Ryan Reynolds' Mint Mobile was recently sold to T-Mobile, and the acquisition price has been reported to be around $1.35 billion, which will be a combined 39% cash and 61% stocks. Reynolds currently owns around 20-25% of the company but the profits earned by him from the deal have not been revealed so far.
Reynolds will possibly receive a nine-figure payment and he will continue his creative role with the company. The Deadpool star issued a statement regarding the deal, saying that it shows their potential to offer the best for their customers. He continued:
"We are so happy T-Mobile beat out an aggressive last-minute bid from my mom Tammy Reynolds as we believe the excellence of their 5G network will provide a better strategic fit than my mom's slightly-above-average mahjong skills. I am so proud of the entire Mint team and so excited for what's to come."
T-Mobile CEO Mike Sievert also expressed his happiness regarding the deal, saying that they will earn profits using the marketing process through which Mint has gained recognition. He continued:
"We think customers are really going to win with a more competitive and expansive Mint and Ultra."
Ryan Reynolds became an owner of Mint Mobile in 2019
Ryan Reynolds became the owner of Mint Mobile in November 2019 and the company confirmed the same on its official website at the time. Reynolds was initially a user of Mint Mobile, and after being announced as the owner, he said:
"While every other tech titan is off chasing rockets, I'll corner the budget-friendly wireless sector. Like most people, I only use rockets 10-12 times a year but I use my mobile service every day."
TechCrunch reported the following month that Reynolds had brought in a minority stake in the company. Speaking about his involvement, Mint Mobile CMO Aron North said that Reynolds' involvement was important for the company and described him as a celebrity who is funny, entertaining, and engaging.
Mint Mobile is a subsidiary of Ka'ena Corporation, which was linked to Ultra Mobile. It has been a recipient of several awards, including one from WhistleOut in 2018. It was also included in the list of the Best Cell Phone Plans of 2022 by the U.S. News & World Report.
Other businesses owned by Ryan Reynolds
Ryan Reynolds previously acquired a minority ownership stake in Aviation American Gin in 2018 but the price of the deal has not yet been revealed. He is the spokesman and creative director for the brand.
Following the involvement of Reynolds, sales increased by 2020 and the company became the second-largest super-premium Gin brand in the US. Ryan reportedly owned a 20% stake in the company and might have received around $67 million pre-tax from the upfront cash portion of the sale alongside $55 million from the milestone payments.