Ryan Reynolds has signed his first $1 billion contract.
In a $1.3 billion deal, Ryan Reynolds‘ Mint Mobile is sold to T-Mobile.
By Oculus Network
Reynolds is a minority owner of the cellphone company Mint Mobile, which has been acquired by T-Mobile in a deal that could be worth $1.35 billion (the actual payout will depend on the performance of the brands before and after the deal closes). 39 percent of the price will be paid in cash, and 61 percent in T-Mobile stock.
It’s unclear how much Reynolds will personally receive from the deal, but given that he reportedly owns between 20 and 25 percent of Mint Mobile, a low nine-figure salary seems likely.
Reynolds said in a statement on Wednesday that “Mint Mobile is the finest offer in wireless and today’s news only increases our ability to deliver for our customers. We are thrilled that T-Mobile outbid my mom Tammy Reynolds’ strong last-minute offer since we think the strength of their 5G network will be a better strategic fit than my mom’s marginally above-average mahjong prowess. I am extremely happy for the future and so proud of the entire Mint team.
Together with Mint, T-Mobile is also acquiring Plum, a wireless wholesaler, and Ultra Mobile, which aims to give users options for making international calls. Ka’ena Corp owned all three businesses, and its co-founders Rizwan Kassim and David Glickman will continue to lead it as a separate business entity.
According to the terms of the agreement, Reynolds will continue to serve Mint in his creative capacity. The actor has frequently been seen in wireless brand advertisements, which highlight his unique sense of humour.
T-Mobile CEO Mike Sievert expressed his desire to apply that strategy across the board in a statement.
Long-term, we’ll also profit from using the marketing strategy for which Mint has grown to be known throughout other areas of T-Mobile, he added. “We believe that clients will benefit much from a more aggressive and comprehensive Mint and Ultra.”
Reynolds has experience in the business world in addition to performing. In a $600 million deal in 2020, he sold Diageo his Aviation Gin brand.