11 Celebrities That Are Profiting From Their Investments In The Lucrative Pot Industry

The number of marijuana-friendly states in America is steadily growing, with Canada becoming the second country to fully legalise cannabis. Considering the local developments that have made the personal use of marijuana legal, it may be time to start investigating the profitability of a cannabis company, like these celebrities did. Cannabis stocks are also skyrocketing, in 2016 the cannabis stock index grew by 236%, according to Viridian Capital Advisors, a financial advisory firm specialising in the marijuana industry. A new report from New Frontier Data reveals that the legal cannabis market will create more than a quarter million jobs in the USA by 2020. Forbes also reports that in 2016, the legal cannabis market was worth $7.2 billion, and is projected to grow 17% year-on-year, resulting in a $13.3 billion in medicinal marijuana and $11.2 billion in adult recreational sales by 2020. Here are the 11 celebrities that saw this trend coming and have invested in the lucrative marijuana industry: Bob Marley Whoopi Goldberg Mike Tyson Woody Harrelson Wiz Khalifa Gene Simmons Willie Nelson The Game Richard Branson Snoop Dogg Melissa Etheridge 1. Bob Marley The estate of the late Bob Marley, including his widow Rita and his 11 children, are prominent players in the cannabis industry. Marley Natural , their business, includes branded marijuana, body care products and pipes. They are backed by Privateer Holdings , a Seattle-based investment firm, which recently raised $200 million and is funding Marley Natural’s expansion into Canada. 2. Whoopi Goldberg This well-known celebrity has invested in a California medical marijuana product line known as Whoopi and Maya Synergy . The line of cannabis products focuses on women’s health, and is specifically created to relieve menstrual discomfort. “I see cannabis as a step in the direction of new forms of medicine, but it also has its place in history and goes back to Queen Victoria,” says Goldberg. “There are many people trying to get you high. We're just trying to get you comfortable.” 3. Mike Tyson Recently, the former boxer broke ground on the Tyson Ranch, a project to build a pot farm in California City. “The news of Mike Tyson setting up a cannabis farm caught many by surprise because he's not necessarily a figure that you would associate with cannabis use,” says John Kagia, a cannabis industry analyst for New Frontier Data. “But everyone knows who Tyson is.” 4. Woody Harrelson Woody Harrelson, best known for his acting roles in films such as The Hunger Games and Zombieland was one of over sixty people to apply to open a dispensary in Hawaii. Harrelson has long been a supporter of cannabis reform and legalisation. Hawaii required applicants to show they had $1 million in funding and $100 000 for each dispensary. Had Harrelson been successful he would have opened two production facilities and two retail locations. 5. Wiz Khalifa Wiz Khalifa went from expressing support for the legalisation of cannabis to getting involved in the business. His strain, Khalifa Kush, became popular because of the dispensary The Cookie Co. 415 , in San Francisco. He’s recently invested more into the cannabis industry by teaming up with Colorado-based RiverRock Cannabis and developing a brand-new product line. Khalifa has also launched a mobile game called Wiz Khalifa’s Weed Farm, which guides players to grow cannabis, harvest the plant and reinvest their profits to succeed. “It was never really a goal of mine to get into the business, it developed over the past two or three years and became more serious,” says Khalifa. “But then I started figuring out what you can do, and it just started making sense. That’s when I started building my business around it. Now we’re at a place where I feel we’re going to be able to do something nobody’s ever done before.” 6. Gene Simmons Although he’s never smoked pot himself, he knows a good investment when he sees it. “I've got $10 million wrapped up in the stock because I believe in it. For me, it's a business move,” he says. The Kiss frontman invested in the Canadian cannabis grower Invictus and was also paid $2.5 million to serve as Chief Evangelist Officer. Invictus CEO Dan Kriznic says the cannabis company raised $80 million and is valued at around $200 million. 7. Willie Nelson He is known as America’s most famous stoner, he has been involved in the cannabis industry for many years. The country singer has even launched his own brand of cannabis called Willie’s Reserve. With this initiative he wants to send the message that he believes in the environmental aspect of this process and that it represents a great opportunity to revitalise small farms and grow “clean,” low-impact products. 8. The Game Rapper, The Game has recently joined the famous figures investing in the cannabis industry. He chose to associate his image with a line of marijuana products. In collaboration with G Farma Brands , he launched a line of pre-rolled marijuana cigarettes and a line of drinks including traditional, pink and strawberry lemonade containing cannabis oil. 9. Richard Branson The serial entrepreneur and founder of the Virgin Group invested in Sidecar, a ride-hailing and on-demand delivery service. Sidecar promises to deliver medicinal marijuana from local dispensaries in San Francisco to patients’ homes in under an hour. “Drugs are more available than ever before, and it's become abundantly clear that the only way of protecting our families and friends from the worst impacts of illegal drugs is to take back control of the market,” says Branson. “That's what regulation does quite effectively. Either we put responsible government agencies in control of the market or we leave it in the hands of gangsters.” 10. Snoop Dogg This rapper has made it no secret that he enjoys cannabis, after 20 years of consuming it he has designed his own line of marijuana products under the Leafs By Snoop label. He markets buds, edibles and concentrates that can be purchased in Colorado dispensaries. He recently also launched a website entirely devoted to marijuana that aspires to be a resource for those looking to learn more about cannabis and the industry. The website is backed by celebrities like Miley Cyrus and Seth Rogen, and features videos with information and recipes, interviews with other celebrities and in-depth articles exploring the effects of cannabis making information more accessible to the masses. 11. Melissa Etheridge Rock singer, Melissa Etheridge is a multiple Grammy award winner, and holder of an Oscar for her music, publicly endorses legalisation of cannabis. After using medical marijuana during her bout with breast cancer, she decided to enter the market. She developed a unique line of products including wines featuring cannabis. "People use marijuana for many reasons. I needed it to help me get through some hard times. I used it every day during the chemo. It gave me an appetite, so I could eat and stay strong. It also helped me with depression and relieved my gastrointestinal pain,” explains Etheridge.

