Ryan Reynolds could make $300 million from Mint Mobile sale
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 cocktails for the personal amusement of Hollywood Star Ryan Reynolds."