Kevin Plank: A Billionaire with Diversified Holdings

As an American Billionaire and philanthropist, Kevin Plank at the age of 47, is the chairman of Under Armor, he became a manufacturer of sportswear, footwear, and accessories out of Baltimore, Maryland. He was the youngest of five brothers. His father was a Maryland land developer and his mother was a former mayor of Kensington and directed the Office of Legislative and Governmental Affairs at the United States Department of State during the Reagan Administration. Kevin Plank was a former University of Maryland football player and founder of CEO and Chairman of the Board for Under Amour. Under Armor has a Connected Fitness platform that powers the world’s largest iPhone driven health and fitness community through products such as MyFitnessPal, UA Record, MapMyFitness, and Endomondo.

More information about Kevin Plank’s profile at Forbes.

Kevin Plank believes in giving back and showing gratitude. As a graduate of the University of Maryland in College Park, he’d earned his bachelor’s degree in business administration, graduating in 1996. His roommate in Maryland was professional wrestler and football player Darren Drozdov, who was injured in a 1999 in-ring accident, and became quadriplegic and Plank helped finance his wheelchair. Kevin Planks’ first business was Cupid’s Valentine, which he started at the University of Maryland, selling roses on Valentine’s Day. He earned $3,000, which Kevin Plank needed as seed money. He had a business idea about using a synthetic cloth to protect athletes from sweat.

He went so far as to say that his product would help athletes on the field. In 1996, he had sold $17,000 t-shirts. An ESPN ad resulted in $1 million of direct sales the next year because athletes and teams both began buying the clothing. It was not until 2010 that Plank’s net worth reaches $1 billion annual revenue, while Plank became a billionaire in 2011 when his network became $1.05 billion.  Watch: https://www.cnbc.com/video/2019/04/15/watch-cnbcs-exclusive-interview-with-under-armour-ceo-kevin-plank.html

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