Matthew McConaughey Adds Sports Media Platform 'The Athletic' to His Growing Business Portfolio
And yet another significant investment from the Oscar-winning actor Matthew McConaughey actor!
The $95 million rich 'Interstellar' actor, Matthew McConaughey, is as insatiable and resilient as they come when it's about his career, be it acting or business. Even with an Oscar and multiple critically acclaimed movies, the actors still claims that he's not satisfied with his professional success.
Matthew McConaughey won the Oscars for 'Dallas Buyers Club'.
In recent years, Matthew's association with the business world has grown with several noteworthy investments. The 50 years old star made the headlines again on January 23, 2020, when he supplemented one more commercial venture to his ever-growing business portfolio. The 'Dazed and Confused' actor invested $50 million on a subscription-based sports media platformed The Athletic through financing round.
Adam Hansmann (left) and Alex Mather (right), co-founders of The Athletic.
As reported by Fox Business, Matthew participated in the company’s Series D funding round. Series D is generally the fifth round of investments, following a seed-stage investment, and then series A through C. Series D usually indicates that the company has strong foundations and needs added capital investment for accelerated expansion.
The Oscar winner for 'Dallas Buyers Club' made the contribution through Plus Capital, a California-based venture capital firm that links celebrity influencers to startups. With the $50 million funding from the father of three kids, The Athletic managed to raise a total of $139.5 million from outside investors since its launch in 2016 and holds the rough value of a whopping $500 million after Matthew's contribution.
Matthew McConaughey invested $50 million in The Athletic.
McConaughey invested alongside Silicon Valley billionaire Peter Thiel’s Founders Fund, a San Francisco-based venture capital firm that specializes in technology, and Bedrock Capital, a venture capital firm that specializes in early-stage investments. Back in August 2019, Camila's husband also acquired an ownership stake in FC Austin, an expansion franchise from Major League Soccer based in Austin, Texas which is set to compete in 2021.
Matthew McConaughey acquired an ownership stake in FC Austin in August 2019.
Source: The Austin Chronicle
Matthew commented about his investment in the football club and said,
This is about legacy for me. I’m at a time in my life where I don’t want to spend time and money on things that I don’t look forward to doing on Monday morning.
The professor of practice at the University of Texas’ Moody College of Communications also holds numerous brand endorsement deals. The poster boy of Wild Turkey bourbon whiskey also went fishing in an advertisement for the new Lincoln Aviator back in December of last year.
Investments in Series D ever rarely goes wrong, so we can only assume that the father of three, Matthew isn't going to regret this financial choice.