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Smith earns around Rs 60cr courtesy 2005 investment

Smith earns around Rs 60cr courtesy 2005 investment

Melbourne, Aug 15 (IANS) Former Australia captain Steve Smith has not only made a remarkable comeback to Test cricket scoring twin centuries in the first Ashes Test to lead his side to an emphatic 251-run win over England in Birmingham, but has also had a windfall of sorts off the field.

According to a report in news.com.au, the 30-year-old has turned an investment of $100,000 in mattress retailer Koala Mattress, into a windfall of $12.1 million.

The report quoted The Australian Financial Review (AFR) according to which the company, in which Smith dropped the investment for 10 per cent in July 2015, has build a customer base of 200,000 and is valued at $150 million.

 

"I remember telling his manager and his parents that could happen when he invested," Koala co-founder Mitch Taylor said.

Smith, who is also Koala's brand ambassador, has earned more from his investment in the company than from cricket altogether.

The AFR's Young Rich List is set to value Smith at about $31 million when the list is released in October.

Smith, who was banned for an year for his involvement in the Sandpaper Gate fiasco, has met with success both on and off the field.

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Smith earns around Rs 60cr courtesy 2005 investment

About Gopi Adusumilli

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc. He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources. When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any. He can be reached at gopi@socialnews.xyz

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