Snoop might be getting on board the MJTK wagon. Big money and celebs buying into the MJ Sector
November 7th, 2017
Snoop Dogg is not shy about his love of marijuana.
And while his claim to fame is music, not plants, it's actually marijuana that's likely to net him more money than he ever made in the music business.
This is a pretty big deal when you consider his net worth — most of which is the result of his music career — comes in around $135 million.
But today, Snoop is not just a musician — he's an exceptionally gifted entrepreneur. And a sizable portion of his investment dollars is being funneled into incredibly profitable legal marijuana ventures. He even ponied up $25 million to launch his own fund focused on the legal marijuana market.
Of course, this should come as no surprise. After all, Snoop isn't the only celebrity millionaire betting big on marijuana. Guys like former Facebook president Sean Parker, PayPal co-founder Peter Thiel, and even billionaire George Soros have all staked their claim to the legal marijuana market. And with good reason.
You see, the truth is, marijuana is considered to be the largest cash crop in the United States.
Enjoying a growth rate of 77% over the last few years and an estimated 700% growth rate by 2018, it's bigger than corn, bigger than cotton, and bigger than wheat.
In fact, according to UN data, it's valued at about $142 billion.
To put that in perspective, the global coffee market — one of the most valuable commodities on the planet — is valued at about $80 billion per year.
The bottom line is that marijuana is no longer the underground drug that can only be bought on street corners from criminals. It's now a viable industry that's making investors an absolute fortune.
AI
