There has been no shortage of famous names looking to cash in on the blossoming legal marijuana market through branding deals. The latest deal involving Canadian superstar Drake, whose net worth Forbes estimated to be $150 million in 2019, teamed up with Canopy Growth, the world’s biggest cannabis company by market value. (Forbes)
From Snoop Dogg to Seth Rogen, here’s a list of stars who indulge in the cannabis industry.
Martha Stewart (Net Worth: $640 Million)
Martha Stewart joined Canopy Growth Corp. in an advisory role to help develop a new line of products.
Canopy Growth says it will use Stewart’s knowledge of consumer products while exploring the effectiveness of hemp-derived CBD and other cannabinoids as they relate to both humans and animals. (CBC News)
Drake (Net Worth: $150 Million)
Together with cannabis producer Canopy Growth Corp, the musician and entertainer is launching the More Life Growth Company, a licensed cannabis producer based in Drake’s hometown Toronto. (November 7th, 2019)
“The opportunity to partner with a world-class company like Canopy Growth on a global scale is really exciting,” said Drake in a statement.”The idea of being able to build something special in an industry that is ever growing has been inspiring. More Life and More Blessing.” (Financial Post)
Bob Marley (New Worth: $130 Million – at the time of his death)
A line of cannabis and related products bearing the name of iconic reggae musician Bob Marley officially launches today. The brand, called Marley Natural, produces a line of cannabis strains and infused oils; they will initially be carried in a handful of dispensaries in California (where medical marijuana is legal) before expanding in that state over the next month. (Fortune)
Snoop Dogg (New Worth $124 million)
On the heels of legalization in Colorado and Washington, Snoop Dogg was one of the first to jump in. The L.A. rapper got his start in Colorado partnering with LiveWel in 2015. The next year the company expanded to Canada where its products are grown and distributed by Tweed, which is owned by Canopy Growth.
Seth Rogen (Net Worth: $55 Million)
Seth Rogen and screenwriter Evan Goldberg have teamed up with Canopy Growth Corp. to launch a Toronto-based Canadian cannabis brand called Houseplant.
Rogen and Goldberg are the business leads of the company, while Canopy Growth in its role as venture partner is providing the facilities, expertise and infrastructure to grow cannabis.
Bloomberg reported that celebrity partnerships can drive brand recognition, but may not do much to bump up value for shareholders.
Estimated net worth source: Celebrity Net Worth