Ryan Reynolds Sells His Wireless Company for More Than $1 Billion
Ryan Reynolds just secured a major payday thanks to his wireless company, Mint Mobile. According to PEOPLE, T-Mobile is acquiring Mint Mobile, in which Reynolds is an investor. Mint Mobile reportedly cost T-Mobile a pretty penny, as the phone service giant purchased the smaller competitor for $1.35 billion.
Since Reynolds is an investor in Mint Mobile, he stands to earn a good deal of money thanks to this deal. As of right now, his exact stake in the company is undisclosed, but Variety reported that it could be as high as 25%. On Wednesday, Reynolds released a statement about this news, saying, "Mint Mobile is the best deal in wireless and today's news only enhances our ability to deliver for our customers." In classic fashion, the Red Notice star included a joke about the business deal.
"We are so happy T-Mobile beat out an aggressive last-minute bid from my mom Tammy Reynolds as we believe the excellence of their 5G network will provide a better strategic fit than my mom's slightly-above-average mahjong skills," he continued. "I am so proud of the entire Mint team and so excited for what's to come." As a part of this deal, Reynolds will reportedly remain in his creative role. PEOPLE also noted that T-Mobile will pay the hefty $1.35 billion price tag via cash (39% of the amount) and stocks (the other 61%).
Mike Sievert, the CEO of T-Mobile, also released a statement about the company's latest deal. His statement read, "Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver for customers on the Un-carrier's leading 5G network and now we are excited to use our scale and owners' economics to help supercharge it — and Ultra Mobile — into the future."
While fans know Reynolds for his roles on the big screen, he's made a name for himself in the business realm. He co-owns Welsh soccer team Wrexham with It's Always Sunny in Philadelphia star Rob McElhenney. Additionally, the actor formally owned the Aviation Gin brand. In 2020, he actually sold Aviation Gin to European beverage company Diageo in a deal that was estimated to be around $610 million. So, it's clear that Reynolds is as business savvy as he is talented.