04/06
Why Billionaires Are Getting Ahead of the Cannabis Gold Rush

Why Billionaires Are Getting Ahead of the Cannabis Gold Rush

Published November 26, 2019 by Greg Miller Executive Director, NICI



The smartest people in the room are all investing in cannabis…

There’s a saying that if you’re the smartest person in the room, you need to go to another room. As an investor, you aren’t going to learn anything if you know more than everyone else you normally interact with. If you’re looking for that room of super smart and well-connected people who are betting on the next big thing, chances are, those people are investing in cannabis.


For example, Peter Thiel was a co-founder of PayPal and then sold it to eBay for $1.5 billion. He was also Facebook‘s first outside investor and sold the majority of his $500,000 stake for over $1 billion. After all that success in tech, Thiel’s Founder’s Fund became the first institutional fund to invest in a cannabis company back in 2015.


Or how about Josh Kushner, the brother of Jared Kushner (President Donald Trump‘s son-in-law). As of 2016, the Kushner family had an estimated net worth of $1.8 billion.

Despite that significant wealth, Josh wants to make a name of his own and started the venture capital firm Thrive Capital Management.


Back in August, Thrive Capital led a $35 million funding round for LeafLink, a marketplace for wholesale buyers and sellers of cannabis. Those are just two examples, but one thing is crystal clear. The smartest and most well-connected people in the room are going all-in on cannabis…

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