- Multimillionaire musician Nick Jonas is a serial investor. You may know him for the Jonas Brothers, Jumanji: The Next Level, or his stint on Les Misérables, but behind the scenes he’s also made a pretty penny from investing in brands like Olipop and Magic Spoon. Now, he reveals to Fortune that he won’t partner with a brand that has a “manufactured” story, as well as his other investment red and green flags.
Popstar Nick Jonas has worn many hats: the heartthrob of the Jonas Brothers, a soft-hearted adventurer on Jumanji: The Next Level, and broadway star from Les Misérables to The Last Five Years. He’s built a multimillion entertainment dynasty, but it doesn’t stop there—Jonas is also a savvy investor with high standards.
“[Investing] is always a collaboration,” Jonas tells Fortune. “There’s an importance to that aspect of trusting the people you’re working with.”
The youngest brother in the Jonas band trio has been growing his estimated $80 million empire for years by investing across fashion, food, and technology. Just four years ago, his net worth reportedly sat at around $50 million in 2021. In that time, Jonas has invested in Olipop, Perfect Moment, True Food Kitchen, and Magic Spoon.
The 32-year-old got behind the $1.85 billion cult-favorite soda line Olipop in 2022, partaking in a $30 million Series B funding round with Camila Cabello, Mindy Kaling, and Gwyneth Paltrow. That same year he also partnered with the viral keto-friendly cereal brand Magic Spoon alongside Shakira, Russell Westbrook, and Odell Beckham Jr. as part of a $85 million fundraising series. Jonas’ other investments include food and drink brands like Saucey, Snackpass, and Innerchef; fashion label Perfect Moment; and tech companies including Ember and Mercury.
While Jonas has an incredibly diverse investment portfolio, not every business catches his eye and makes the cut. When it comes to choosing where to invest his money, the entertainment mogul looks at the people at the heart of the operation, and for a company story that captures his attention.
Jonas declined to confirm his net worth to Fortune.
Why Jonas won’t buy in without a convincing story
As an investor, you’re not just backing a great business idea or product—but also the person who came up with it. It’s why Jonas says founders have to have convincing backstories for him to invest. If he catches a whiff of anything phony, he slams his wallet shut.
“I…
Click Here to Read the Full Original Article at Fortune | FORTUNE…
