By Aaron Bry
The recreational and medical cannabis industry has made great strides in the United States and Canada throughout the past few years. According to a recent report, cannabis is now the fifth-most valuable crop in the United States.
This phenomenal growth in the cannabis industry has allowed investors and business people alike to rack up significant profits in the space. Here are 10 of the richest people in the cannabis industry.
10.) Bruce Linton
Collective Growth Corporation Chairman/founder
Linton, an influential investor in the cannabis and psychedelic space, has a reported net worth of $80 million according to Celebrity Net Worth.
9.) Snoop Dogg
Casa Verde Capital co-founder
Snoop Dogg is widely known for his 1990 music hits but has recently used that money from record sales for new business ventures in cannabis. Snoop co-founded Casa Verde Capital, an investment fund with a portfolio worth more than $200 million. Snoop Dogg’s net worth is around $150 million according to Celebrity Net Worth.
8.) Steve DeAngelo
ArcView Group co-founder/president
ArcView Group, which DeAngelo co-founded in 2010, is one of the largest cannabis investment firms in the industry, with more than 600 investors contributing over $200 million. DeAngelo reported sales of more than $35 million from the dispensary, Harborside Health Center.
7.) Andrew Modlin
Modlin is a co-founder of MedMen, a cannabis company with more than 25 retail stores and six cultivation facilities. Modlin’s net worth is estimated to be around $50 million, according to Celebrity Net Worth.
6.) Terry Booth
Aurora Cannabis co-founder
Booth, who co-founded Aurora Cannabis in 2013, later acquired CanniMed Therapeutics for more than $1 billion CAD. This made Aurora one of the largest cannabis companies in the world. At one point, Booth held a stake worth more than $90 million in Aurora.
5.) John Cervini
Cervini is the founder of Aphria, a Canada-based cannabis company. The Cervini family owned a greenhouse business and grew peppers and tomatoes, but John Cervini wisely saw an opportunity in growing cannabis. At one point, Cervini held a stake worth more than $100 million in Aphria.
4.) Irwin Simon
Simon is the CEO of Tilray, one of the largest cannabis companies in the world. Simon pulls in a tremendous annual salary of more than $10 million. His net worth is estimated to be around $50 million.
3.) Nicholas Kovacevich
Kovacevich founded KushCo in 2010, before cannabis was legalized at any level in the United States. KushCo focuses on producing packaging for cannabis, oils, edibles and more. Kovacevich earns a salary of nearly $1 million a year; his estimated net worth is around $15 million.
2.) Seth Rogen
Rogen, famous for comedy movies such as Superbad and Neighbors, recently ventured into the cannabis space with his company Houseplant. While most of his millions did not come from the cannabis industry, Rogen’s estimated $80 million makes him one of the richest people in the cannabis industry.
1.) Brendan Kennedy
former Tilray CEO
Kennedy is the cofounder of Privateer Holdings and former CEO of Tilray. When Tilray’s stock was at an all-time-high, Kennedy’s net worth was more than $2 billion, according to Bloomberg. After the stock crashed, his net worth dropped to around $200 million. In 2019, Kennedy earned a salary of more than $3 million from Tilray.