Legal dagga just created its first dollar billionaire
I will not invest in drugs.Boris Jordan (when he was first approached to invest in dagga)
The legal dagga industry has created its first dollar billionaire, according to Forbes magazine.
American Boris Jordan is worth about R16 billion ($1.1 billion), a fortune made mostly by way of his 31% stake in Curaleaf – the largest dagga retailer in the United States.
Jordan also invests heavily in legal dagga through his venture capital firm Measure 8 Ventures.
Curaleaf has 48 medical dagga stores in 12 US states.
In May Curaleaf entered the recreational market through its acquisition of dagga producers Cura ($948 million) and Grassroots ($875 million).
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
A report by AmaBhungane has uncovered how Iqbal Survé has been redirecting PIC funding to keep Independent Media afloat.Read More
You may not have heard of Larry Tesler, an icon of early computing, but you use his inventions every day of your life.Read More
Refilwe Moloto interviews Marisa Jacobs, Director and Head of Immigration and Mobility at Xpatweb.Read More
The newly elected president of the Black Management Forum (BMF) is Andile Nomlala.Read More
Wendy Knowler, consumer journalist, on the importance of carefully reading your documents when you buy assets.Read More
Google has not only indexed the internet, but they have also mapped the worldRead More
Annual consumer price inflation increased at a faster rate of 4.5% in January, compared to 4% in December.Read More
South Africa's Grand Parade Investments (GPI) Ltd will sell its 95.36 percent stake in the Burger King franchise.Read More
Dr Azar Jammine (Econometrix) and John Maytham weigh in on resignation threat by the Stats SA Council over funding restrictions.Read More
Cape Town-based attorney Trudie Broekmann will represent dozens of clients who desperately want out of their timeshare contracts.Read More