Entertainment

Famous businessman of The Hollywood Reporter 2022 – The Hollywood Reporter

By the middle of the last decade, Kevin Hart had climbed the highest comedy mountain he could, reliably filling arenas, releasing top-rated Netflix specials, and creating great shows. No. 1 hit movie like In another hand and Along. But for Hart, becoming rich and famous is just the first step to becoming richer.

Today’s star is a commodity, easier to make money than ever, and few have figured out how to use it more effectively than Hart, who in parallel with his comedy career has built a diverse business empire from movies and TV to health and fitness, consumer packaged goods, spirits, sportswear, financial technology and biotechnology. Seems like every A-list star has a production company, lots of brands (interested in Nespresso?), a select few who have built their own successful brands (Casamigos, anyone? ?) fund. What sets Hart apart from other entertainers is not only the fact that he does all of the above, but also the speed at which he realizes his ambitions: No one can claim that he did it. have a more fulfilling 2022.

Regardless of your demographic profile, it’s unlikely that you’ve never seen Hart in an ad targeted at you. He’s signed partnerships with many brands, including Sam’s Club and DraftKings, and continues to do commercials for JPMorgan Chase, all of which he loves so much. “It’s easy for me to hold on [these brands] and embed them in my day,” Hart said. “It was never a stretch.”

He’s even more excited about the consumer product companies he currently has a stake in. In the fitness arena, they include the Hydrow rowing machine, of which he is an investor and creative director, and Fabletics. In 2020, Hart launches the Fabletics Men line, which released its third activewear collection in January. “The success around the brand is tied to my success because not only do I love the product, I believe the world will love it too,” says Hart. “So having Fabletics every day, all day, it’s not a chore. It’s a must, isn’t it?”

Kevin Hart - Men's Fables

Kevin Hart in Fabletics Men costume.

Courtesy of Fabletics

In May, Hart introduced his premium tequila, Gran Coramino, which pitted him against Dwayne Johnson’s own friend and frequent co-star Teremana brand. Hart had been approached by brands over the years but didn’t pull the trigger until he met 11th-generation tequila maker Juan Domingo Beckmann, who custom crafted Hart an ultra-filtered cristalino ($59). ) and a newly launched añejo. ($113).

Then, in August, Hart opened the first location of Hart House, his plant-based fast food chain, in the Westchester neighborhood of Los Angeles. The comedian switched to a flexible diet (mostly plant-based, some chicken) after years of “smashing red meat non-stop” on the road and seeing “many people in his house fall into pain.” heart disease, high blood pressure, stroke” as a result of poor nutrition. Hart’s idea was to introduce the benefits of a plant-centered diet to communities with such few options.

Star at Hart House in the Westchester area of ​​LA.  This plant-based restaurant also has a location in Monrovia, California, with a third diner on its way to Hollywood.

Star at Hart House in the Westchester area of ​​LA. This plant-based restaurant also has a location in Monrovia, California, with a third diner on its way to Hollywood.

Courtesy of the subject

For good measure, in the spring, Hart founded his new media production company, Hartbeat, attracting a $100 million investment from private equity firm Abry Partners.

According to Thai Randolph, Hartbeat’s CEO, Hart’s year of great success is a direct result of a four-day full brainstorming process at the Montage Hotel in Cabo in mid-2021. Hart has dispatched 60 employees members came down to lift morale at the height of the pandemic, but the retreat turned out to be “a call to action across this ecosystem for us to dream bigger, to collaborate in bolder ways.” and rethink the possibilities of what could happen. happen,” Randolph said.

Hart had a good trading eye before he became a household name. He self-funded some of his original specials, spending $750,000 to produce and release his 2011 special. Laugh at my pain in theaters, grossing over $7 million. That success only strengthened Hart’s entrepreneurial ambitions. “I was not the entrepreneur I am today,” Hart said. “Initially, I didn’t know anything. I’m a sponge and I absorb a lot of information when I’m around people who are doing the things I want to do.”

Kevin Hart - Thuy

Kevin Hart in a campaign image for the Hydrow rowing machine.

Courtesy of Hydrow

Robert Roman, an asset manager who met Hart at a summit a few years later, recalls that from that moment, it was clear that Hart “wanted to be a tycoon.” He and Hart got along well, and today Roman oversees Hart Ventures, the entertainer’s venture capital arm, which has minority stakes in dozens of companies that match his interests and values. Hart, which includes streetwear brand Mitchell & Ness, vegan food company BeyondMeat, and social food-ordering platform Snackpass. In October, Hartbeat Ventures announced its first institutional investment, from JP Morgan.

Hart rarely spends more than a few months at home in Los Angeles, but when he does, he’s at the Encino office every day. Randolph admits the comedian couldn’t resist making outlandish jokes during meetings. “But, surprisingly,” she said, “the one thing that was no joke to him was money and bottom line.”

This story first appeared in the November 21 issue of The Hollywood Reporter. Click here to sign up.




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