Learn more about how the Hollywood heartthrob stashes cash and stock in a scandalously massive nine-figure sale.
The world of celebrity and business crossed paths once again as beloved actor and entrepreneur Ryan Reynolds ascended into the ranks of Hollywood’s wealthiest following a lucrative business deal involving his telecommunication venture, “Mint Mobile.” Reynolds, renowned for his charm, wit, and marriage to actress Blake Lively, significantly boosted his financial portfolio by selling Mint Mobile to telecommunication giant T-Mobile for a staggering $1.35 billion of cash and stock.
The actor, best known for his roles in “Deadpool” and “The Proposal,” joined Mint Mobile as a partner in 2019. Upon entering the telecommunications sector, he humorously noted, “Celebrities generally invest in high-end products like skincare brands or delicious gin companies. Yet Mint is making wireless way more affordable at a time when the average American is paying 65 dollars a month.
“I’m excited to champion a more practical approach to the most essential technology,” he added. The quip about “delicious gin companies” refers to his previous successful business venture, Aviation Gin, which Diageo acquired for $335 million, a deal potentially totaling $600 million over a decade.
Founded in 2016, Mint Mobile is a mobile virtual network operator (MVNO), providing affordable wireless services to US consumers using T-Mobile’s network infrastructure. The company offers prepaid plans encompassing varying volumes of high-speed data and unlimited calling and texting facilities. Designed for affordability and flexibility, Mint Mobile offers three, six, or twelve-month service plans.
It also allows customers to use compatible devices or purchase one from Mint Mobile. Furthermore, they guarantee a seven-day refund policy for any dissatisfied customers. Through primarily online operations and robust customer support, Mint Mobile eliminates the expenses of physical storefronts and long-term contracts, reflecting its commitment to offering low-cost wireless services.
In this billion-dollar deal with T-Mobile, it is widely believed that Reynolds, as a minority owner, held a 25% stake in Mint Mobile. With the deal’s value distributed as 39% cash and 61% stock, his portion of the sale comprises approximately $70 million post-tax cash ($130 million pre-tax) and a T-Mobile stock valued at $205 million.
Before this mega-deal, Reynolds’ estimated net worth was $150 million, with his Mint Mobile investment valued at $50 million. However, factoring in this transaction’s windfall, the actor’s net worth has surged to an estimated $350 million, placing him alongside Hollywood’s wealthiest like Tom Hanks, Sylvester Stallone, Clint Eastwood, and Jennifer Aniston.
As a result, Reynolds’ enviable life – filled with wit, humor, a blissful marriage to actress Blake Lively, and now a formidable wealth of $350 million – demonstrates an exemplary fusion of screen charm and business acumen.