Kevin Hart Just Sold 15% Of His Media Company At A $650 MILLION Valuation

By on May 1, 2022 in ArticlesCelebrity News

The business move Kevin Hart just pulled off is no laughing matter.

As first reported by the Wall Street Journal, Kevin Hart just sold a minority stake in his newly-formed media venture, HartBeat, to a private equity firm called Abry Partners. And the numbers are somewhat staggering.

Abry is investing $100 million to acquire a 15% stake in HartBeat. Paying $100 million for a 15% stake, mean's Kevin's company is now valued at…

$650 million

Kevin Hart Billionaire

(Photo by Chris Polk/PMA2014/Getty Images for dcp)

A significant portion of the $100 million cash infusion will go to Kevin personally, with another chunk going to HartBeat for planned investments and content productions. More importantly for Kevin, his remaining 85% ownership stake in HartBeat is now officially worth…

$552 million

Even before this mega-deal, Kevin was one of the highest-paid entertainers in the world. In a typical year, Kevin earns $40-60 million. The majority of those earnings typically come from touring thanks to Kevin's routinely-sold-out stadium tours.

This new venture will allow Kevin to earn significantly more money through content licensing deals such as an upcoming Roku series called "Die Hart" and a Netflix series called "Me Time." According to the Wall Street Journal, Kevin currently has dozens of projects in the works for a variety of streaming services.

Prior to this deal we estimated Kevin Hart's net worth to be $200 million. Conservatively assuming Kevin personally received around half of the $100 million cash infusion, that will likely result in a $25 million after-tax windfall for the comedian. It would not be inaccurate to say that the full $552 million enterprise value of Kevin's 85% stake should be added to his former net worth. If you did that, it would not be inaccurate to say that Kevin's new net worth would be north of $750 million. To be extremely conservative, and to take into account a future tax bill when a liquidity event eventually occurs, we now estimate Kevin Hart's net worth to be $450 million.

That's no joke.

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