(MENAFN) While Ryan Reynolds is best known for his role as the wisecracking superhero Deadpool, the Canadian actor is also becoming known for his savvy investments. Reynolds has taken stakes in several businesses, including Aviator Gin and Mint Mobile, and his wealth from dealmaking may soon surpass his earnings from the movie industry.
Reynolds' stake in Mint Mobile, a wireless carrier that offers low-cost plans, was sold to telecom giant T-Mobile on Wednesday for up to USD1.35 billion. The actor bought a stake in Mint Mobile in 2019, joking at the time that he would be paying himself USD15 a month, which was the price of the company's basic wireless plan.
According to Fortune Magazine, Reynolds' stake in Mint Mobile represents about 25 percent of the company. Based on the sale price, his stake would be valued at approximately USD340 million. Neither Mint Mobile nor T-Mobile has commented on the details of the sale beyond what was publicly disclosed.
Reynolds has also hinted at the size of his investment in Mint Mobile, saying in a Wednesday CNBC interview that he had bought "a pretty large chunk of the company." However, he did not specify the exact amount of his investment. The actor has previously invested in a range of businesses, including Aviation Gin, which was sold to Diageo for a reported USD610 million in 2020.
Reynolds' success as an investor highlights the growing trend of celebrities using their fame and fortune to invest in startups and other businesses. While Reynolds' earnings from his movie roles are nothing to scoff at, his success in the investment world is further proof of his business acumen. As Reynolds continues to take stakes in businesses, it will be interesting to see how his investments impact his overall wealth and influence in the business world.
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