More than 15 seasons into his NBA career, a championship still eludes Chris Paul. But as his quest for a title continues with the Suns, Paul has undoubtedly succeeded in other ways. Financially, he’s collected over $300 million in salary during his NBA career. However, Paul has also found a way to turn that money into even more money through a series of savvy investments. While his portfolio is quite extensive, let’s take a look at the five best investments that Paul has made.
Beyond Meat
The market for imitation, plant-based “meat” is growing by leaps and bounds. The aptly named Beyond Meat is leading the way, with Paul being an early investor in the company founded in 2009. Starting in 2019, Paul became a vegan, following a strict diet that has perhaps helped him to extend his NBA career. Needless to say, it makes sense that Paul would invest in a company like Beyond Meat. That investment paid off for Paul in 2019 when the IPO for Beyond Meat received a $1.5 billion valuation. The stock price rose quickly after that while the company did over $400 million in revenue in 2020. In other words, the future is bright for Beyond Meat and investors like Paul.
WTRMLN WTR
No, Paul hasn’t invested in the alphabet. In fact, WTRMLN WTR is a beverage company that specializes in flavored bottled water. Paul was able to get himself involved early in the company’s history as one of its first investors. Among the other investors was Kevin Durant and his company Thirty-Five Ventures. Both Paul and Durant got a lot of their investment in WTRMLN WTR in 2020 when Caribe Juice acquired the company.
Hyperice
In addition to investing in food and beverage companies that can aid in sports performance, Paul has also invested considerably in Hyperice, which sells performance recovery products. Hyperice has all kinds of massage and recovery equipment, and Paul made a huge investment, helping the company raise a round of nearly $48 million. With Paul and other investors getting behind them, Hyperice has experienced huge success. Over the last three years, the company’s revenue has gone from $10 million annually to $200 million. In addition, in 2020, Hyperice became the official recovery technology of the NBA, and that partnership with the league has aided in giving the company a valuation of nearly $1 billion.
La Fête
Paul branched out from the sports world when he invested in a wine company called La Fête. He actually used his connections to help the company get a massive investment from Constellation Brands Ventures. In addition to making great wine, La Fête does its part to help other alcohol-related businesses that are owned by minorities, which is part of what attracted Paul to La Fête in the first place.
Rajasthan Royals
Paul has made several investments in other sports franchises over the years, although the most surprising one was in the Rajasthan Royals, a cricket team in India. Both the franchise and the Indian Premier League in which it plays were founded in 2008, so it’s still early days. But Paul sees the value in investing in a sport like cricket, which has a global audience, and it means a lot for the sport to have a prominent American athlete like Paul investing in it.
As Paul’s portfolio continues to expand, especially in the areas that intersect wellness and athletics, one other company to keep your eye on is Move Insoles. Insoles for your shoes with leading technology for a better game day performance. The company was initially conceived by NBA agent Nate Jones of Goodwin Sports during the pandemic. Jones brought in Portland Trail Blazers star Damian Lillard. Eventually, CP3 became a strategic advisor and investor, along with NBA Sixth Man of the Year Jamal Crawford and players like Anthony Tolliver and Matisse Thybulle as investors as well.
