Cannabis billionaires. The cannabis industry has dramatically evolved as its legalization sweeps across Canada and some U.S states. The legal marijuana industry has led to the rise of cannabis billionaires. The sales of marijuana have always been a very profitable business which gives rise to incredible riches, particularly for drug dealers and plugs. However, the new legal marijuana industry has produced a new generation of corporate marijuana moguls.
Bruce Linton – Canopy Growth Corp
Linton was raised on a hobby farm in Wellesley, Ontario. When growing up, he was occupied with house chores. He is presently the Chairman and CEO of Canopy Growth Corp., which is North America’s first publicly traded legal medical cannabis producer. It can be seen on the Toronto Stock Exchange under the ticker name WEED.
Linton started progressing in the tech industry, however, after failing at entrepreneurship 16 times, he established himself at the World’s biggest cannabis company.
He is now a partner at Air Canada’s million-mile club as his company has grown into Europe and Australia and associated with Snoop Dogg and Constellation Brands, the makers of Corona, who have a $5.1 billion investment in the company.
The company which was established from an old Hershey’s chocolate factory in the small town of Smiths Falls, Ontario has a net worth of more than $9 billion.
Brendan Kennedy, Michael Blue and Christian Groh – Tilray Inc.
The first people to invest in the cannabis industry when it was still growing to include Brendan Kennedy, Christian Groh, and Michael Blue. Their investment firm called Privateer Holdings currently has a stake in multiple cannabis companies. Leafly and Marley Naturals are also their companies. Marley Naturals is a line of cannabis products produced in collaboration with the Bob Marley family.
Canadian licensed producer Tilray Inc. is their largest company, and according to Yahoo News, it has a net worth of more than $21 billion. Tilray currently exports legal cannabis worldwide to European countries and Australia.
Terry Booth – Aurora Cannabis Inc.
Aurora Cannabis Inc. was founded in 2013, and its CEO is Terry Booth. This company is one of the world’s largest licensed cannabis producers founded in 2013. A report from Bloomberg states that Booth used to sell quarter ounce bags for $25 when he was in high school. After recently purchasing Canada’s first licensed producer CanniMed for $1.2 billion, Aurora Cannabis is currently dealing with billion-dollar figures.
Aurora Cannabis exports cannabis worldwide and hosts an 800,000-square-foot facility called Aurora Sky in Alberta, Canada which is currently the most significant growth in the world.
Bart Mackay – CannaVest
Mackay was the first cannabis stock billionaire when his hemp-based stock was named as the best performing stock in the country as stated by a 2014 report by Forbes.
A lawyer in Las Vegas lawyer who has investments in CannaVest, which deals with the unpopular Over-The-Counter Bulletin Board, was known to be leading the trade of hemp in America and was reported to be worth about $1.8 billion when Mackay passed the portal to become a cannabis billionaire.
However, due to Mackay’s billion-dollar valuation, he doesn’t consider himself as wealthy, stating that he owes his status to an overvalued stock.
According to a statement from Mackay to Forbes, it’s a paper valuation and not something he carries to the bank. He also said that he underwent the dot.com period which had an existing bubble.