In 2020, when several business owners were calling it a day amidst a coronavirus pandemic-induced global lockdown, Dwayne Johnson did the opposite. He announced to the world his new spirit venture, a tequila brand by the name of Teremana. Fast forward three years, and the company has sold over two million cases while breaking the billion-dollar mark in net worth. In a recent chat, Johnson said he envisioned a “splashy deal” when asked about his exit plan regarding the spirit brand.
Speaking to Carl Quintanilla on CNBC’s Squawk on the Street recently, Johnson answered a question about his tequila brand. When the host asked him about his exit plan, now that his brand has become famous, the $850 million Hollywood superstar joked that he could sell it and retire.
“…it would sound great, that’s a splashy deal, hey billions of dollars and let’s all go to Hawaii and just hang out for the rest of our lives,” the 51-year-old said.
However, The Rock said he had no plans of selling the company, adding that he was in it for the long haul. “But right now, no, there is no exit plans. Because, as I had said before, years ago when I spoke to you, I created Teremana to be a legacy brand and I’m a long gamer. I’m in it for the long haul.”
In April, the millionaire wrestler-turned-movie star took to social media to share Teremana’s historic feat. He informed that the company had sold over a million cases in 2022, making it the “fastest spirit in U.S. HISTORY to reach this milestone.”
Johnson told CNBC that his plan involves making Teremana into a global brand. “…the goal is to continue to create experiences here domestically with our US consumers, but also really internationalize the brand and become the very first true international tequila brand in the marketplace. That’s gonna take a lot of time.”
Apart from this, there may be another important reason for Johnson to not let go of Teremana.
Dwayne Johnson inching closer to billion-dollar club
The People’s Champ first made a name for himself in the WWE. However, at the peak of stardom, he ditched his wrestling career for pastures in Hollywood. Over the course of 20 years, Johnson’s purse has swelled significantly.
via Imago
At one point in time, he was left with just $7 dollars in the bank. Today, the 51-year-old’s net worth is inching closer to $1 billion, and the money is not from Hollywood alone. Johnson owns 30 percent of Teremana tequila.
The spirit brand is estimated to be worth around $3.5 billion. A big chunk of his income is generated from its sales. Johnson is unlikely to sell his proverbial golden goose, given the proven growth of Teremana.
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Apart from that, he told CNBC about his family’s historical ties with tequila, stating, “This is a family business, it’s a legacy business and this is a long game business for me with Teremana tequila.”
So, what do you think about Dwayne Johnson’s plans? Let us know in the comments.
Source: essentiallysports.com
