These days, it is continually becoming tough to realize huge profits in the United States cannabis industry. States are continually legalizing recreational marijuana, the reason the market price of bhang is going down. It is thus hard to become a marijuana millionaire. To realize huge margins, you have to become a grand producer so as to drive out the competition. Some smart individuals became successful by engaging in hemp industry jobs. Below is a list of marijuana industry millionaires and how they achieved it.
John Cervini is the first person. John is the joint founder of Aphria, having 9 million of the shares of the company. The 48 years old Cervini moved from his familys greenhouse in the year 2014, his intention was to engage in the sale of a product that would bring in more profits than that of peppers and tomatoes that were grown in the familys greenhouse. Settling for cannabis was the best decision John made.
The second person is Troy Dayton. Troy is not only the co-founder but also CEO of ArcView Group. Troy is also the co-founder of WECANNA, hemp, and marijuana crowdfunding platform. In addition, Troy is among the Canopy Boulder partners, funding startups in the marijuana industry.
The third person is Steve DeAngelo. Steve is the president and co-founder of ArcView Group, one of the biggest cannabis investment firms in the market, with more than 600 investors contributing above $200m. Steve jointly founded ArcView in 2010, after solidifying his reputation with a renowned medical dispensary in California. In 2016, the dispensary accounted for over $35m sales. Since then, DeAngelos companies continue to grow in value.
Adam Bierman is the fourth person. Adam is the joint founder of MedMen Enterprises Inc. Adam is also the companys CEO, overseeing its retail dispensaries and cultivation facilities across the U.S. As at May 2018, the net worth valuation of MedMen was 1.6 billion dollars. Adam owns class B shares worth more than 23.5 million dollars and 9.66 LTIP shares.
Andrew Modlin is the fifth person. Andrew is the joint founder of MedMen, a company possessing and operating nineteen legal cannabis facilities featuring product manufacturing, cultivation, as well as retail dispensaries. Andrew owns about 9.66 LTIP shares and 4 million class B shares.
The number six individual is Terry Booth. In high school, the friends of Booth used to buy weed from him. Today, Booth is the Chief Executive Officer of Aurora Cannabis, one of the companies that are known for making the highest profits in the world. Booth retains shares worth above $123m. At 54 years, Booth is one of the most profitable marijuana millionaires that are alive.