Kevin Durant scores huge return on Coinbase investment
Durant has backed about 50 startups since 2017, with investments ranging
between $250G and $1M
https://www.foxbusiness.com/markets/kevin-durant-scores-huge-return-on-coinbase-investment
Kevin Durant sat out Wednesday night — as his bank account soared.
On Wednesday, the Nets star saw his Coinbase investment pay off when the
digital currency exchange platform hit the public markets with a whopping $86
billion valuation. It marks Durant’s largest investment victory to date with
his Thirty Five Ventures company.
Durant initially invested in Coinbase in 2017, making his investment worth
54-fold after Wednesday’s news, according to Sportico. Since 2017, he has
invested in around 50 startups.
In a 2018 interview with ESPN, Durant revealed that most of his investments
have ranged anywhere from $250,000 to $1 million. Therefore, a $250,000
investment in Coinbase in 2017 would be worth $13.5 million at Wednesday’s
closing price, per Sportico.
Coinbase, since its 2012 inception, has soared in the cryptocurrency market
with its advertised easy-to-use model. In late 2020, revenue more than
doubled to $1.1 billion, according to the website. Though, that was pocket
change compared to the first quarter of 2021, in which Coinbase announced
preliminary revenue of $1.8 billion, up nine-fold.
Durant’s massive payday adds to the $39 million salary he will collect this
season with the Brooklyn Nets — in addition to an estimated $35 million from
his media and film ventures and sponsorships with brands including Nike,
Degree, YouTube and Master & Dynamic.
The two-time NBA champion founded Thirty Five Ventures in 2017, alongside his
longtime business manager Rich Kleiman. The company incorporates the duo’s
existing business entities, including Durant’s personal brand/marketing
portfolio, investments and on-court contracts, as well as the Kevin Durant
Charity Foundation and the multi-channel sports business network, The
Boardroom.
Durant has said the best business advice he’s been told is: "Don’t do
things just for money. Don’t do things just for fame. Do things because you
feel right and it feels true."
Coinbase certainly felt right.
大致翻译，负责虚拟货币交易的交易所Coinbase正式在Nasdaq挂牌
挂牌首日Coinbase的市值就冲上860亿美元大关，让很多股东一夕间变成亿万富翁
其中篮网队球星Kevin Durant早在2017年
就透过旗下公司Thirty Five Ventures Company投资这个新创事业
虽然没有明说KD究竟持有多少股份，但根据他在2018年接受访谈时表示
自己投资了超过50家的各式新创，每家的投入金额都在250K~1M之间不等
如果以最低25万镁来计算，其市值已经高达13.5 mil，根据星期三的收盘价
相当于获利54倍
KD的年收入组成包含薪资39M，与副业与代言收入35M