The recreational and medical cannabis industry has made great strides in the United States and Canada throughout the past few years. According to a recent report from Leafly, cannabis is now the fifth-most valuable crop in the United States.
This phenomenal growth in the cannabis industry has allowed investors and business people alike to rack up significant profits in the space.
Here are 10 of the richest people in the cannabis industry:
10.) Bruce Linton, chairman and founder of Collective Growth Corporation
Linton, an influential investor in the cannabis and psychedelic space, has a reported net worth of $80 million according to Celebrity Net Worth.
9.) Snoop Dogg, cofounder Casa Verde Capital
Snoop Dogg is widely known for his 1990 music hits but has recently used that money from record sales for new business ventures in cannabis. Snoop co-founded Casa Verde Capital, an investment fund with a portfolio worth more than $200 million. Snoop Dogg’s net worth is around $150 million according to Celebrity Net Worth.
8.) Steve DeAngelo, co-founder and president of ArcView Group.
ArcView Group, which DeAngelo co-founded in 2010, is one of the largest cannabis investment firms in the industry, with more than 600 investors contributing over $200 million. DeAngelo reported sales of more than $35 million from the dispensary, Harborside Health Center.
7.) Andrew Modlin, MedMen co-founder
Modlin is a co-founder of MedMen, a cannabis company with more than 25 retail stores and six cultivation facilities. Modlin’s net worth is estimated to be around $50 million, according to Celebrity Net Worth.
6.) Terry Booth, co-founder of Aurora Cannabis
Booth, who co-founded Aurora Cannabis in 2013, later acquired CanniMed Therapeutics for more than $1 billion CAD. This made Aurora one of the largest cannabis companies in the world. At one point, Booth held a stake worth more than $90 million in Aurora.
Published: December 03, 2021
Founder & Interim Editor of L.A. Cannabis News