Steve Smith invested $100,000 in mattress start-up in 2015; earns $12 million in return
It pushed Smith's net worth to $31 million.
Published - Aug 14, 2019 7:41 pm
Updated - Sep 21, 2019 7:04 pm
Steve Smith, the Australian batsman, has reportedly handed over a whopping amount of $100,000 to Koala, a mattress start-up, back in July 2015. The investment was learned to be for a 10 per cent stake in Koala. As per the deal, Smith became the company’s brand ambassador. In four years, Koala has managed to garner over 200,000 customers and was valued at around $150 million in July.
The company’s stake has meant that Smith’s stake is worth an astounding $12.18 million. It also pushed his net worth to $31 million. Back in 2018, his net worth was $27 million even after he was involved in the ball-tampering scandal at the Newlands in Cape Town that saw him getting suspended for a year.
As per reports in the Australian Financial Review (AFR), Smith has earned more from his Koala deal than from his entire cricket career altogether. Smith is currently in England where he is taking part in the Ashes against England. He made his international comeback in the 2019 World Cup, but made his return to Test cricket in the series against the Brits. He played the first game in Birmingham.
Steve Smith weaves his magic with the bat
At the Edgbaston, Smith showed no signs of nervousness whatsoever. He was greeted brutally by the English crowd, who turned up with posters, which showed Smith crying. Smith didn’t pay heed to the chaos and went on his own merry way. Pulling the visiting team out of a precarious position, Smith accomplished his 24th Test century on the first day and helped his team to a decent score.
The hosts got a first-innings lead of 90 and the Aussies lost the early wickets of David Warner and Cameron Bancroft. The early loss of wickets didn’t flutter Smith and he churned out back-to-back centuries. Throughout the game, England kept on finding tactics to get under the skin of Smith.
But their efforts went in vain. Smith showed why he is deemed as one of the greatest cricketers in the modern era, especially in Test cricket. Smith deserving got the Player of the Match award. Australia won the match by a mammoth margin of 251 runs and took a 1-0 lead in the series.