When a celebrity invests in the marijuana industry, the news that follows would make you think the celebrity had just announced his/her candidacy for president.
Like many of us, celebrities regularly invest their money in companies and inventions to generate extra sources of income. A commonplace for celebrities to invest their money is the Tech industry, but with just a few exceptions, a celebrity investment in a new app is not breaking news.
Investing in marijuana is a different story. When a celebrity invests in the marijuana industry, the news that follows would make you think the celebrity had just announced his/her candidacy for president. Celebrity investments in marijuana are not just publicity stunts; they are strategic investments designed to capitalize on the individual’s popularity as well as the booming legal marijuana industry.
The mix of celebrities who are investing in the marijuana industry is comforting. I say comforting because there are some unlikely investors in the bunch. Their presence signals to the public that you don’t have to be associated with marijuana to support the industry. For example, active NFL player Frostee Rucker made a sizeable investment in the “Responsible Ohio” campaign, which positions him to profit from 1 of the 10 proposed Ohio grow sites.
Snoop Dogg is one of the celebrities you would expect to see investing in the marijuana industry. The actor/rapper who claims to smoke weed every day has promoted marijuana through his music and movies for years, but now he converting his greenbacks into another type of green. This year Snoop Dogg started Casa Verde Capital, a marijuana-focused venture capital fund. Snoop has already invested in a marijuana delivery service “Eaze”.
You have to be living under a rock if you don’t know that Willie Nelson is a major marijuana advocate. Now, The Red-headed Stranger is putting his money where his mouth is.
“I’ve bought a lot of pot over the years, and now I’m going to sell some back.”—Willie Nelson
Nelson invested in a number of legal marijuana operations in the past years, but in 2016 a new brand bearing his namesake will be introduced – “Willies Reserve”. Willies reserve will be grown in Colorado and Washington and distributed in those states until the company is able to expand with further legalization.
“I am looking forward to working with the best growers in Colorado and Washington to make sure our product is the best on the market,” said Nelson
Not all celebrities are investing in cultivation and dispensary locations. Melissa Etheridge, who was diagnosed with breast cancer in 2004, began using marijuana around that time to help with the side effects of chemotherapy. Prior to her diagnosis, Etheridge had avoided marijuana and other drugs, but when many alternative medicines had failed her, she gave marijuana a try. Now she is a supporter of the marijuana industry and recently invested in a marijuana- infused wine tincture. The tincture is only available to California residents at this time, but like all other marijuana companies, they have plans to expand as laws permit.
Investing in marijuana
Putting your money in marijuana investments seems like the popular thing to do right now. If you are interested in investing, do some research first, fact is that celebrities are often exposed to some of the more lucrative opportunities before the rest of us. There are many publicly traded marijuana companies, but they are often shady businesses that do not actually engage in anything marijuana related. As always buyer beware. Bottom line, the financial and social support celebrities are giving to the industry is invaluable. Their presence further solidifies the progress legal marijuana has made in America.
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