Ryan Reynolds may be best known for his portrayal of the wise-cracking Deadpool, but the actor is also developing a reputation as a savvy investor. After taking stakes in businesses like Aviator Gin and Mint Mobile, the Canadian's wealth from dealmaking may far surpass his movie industry earnings.
Reynolds could earn a payout of more than $300 million from his stake in Mint Mobile, which was sold to telecom giant T-Mobile on Wednesday for up to $1.35 billion. Reynolds bought a stake in Mint Mobile in 2019, joking at the time that he would be paying himself $15 a month, about the price for the company's basic wireless plan.
His stake in Mint Mobile represents about 25% of the company, according to Fortune Magazine. Based on the sale price, that would value Reynolds' stake at about $340 million. Mint Mobile said it wasn't able to comment beyond the publicly disclosed information for the sale, while T-Mobile didn't immediately return a request for comment.
Reynolds said he had bought "a pretty large chunk of the company" in a Wednesday CNBC interview, although he didn't specify the size of the investment.
Mint wasn't an obvious next step after @AviationGin. Low-cost wireless isn't glamorous. Yet, in the 3+ years, @MintMobile grew exponentially and @MaximumEffort has grown to over 40 people from 3. So proud of the team and so lucky to have my partners @grd212 & @JamesWT ❤️ pic.twitter.com/VqFl3mxHaE
— Ryan Reynolds (@VancityReynolds) March 15, 2023
Reynolds earned about $70 million in 2020, largely based on his film and entertainment earnings, according to Forbes. The actor makes about $20 million per film, according to the publication — a bonanza for most people but not enough to place him on the list of Forbes' top-earning entertainers in 2022. (Top earner: the members of the rock band Genesis, with $230 million in earnings last year.)
But the Deadpool actor has branched out beyond films in recent years, investing in Aviation Gin, which garnered attention in 2019 with a viral ad that mocked a much-maligned Peloton commercial.
Aviation Gin was sold to spirits giant Diageo in 2020 for up to $610 million, with Diageo saying that Reynolds would maintain "an ongoing ownership interest." Since the deal was announced, Diageo's U.S. shares have gained about 25%.
"Mint wasn't an obvious next step after Aviation Gin. Low-cost wireless isn't glamorous. Yet, in the 3+ years, Mint Mobile grew exponentially," Reynolds tweeted on Wednesday after the T-Mobile deal was announced.
Reynolds is also part-owner of Wrexham AFC, a Welsh soccer team that he bought with actor Rob McElhenney in 2021 for about $2.5 million. Additionally, Reynolds owns content company Maximum Effort, which describes itself as making "movies, tv series, content, ads and co*cktails for the personal amusem*nt of Hollywood Star Ryan Reynolds."
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Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.
