Rockstar Energy Drink (rockstarenergy.com) Founder Cashing Out For Nearly $4 Billion, Says The American Dream Is ‘Alive And Well’
Amid tumultuous markets, Rockstar Energy Drink’s billionaire founder Russ Weiner is cashing out. He’s selling Rockstar to PepsiCo for $3.85 billion, in a deal that he tells Forbes should give the country some hope.
“It shows the American dream is still alive and well,” Weiner says. “It shows Pepsi has faith in the future and they believe in what we created. It is a bright light in the middle of this hellstorm.”
It’s also a boatload of cash for Weiner, who owns 85% of the company. Based on the deal, Weiner is still worth about $3.9 billion, as Forbes has estimated. Capital gains will likely lower his fortune by as much as $900 million once the deal closes, but he’ll be significantly more liquid. And, as part of the agreement, PepsiCo will give Weiner about $700 million of its future tax benefits associated with the deal, payable over up to 15 years.
read more (Forbes)
Amid tumultuous markets, Rockstar Energy Drink’s billionaire founder Russ Weiner is cashing out. He’s selling Rockstar to PepsiCo for $3.85 billion, in a deal that he tells Forbes should give the country some hope.
“It shows the American dream is still alive and well,” Weiner says. “It shows Pepsi has faith in the future and they believe in what we created. It is a bright light in the middle of this hellstorm.”
It’s also a boatload of cash for Weiner, who owns 85% of the company. Based on the deal, Weiner is still worth about $3.9 billion, as Forbes has estimated. Capital gains will likely lower his fortune by as much as $900 million once the deal closes, but he’ll be significantly more liquid. And, as part of the agreement, PepsiCo will give Weiner about $700 million of its future tax benefits associated with the deal, payable over up to 15 years.
read more (Forbes)
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