Business

Ryan Reynolds purchases an ownership stake in Mint Mobile

Posted November 25, 2019 12:41 p.m. EST

— Actor Ryan Reynolds is diversifying his portfolio with the purchase of an ownership stake in mobile wireless provider Mint Mobile.

The company was created in 2016 with the idea of delivering an "affordable, premium wireless" service direct to consumers, according to its website.

"It's a bit unconventional which is why I like it," Reynolds said in a statement. "Celebrities generally invest in high-end products like skincare brands or delicious gin companies. Yet Mint is making wireless way more affordable at a time when the average American is paying 65 dollars a month. I'm excited to champion a more practical approach to the most essential technology."

Mint Mobile says Reynolds will be a part of the company's "strategic decision making" along with helping communications and marketing efforts.

Reynolds purchased an ownership stake in liquor company Aviation Gin last year, and he has openly promoted the spirit through his social media channels. He also helped create a unique ad that promoted his upcoming Netflix film, "6 Underground," in an ad for Aviation Gin, which was in an ad for a Samsung QLED TV.

We can only hope Reynolds extends his schtick to promote Mint Mobile.

Celebrity investors

Reynolds may be trying to follow in the footsteps of other actors who have struck gold with their investments.

Robert De Niro started the restaurant Nobu with chef Nobuyuki Matsuhisa, and there are now over 40 locations around the world, according to the company's website.

Ashton Kutcher, through a venture capital firm that he co-founded called A-Grade Investments, was an early investor in companies such as Uber, Spotify and AirBnb.

George Clooney co-founded the tequila brand Casamigos Tequila, which was sold for $700 million with the potential for another $300 million based on performance over the next 10 years, according to Forbes.

Jessica Alba co-founded the consumer goods company Honest Co., which was once valued at $1.7 billion.

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