Smith, who is believed to be worth $31million, has made a staggering money in return by investing in an online mattress company.
Having invested Aus $100,000 in an online mattress company, Koala in 2015, Steve Smith’s fortune has made him a millionaire, as his stake in the firm is now worth a whopping Aus $12.1 million.
It was back in 2015 that the Australian batsman had invested 10 per cent share in the retailers, which made him the ambassador of the brand. And now that the company has grown leaps and bounds, having more than 200,000 customers and a valuation of Aus $150 million, Smith has managed to make staggering money in return, which almost makes up for the loss he endured during his ban following the ball-tampering scandal.
“I remember telling his manager and his parents that could happen when he invested,” Koala co-founder Mitch Taylor told The Sydney Morning Herald.
Koala was founded by Mitch Taylor and Danny Milham in 2015, and the company earned somehow managed to make $1million within 80 days. Over a period of last year, the company recorded a revenue of $73million.
As per the sources, the 30-year-old earns somewhere around Aus $2 million as an Australian cricketer, while his Indian T20 League contract with team Rajasthan brings him a similar amount. And as far as his loses are concerned (during the ban), it is expected that he lost somewhere around Aus $7 million over the course of a year.
According to the Australian Financial Review's Young Rich List, Smith is believed to be worth $31million.
All those losses, including a degrade in his stature, has been put aside after the 30-year-old put down an impressive showing at the recently concluded World Cup. And he followed it up by scoring two centuries against England in the first Ashes Test at Edgbaston.
Feature image courtesy: AFP / Lindsey Parnaby