“I’ve bought a lot of pot over the years, and now I’m going to sell some back.” – Willie Nelson
Celebrity Investors Flock Towards Marijuana Industry
Celebrities like Snoop Dogg, Willie Nelson, Seth Rogen, Nick Lachey, Oscar Robertson, Montel Williams, Melissa Etheridge and Frostee Rucker are all setting their sights on the budding marijuana industry.
Thought to exceed $3 billion in total recreational and medical marijuana sales this year, there is no doubt that the marijuana industry is rapidly growing sector with huge potential for investors.
Some of the celebrities publicly supporting or investing in marijuana businesses will come as no surprise. With personalities like Snoop or Willie Nelson, they have been advocating for the decriminalization of marijuana for decades. But some other celebrities might come as surprise, former boy band star Nick Lachey for example, or NFL star Frostee Rucker.
Celebrity Marijuana Start-Ups
Snoop Dogg has even started raising a fund to help weed start-up companies. Named Casa Verde Capital, the hope is to raise $25 million that can be used to help small marijuana start-ups. It has already allocated some funding to help launch the cannabis news website Merry Jane, a project that both Snoop and Seth Rogen are involved in.
Willie Nelson is even branding his own line of cannabis, calling it Willie’s Reserve. Capitalizing on the fact that he is synonymous with cannabis, Willie’s Reserve will help thousands of people accomplish their dream of smoking with Willie (sort of).
Huge Potential for Success AND Failure
This is all just the tip of the iceberg though. Because the legal marijuana industry is in its infancy, there are hundreds of businesses popping up, the trick is sifting through them to find the true winners.
There is no arguing that the legal marijuana industry will be enormous, already worth billions a year. This doesn’t mean that any investment in cannabis is a smart investment.
Far more marijuana businesses will fail and fade away than will succeed. So do your research and invest wisely.
sources: theguardian.com & techcrunch.com
