Kobe Bryant Missed $23 Million Deal Due to Bad Advice, Darren Rovell Reveals

NBA legend Kobe Bryant narrowly missed out on a $23 million profit due to unfavorable financial advice, as detailed by sports media personality Darren Rovell. The incident, which occurred around 2012, involved an investment opportunity in KRAVE Beef Jerky.

Rovell, appearing on OutKick's "The Craig Carton Show," recounted how Bryant approached him at media day, expressing interest in exploring business ventures together. This led to a unique partnership where Bryant would text Rovell at all hours with business ideas. "3 a.m., 2 a.m., every time. Every time I responded, even though he was in L.A., there was the dot, dot, dot back. He's awake... same cycling brain, same everything," Rovell shared.

One pivotal moment arose when Rovell pitched an $8 million investment for a 10% stake in KRAVE Beef Jerky at an $80 million valuation. Bryant was prepared to invest, but his financial advisor convinced him to forgo the deal. Just six months later, the company was acquired by Hershey for $291 million. This missed opportunity cost Bryant approximately $23 million.

Despite this setback, Bryant's entrepreneurial spirit remained undeterred. He expressed confidence in Rovell's business acumen, famously offering to deposit $10 million into Rovell's account without any questions, asking, "What are we going into?"

This trust led to their subsequent successful investment in BodyArmor. Bryant invested heavily in the sports drink startup, which eventually resulted in a substantial $444 million return when Coca-Cola purchased the company. This venture solidified Bryant's reputation as a shrewd investor and entrepreneur.