Marijuana is not only becoming legal across the country, bringing in millions in revenue for the state treasuries – it’s also becoming a big business beyond the local growers, manufacturers, and retail dispensaries. There’s no question that there is money to be made in marijuana, but leave it to celebrities to take that business opportunity into full-fledged enterprises! So let’s get our weed mogul ‘on’ and take a look at some of the big names that are cashing in on one of the hottest industries in the US!
Coming in at the top of our list is Snoop Dogg. I mean, seriously … How could we leave Snoop off the list?! Unless you’ve been living under a rock for the past few decades, everyone knows Snoop is a connoisseur of weed and has even started his own brand of marijuana products – Leaf by Snoop, launched in Colorado in 2015.
But did you know that Snoop is also co-founder of a very successful cannabis investment firm? Casa Verde Capital recently raised more than $70 million to put towards brands now included in their portfolio – Metrc, Leaflink, Leaf by Snoop, and the online publication Merry Jane. This firm is specifically funding cannabis-related ventures across the country. They recently invested almost $10 million into a sleeping aid to help with ‘corona-somnia’ that includes supplements and even sleep coaching. We love Snoop Dogg’s dedication not only to weed and the money to be made in it, but his dedication to actually helping people out where and when they/we need it.
Another celeb who’s not much of a surprise, Tommy Chong is next on our list of cannabis business titans making a name for themselves in weed. Who doesn’t love the ‘Cheech & Chong’ movies from back in the day? Two hilarious stoners getting into crazy situations while stoned – and usually just after spilling out of a smoke-filled vehicle. And it’s no surprise that in real-life Tommy Chong partakes in ganja. But after battling cancer in 2012 and relying heavily on cannabis to aid in his treatment and recovery, Chong went from being just a long-time user and supporter to embracing and advocating big business in weed.
In 2016 he launched the ‘Tommy’s Choice’ brand that brings together ‘only the best’ weed growers and manufacturers, is available in dispensaries across the country. At 82 and still going strong, he recently teamed back up with his stoner buddy, Cheech Marin, to talk about his career, weed usage and business on Doug Benson’s internet show, ‘Getting Doug with High‘. (Yes, you read that correctly!)
Need a reclaimed-wood themed outdoor wedding? Want to learn 10 exciting ways to fold your stressed linen table napkins? Then you know Martha Stewart is the woman to turn to. But CBD products for me and my pet? You don’t immediately think of the lifestyle author and guru for cannabis-based products. But, yes even Martha Stewart is blazing her own trail in the marijuana business. The Canadian-based company, Canopy Growth, offers a line of CBD oils, gummies and supplements for people and pets that are currently available through her website.
It’s reputed that Snoop Dogg was a major influence on her latest business venture; it’s well known that she and Snoop are very good – if not unlikely! – friends and that they share many things in common including ‘a little smoke’, so this could very well be more than just a rumor.
Always a trailblazer and renegade, Megan Rapinoe is putting her name and célébrité to a new line of CBD products developed specifically for athletes. Her sister, Rachel, herself is an elite athlete and was the first of the two on the mission to more effective and more natural treatments for athletes. Their joint (no pun intended, hehe) venture is Mendi, a CBD based product line that aims to help athletes and their wellness journey, but also to help lift the stigma around cannabis-based wellness products in the world of sports. It’s also no surprise given the soccer star’s advocacy for gender, pay, and minority equality that she and her sister infuse this culture into their business venture. This pledge goes beyond their own brand as the two sisters strive to only work with growers, supplies, and partners who also embrace a workplace and society culture of inclusivity. Way to go, Megan and Rachel!
We’re pretty sure that Ms. Handles is on many lists of well-known celebrities who are big stoners. And now she’s teaming up with cannabis companies, including Sweet Flower, to create the Evolution Kit that is a hand-picked collection of her favorite cannabis products. The release of this kit through the Los Angeles chain of dispensaries coincided with her HBO comedy special, ‘Chelsea Handler: Evolution’ in the fall of 2020. This kit must have been a great success because the company and comedienne now have another kit available, ‘Chelsea Handler’s America is Back’ kit – which is undoubtedly a nod to the new administration that is taking over from the previous one which she was a very outspoken opponent of.
No post about anything ‘mogul’ would be complete without the OG mogul himself, Jay Z. It seems that everything Jay Z touches turns to gold – make that platinum! – and his ventures into the cannabis business will likely be no different. In December 2020, Jay Z launched his line of high-end cannabis products under the name, Monogram. The brand takes high-quality strains grown indoors and turns them into top-notch marijuana products that include hand-rolled joints, aptly named ‘OG Joints’.
Much like Snoop Dogg, Jay Z is also becoming a cannabis capital venturist, with his ‘Social Equity Ventures’ company focused on helping minority-owned marijuana businesses get off the ground. We’re sure Jay-Z’s Monogram will turn to platinum and we certainly hope his capital funding ventures go in the same direction.
There is little doubt that the cannabis business is becoming extremely lucrative – and it’s ‘high time’ too! (Sorry, we couldn’t help it!) With many celebrities getting into the weed biznaz recently, it not only will bring marijuana ever further into the mainstream but with celebrity-backed capital ventures, we’ll be seeing more and more everyday people having access to money that is specifically raised for cannabis businesses. Not only that, the more big names behind cannabis and the more success we hear, the more the federal government will want to also get on the bandwagon. It’s a great time to be in the cannabis business and an even better time for cannabis users!