Steve Smith Turns $100,000 Investment In Mattress Company Into Staggering $12MILLION
Things have just started to fall in place for Australia star Steve Smith. Days after a fairytale comeback to Test cricket, Steve Smith has another reason to smile. The former Australia skipper has turned an investment in a little-known mattress company into a huge financial windfall. The huge financial gain pretty much makes up for the fortune he lost due to the ball-tampering scandal.
The 30-year old had invested $1,00,000 in online mattress retailer Koala in 2015 – and his stake is now worth a staggering $12.1million. Through Smith’s 10 per cent share in the start-up, he became the ambassador for the once unheard-of brand. The brand’s value has grown by leaps and bounds and it now has more than 2,00,000 customers.
“I remember telling his manager and his parents that could happen when he invested,” Koala co-founder Mitch Taylor told The Sydney Morning Herald.
Smith will be delighted with the financial windfall after losing a major chunk of earnings due to the ban for the ball-tampering scandal. Cricket Australia had banned Smith for a year in the wake of the scandal. The ban ended in March this year. As per reports, the ban cost him $5million. Smith has since been revealed to be worth $31million, according to the Australian Financial Review’s Young Rich List.
Smith, meanwhile, has hit the ground running in Test cricket. After helping Australia make it to the semifinal of this year’s World Cup, he helped his team win the first Ashes Test in Birmingham. Smith scored centuries in both the innings of the Test as Australia crushed England by 251 runs to take the lead in the five-match series.
Smith will now be looking to make the most of his form and guide Australia to a series win in England. Australia have not won the Ashes in England since 2002.