Steve Smith turns $100,000 investment in a mattress company into a whopping $12MILLION – more than double the financial hit he took from the ball-tampering scandal
- Steve Smith has made a $12.1million after investing $100,000 in Koala Mattress
- He invested 10 per cent share in the retailer in 2015 and became the ambassador
- Koala was founded in November 2015 and now has more than 200,00 customers
Australian cricket star, Steve Smith, has made more money than he has in his career, after investing in an unknown mattress company.
Steve Smith, 30, made a $100,000 investment in online mattress retailer Koala in 2015, which 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, which now has more than 200,000 customers.
Steve Smith, (pictured with wife Dani Wilis) made a $100,000 investment in online mattress retailer Koala in 2015, which is now worth a staggering $12.1million
‘I remember telling his manager and his parents that could happen when he invested,’ Koala co-founder Mitch Taylor told The Sydney Morning Herald.
The cricketer’s investment is expected to make up for lost endorsement deals in the wake of the ball tampering scandal in March 2018 – a setback widely reported to have cost him $5million.
The star batsman copped a one-year ban from international and domestic cricket after he was found to be involved in the scandal that saw Cameron Bancroft using sandpaper to rough up a side of the ball during a Test against South Africa.
Smith, who recently scored a double century in the Ashes series, has also signed a $2million contract with the Rajasthan Royals in the Indian Premier League.
Koala was co-founded by Mitch Taylor (pictured left) and Danny Milham (right) during 2015
Smith, who was stripped of his captaincy after the ball tampering came to light, has since been revealed to be worth $31million, according to the Young Rich List.
Koala, famous for delivering mattresses in a box, has now become a household name raking in $73million in revenue over the last year.
The company, founded by Mitch Taylor and Danny Milham was launched in November 2015, earning a huge $1million in just 80 days.
Mr Milham said the value of Smith’s investment would go towards broadening their brand in Japan.
‘That EBIT will be invested straight into developing new products and Japan,’ he said, after Koala was taking a 100 per cent year on year growth in the country.
After the Australian cricker invested a 10 per cent share into the company, he has now made more than double what the notorious ball-tampering scandal cost him