Global Capability Centres Boom As They Move Up The Value Chain

Global Tech Companies Are Turning To South Africa For Media And Marketing Expertise

Innovation Summit 2021 Showcases SA’s Top Tech Entrepreneurs

Three Customer Experience Strategies You’re Missing

Embracing A Digital-First World, SMBs Can Have The Confidence To Thrive

Applications for SAB Foundation Are Now Open

Trending Tags

Global Capability Centres Boom As They Move Up The Value Chain

Global Tech Companies Are Turning To South Africa For Media And Marketing Expertise

Innovation Summit 2021 Showcases SA’s Top Tech Entrepreneurs

Three Customer Experience Strategies You’re Missing

Embracing A Digital-First World, SMBs Can Have The Confidence To Thrive

Applications for SAB Foundation Are Now Open

Trending Tags

11 Celebrities That Are Profiting From Their Investments In The Lucrative Pot Industry

Expect to see the usual suspects on this list of well-known cannabis investors, as well as some surprises that know a good investment when they see it.

Nicole Crampton

Quick Links

NEWSLETTER SIGN-UP

EXPERT INSIGHTS

4 Banking Secrets That Most People Don’t Know About

Advice from RevenuePartners to hack sales team productivity

Top Reasons Why You Should Study Business Administration

Effective Video Strategies For Your Online Store

Retrieve your password

Trending Tags

Trending Tags

11 Celebrities That Are Profiting From Their Investments In The Lucrative Pot Industry

Expect to see the usual suspects on this list of well-known cannabis investors, as well as some surprises that know a good investment when they see it.

RelatedTopics

5. Wiz Khalifa

Quick Links

NEWSLETTER SIGN-UP

Sign-up for Weekly ExpertHub Updates

EXPERT INSIGHTS

Retrieve your password