Cannabis investors are not just large corporations, small entrepreneurs and business, but celebrities are also coming on board and delving into the cannabis industry.
Even though, marijuana is legalized in more states than in the past, the future of this plant is still ambiguous since the federal government sees it as a dangerous drug and illegal. This means that the state laws will not supersede the federal law in any case. However, while it is risky, cannabis investors are embracing it anyway and many are seeing abundant profits.
Last year alone, the cannabis industry legally made $6.9 billion and it is predicted that in 2021, it could go up to $21.6 billion. That is how fast the marijuana industry is growing. In the state of Washington along, it is forecasted that the annual sales could amount to $270 million. Oregon may generate tax revenue of $60 million and Alaska is forecasted to make a whopping $19.2 million in marijuana taxes each year. So, you see the potential as many cannabis investors do. Let's look at these celebrity cannabis investors.
Dick Wolf—Law and Order Television Show Creator
In 2014, Dick Wolf made an investment of $1.5 million in a cannabis testing lab owned and operated by the company, DigiPath. As the market is emerging, there are many celebrities also becoming similar cannabis investors.
Oscar Robertson—Past NBA Player
Oscar Robertson is a former professional NBA player is an advocate for medical cannabis. He is also one of the cannabis investors that have been a staunch supporter for the marijuana legalization in the state of Ohio during the ballot initiative in 2015. Robertson explained that his motives for investing were to help provide treatment for chronically ill patients. He has had loved ones experiencing terminal illness and so he thinks that medical cannabis can provide a relief to them.
Frostee Rucker – An NFL Player
NFL Player, Frostee Rucker plays for the Arizona Cardinals as a defensive end. While he is committed to playing football for his team, he is also fully committed as one of the cannabis investors supporting Issue 3 ballot initiative in the state of Ohio. By exposing Bill Foster to the powerful effects of marijuana, Frostee was able to be convincing. Bill Foster owns A1QLS, a logistics company with multimillion dollar profit potential.
Roseanne Barr— Television Actress and Comedian
Roseanne Barr is known as a popular comedian and TV actress. She became one of the cannabis investors in 2016. Roseanne is also an advocate of medical marijuana and had plans of opening a dispensary in the city of Santa Ana, California. She was going to call it Roseanne's Joint Barr, but it never came to realization. Roseanne also uses medical cannabis herself and knows the therapeutic benefits that it offers. She used medical cannabis to treat her macular degeneration and glaucoma illnesses.
Cliff Robinson—Past NBA Player
Cliff Robinson was a professional NBA player with the Portland Trail Blazer. He opened up a marijuana grow operation in Oregon recently. Robinson feels that medical cannabis is the best substitute for pharmaceutical drugs and will continue to be one of the cannabis investors that blaze the trail inside the cannabis industry.
Whoopi Goldberg— Comedian, Talk Show Host and Actress
Whoopi Goldberg is also one of the cannabis investors that are not ashamed of supporting the cause and the industry. She has created a line of cannabis products from her company, Whoopi & Maya Synergy. The products are specifically focused to help women with menstrual discomfort.
Actor Woody Harrelson
Woody Harrelson is a well-known actor and he was one of the cannabis investors that put in an application to open up a marijuana dispensary in the state of Hawaii. However, his application was rejected and it is not known if he will fight to get a license. He will still continue to be an advocate and supporter for marijuana.