Rogen is a famous Canadian actor, comedian, and filmmaker renowned for comedy movies like Superbad, Neighbors, and This is the End. In addition to his acting career, Seth has lately found interest in the cannabis space and has founded his own cannabis company called Houseplant.
Houseplant is a cannabis lifestyle brand that features a collection of thoughtfully crafted functional, contemporary, and luxury cannabis accessories like ashtrays, lighters, and trays. While not all of his wealth of more than $80 million comes from the cannabis business, Seth remains a force to reckon with in this lucrative industry.
Andrew Modlin
$50 Million
Boasting a net worth of around $50 million, Modlin is the co-founder of MedMen, a cannabis company with more than 25 retail shops and six cultivation facilities. The California-based company was founded in 2010 and owns and runs licensed cannabis facilities cultivation, manufacturing, and retail stores.
MedMen’s services include operating licensed cannabis facilities and offering products like marijuana edibles, vapes, flowers, and prerolls. The company mainly targets the adult-use cannabis market.
With an estimated net worth of $50 million to his name, Andrew Modlin is undoubtedly among the richest people in the cannabis industry.
Irwin Simon
$50 Million
Irwin Simon is the chairman and CEO of Tilray, a global cannabis-lifestyle and consumer packaged product that focuses on medical cannabis research. The New York-based company cultivates, produces, distributes, and sells medical and adult-use cannabis products worldwide.
Simon boasts 30 years of experience creating transformative, market-leading consumer packaged products businesses in multiple industries including natural and organic foods, personal care, dietary supplements, and cannabis. Before Tilray, Simon turned Aphria Inc. into a successful global cannabis business with dominant market shares. It’s this experience that Simon applies to steer Tilray to profitability.
This businessman has an estimated net worth of roughly $50 million and pulls off an overwhelming annual income of $10 million.
Nicholas Kovacevich
$15 Million
Nick Kovacevich is the co-founder, chairman, and CEO of KushCo Holdings, Inc., a leading supplier of ancillary cannabis products and services to legal cannabis and CBD industries. KushCo is one of the early pioneers in the legal cannabis space.
Established in 2010, KushCo specializes in packaging edibles, oils, cannabis, and other products. Nicholas was previously the CEO of Greenlane Holdings Inc, another leading cannabis company that acquired KushCo in 2021.
With an estimated annual income of $1 million and a net worth of around $15 million, Nicholas is a big name in the cannabis business sector.
Conclusion
The modern cannabis business has attracted several big players lately. This shows how lucrative this business is. If you are contemplating joining this space, these are some of the richest cannabis entrepreneurs that you will encounter.