Kayla Itsines was ‘the big winner’ from the $400million sale of her fitness empire Sweat – making THREE times as much as her ex-fiancé and business partner Tobi Pearce
Kayla Itsines received the lion’s share of the AU$400million sale of her fitness empire Sweat, getting three times as much as her business partner Tobi Pearce.
The entrepreneur, 30, ‘was the big winner from the sale’ because she owned a larger share of the business than co-founder Pearce, who is also her ex-fiancé.
Itsines is said to have earned US$225million (AU$300million) following the sale of Sweat to an American software giant, reports The Australian.
By contrast, 29-year-old Pearce made US$75million (AU$100million) from the sale.
Cleaning up: Kayla Itsines was ‘the big winner’ from the $400million sale of her fitness empire Sweat – making THREE times as much as her ex-fiancé and business partner Tobi Pearce
Kayla confirmed her split from Tobi, who is her daughter Arna’s father, in August last year.
The former couple, who were together for eight years, co-founded the Bikini Body Training Company – later renamed Sweat – after meeting in late 2012.
Bigger share: According to The Australian, Kayla ‘appears to effectively control three-quarters of the enterprise,’ which equals a total of $225million (US) profit, or $300million (AUD)
The business partners sold their health and fitness empire for $400million, according to The Courier Mail on Tuesday.
The company was bought by U.S. software giant iFIT Health & Fitness Inc.
In 2020, the Sweat app generated a staggering $99.5million in revenue, with the majority of sales coming from the American market.
Selling up: The business partners sold their health and fitness empire for $400million, according to The Courier Mail on Tuesday
Despite the company changing hands, the young millionaires will continue to manage the business from its headquarters in Adelaide.
Tobi previously told The Australian they remain committed to leading the brand from Australia.
‘Kayla and I have had a very strong and long working relationship and this is the beginning of chapter two for both of us,’ he said.
‘I’m very much looking forward to a bigger and better Sweat – our headquarters will remain in Adelaide and we have a second office in Melbourne and that will reman there as well,’ he added.
Raking it in: Kayla and Tobi were ranked joint fifth on the Australian Financial Review’s Young Rich List for 2018, making them the wealthiest self-made twentysomethings in Australia
Kayla and Tobi were ranked joint fifth on the Australian Financial Review’s Young Rich List for 2018, making them the wealthiest self-made twentysomethings in Australia.
That year, Forbes estimated the then-couple’s shared net worth to be $696million.
The Sweat fitness program helps people transform their bodies and achieve dramatic weight loss at the gym or from home.
At the time of their separation last year, Kayla said in a statement that she and Tobi would remain friends and business partners.
Kayla is now dating a man known as Mitch G.
Mitch and Kayla have been dating for several months, but the notoriously private businesswoman has yet to comment on the relationship.
Transforming lives: The Sweat fitness program helps people transform their bodies and achieve dramatic weight loss at the gym or from home