Friday, May 17, 2024

Meet The 10 Richest People In The Cannabis Industry

At one point, this CEO’s net worth was more than $2 billion. And you’ll never guess how much Seth Rogen rakes in from his cannabis company.

By Aaron Bry

The recreational and medical cannabis industry has made great strides in the United States and Canada throughout the past few years. According to a recent report, cannabis is now the fifth-most valuable crop in the United States.

This phenomenal growth in the cannabis industry has allowed investors and business people alike to rack up significant profits in the space. Here are 10 of the richest people in the cannabis industry.

marijuana banking
Photo by eldadcarin/Getty Images

10.) Bruce Linton
Collective Growth Corporation Chairman/founder 

Linton, an influential investor in the cannabis and psychedelic space, has a reported net worth of $80 million according to Celebrity Net Worth.

9.) Snoop Dogg
Casa Verde Capital co-founder

Snoop Dogg is widely known for his 1990 music hits but has recently used that money from record sales for new business ventures in cannabis. Snoop co-founded Casa Verde Capital, an investment fund with a portfolio worth more than $200 million. Snoop Dogg’s net worth is around $150 million according to Celebrity Net Worth. 

Smoking Weed For The First Time? Seth Rogen And Snoop Dogg Have Some Advice
Seth Rogen (l), Snoop Dogg (r), Screenshot via The Howard Stern Show/Youtube

8.) Steve DeAngelo
ArcView Group co-founder/president 

ArcView Group, which DeAngelo co-founded in 2010, is one of the largest cannabis investment firms in the industry, with more than 600 investors contributing over $200 million. DeAngelo reported sales of more than $35 million from the dispensary, Harborside Health Center.

7.) Andrew Modlin
MedMen co-founder 

Modlin is a co-founder of MedMen, a cannabis company with more than 25 retail stores and six cultivation facilities. Modlin’s net worth is estimated to be around $50 million, according to Celebrity Net Worth.

MedMen co-founders
MedMen Co-Founders Adam Bierman (l) and Andrew Modlin (r), Photo by Rich Polk/Getty Images for MedMen Enterprises)

6.) Terry Booth
Aurora Cannabis

Booth, who co-founded Aurora Cannabis in 2013, later acquired CanniMed Therapeutics for more than $1 billion CAD. This made Aurora one of the largest cannabis companies in the world. At one point, Booth held a stake worth more than $90 million in Aurora.  

5.) John Cervini
Aphria founder  

Cervini is the founder of Aphria, a Canada-based cannabis company. The Cervini family owned a greenhouse business and grew peppers and tomatoes, but John Cervini wisely saw an opportunity in growing cannabis. At one point, Cervini held a stake worth more than $100 million in Aphria.

4.) Irwin Simon
Tilray CEO

Simon is the CEO of Tilray, one of the largest cannabis companies in the world. Simon pulls in a tremendous annual salary of more than $10 million. His net worth is estimated to be around $50 million.

3.) Nicholas Kovacevich
KushCo founder 

Kovacevich founded KushCo in 2010, before cannabis was legalized at any level in the United States. KushCo focuses on producing packaging for cannabis, oils, edibles and more. Kovacevich earns a salary of nearly $1 million a year; his estimated net worth is around $15 million.

2.) Seth Rogen
Houseplant founder

Rogen, famous for comedy movies such as Superbad and Neighbors, recently ventured into the cannabis space with his company Houseplant. While most of his millions did not come from the cannabis industry, Rogen’s estimated $80 million makes him one of the richest people in the cannabis industry.

Seth Rogen's Covid-19 Advice- Smoke Weed And Watch Movies
Photo by Jerod Harris/Stringer/Getty Images

1.) Brendan Kennedy
former Tilray CEO

Kennedy is the cofounder of Privateer Holdings and former CEO of Tilray. When Tilray’s stock was at an all-time-high, Kennedy’s net worth was more than $2 billion, according to Bloomberg. After the stock crashed, his net worth dropped to around $200 million. In 2019, Kennedy earned a salary of more than $3 million from Tilray.

This article originally appeared on Benzinga and has been reposted with permission.


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