He's handsome, funny, beloved by audiences and critics… married to Blake Lively… and after today's announcement, not just "rich", but one of THE RICHEST celebrities on the planet. Ryan Reynolds just sold his wireless company Mint Mobile to T-Mobile for $1.35 billion worth of cash and stock. Ryan was a minority owner, but even with what is believed to be a 25% stake, he will walk away from the sale with a net worth that ranks alongside other extremely rich celebrities like Tom Hanks, Sylvester Stallone, Clint Eastwood and Jennifer Aniston.
Ryan became a partner in Mint Mobile back in December 2019. At the time of the announcement he released an appropriately cheeky 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."
That reference to "delicious gin companies" was a not-so-subtle nod Reynolds's own Aviation Gin company, which he sold to Diageo nine months later for $335 million (the deal could ultimately be worth around $600 million over 10 years).
So what is Mint Mobile anyway? And how much will Ryan walk away with from this deal?
What Is Mint Mobile?
You are probably at least a little bit aware of Mint Mobile thanks to the commercials Ryan appeared in for the company. For example the commercial when he brought back fellow Canadian comedy legend Rick Moranis, who had been retired from acting for decades, basically just so he could say hi to him:
Mint Mobile is what is known as a mobile virtual network operator (MVNO) that provides affordable wireless service to customers in the United States. Founded in 2016, the company operates on T-Mobile's network and offers prepaid plans with varying amounts of high-speed data, along with unlimited talk and text.
Mint Mobile's plans are designed to be affordable and flexible, with options for 3, 6, or 12 months of service at a time. Customers can bring their own compatible device or purchase one from Mint Mobile, and the company also offers a 7-day money-back guarantee for customers who are not satisfied with their service.
Mint Mobile's business model is based on offering low prices by cutting out many of the traditional costs associated with wireless carriers, such as physical stores and long-term contracts. Instead, the company operates primarily online and relies on its website and customer service team to support its customers.
How Much Money Did Ryan Just Make?
It's generally believed that Ryan owned 25% of Mint Mobile. The deal's overall value is reportedly $1.35 billion in cash and stock, broken out as 39% cash and 61% stock.
Using those numbers, as 25% owner, Ryan would presumably receive:
Cash: $70 million after tax ($130 million pre-tax)
- [Using this math: 39% of $1.35 billion is $526 million in cash. 25% of $526 million is $131 million]
Stock: $205 million worth of T-Mobile stock
- [Using this math: 61% of $1.35 billion is $823 million. 25% of $823 million is $205 million worth of T-Mobile stock. T-Mobile's price per share today is $144. Therefore, its presumable that Ryan is also receiving around 1.4 million shares of T-Mobile. 1,423,611 shares to be specific.]
To calculate Ryan Reynolds net worth we now use the $70 million after-tax cash number and FULL $205 million stock number. If we ever learn that he has sold all or some of his shares, we'll account for taxes at that point. For now, we assume a full $275 million gain to his net worth. Before today's news we assumed he was worth $150 million using a $50 million value of his Mint Mobile investment. Therefore, after today's deal we believe Ryan Reynolds' net worth is $350 million.
So now he's handsome, funny, married to Blake Lively and worth $350,000,000. Not a bad life!