Kevin Plank Net Worth

Kevin Plank Net Worth

Business / By / August 15, 2023

Kevin Plank is Under Armour’s primary owner and founder, of which he’s also chairman. His stake in the company is worth over a billion dollars at current market value, making him a billionaire.

Key Highlights

  • Inception of Under Armour:
    • Founded Under Armour in 1996.
    • Started from his grandmother’s basement in Washington, D.C.
    • Identified the need for high-performance athletic apparel with moisture-wicking technology.
  • Entrepreneurial Vision:
    • Pioneered moisture-wicking fabric technology for athletic apparel.
    • Created products designed to enhance athletic performance and comfort.
    • Focused on catering to athletes’ needs and demands.
  • Brand Growth and Popularity:
    • Grew Under Armour’s popularity among athletes and fitness enthusiasts.
    • Expanded product offerings to include clothing, footwear, and accessories.
    • Established the brand as a symbol of innovation and dedication to athletes.
  • Leadership and Innovation:
    • Guided Under Armour through various growth phases.
    • Fostered a culture of innovation and hard work within the company.
    • Led the development of cutting-edge athletic gear.
  • Strategic Partnerships and Sponsorships:
    • Forged strategic partnerships with athletes and sports teams.
    • Collaborated with professional athletes to design performance gear.
    • Enhanced brand visibility through high-profile sponsorships.
  • Initial Public Offering (IPO):
    • Took Under Armour public with an IPO in 2005.
    • Used resources from the IPO for further expansion and development.
    • Marked a significant milestone in the company’s history.
  • Personal Financial Accomplishments:
    • Accumulated ownership stake in Under Armour.
    • Ownership stake valued at over a billion dollars, making him a billionaire.
    • Highlighted his role in the company’s financial success.
  • Legacy and Impact:
    • Solidified Under Armour’s position as a major player in the sportswear industry.
    • Demonstrated the power of entrepreneurial vision and innovation.
    • Elevated Plank’s status as a successful entrepreneur and business leader.

Related Visual Stories

Under Armour Revenue

under-armour-revenue
In 2021, the company’s net revenues increased to $5.68 billion, up from $4.47 billion in 2020, representing a 27% growth. The net revenues in 2021 were higher than the net revenues in 2019, which were $5.27 billion, representing an 8% growth compared to 2021. The decrease in net revenues from 2019 to 2020 was approximately 15%.

Under Armour Profitability

under-armour-profits
In 2019, the company reported a net income of $0.09 billion. In 2020, the company had a net loss of $0.55 billion. In 2021, the company’s net income was $0.36 billion.

Under Armour Revenue By Channel

under-armour-revenue-by channel
In 2021, wholesale accounted for 57% of the company’s financial data. Licensing represented a smaller portion, contributing 2% to the financial data. Direct-to-consumer sales made up a significant share, comprising 41% of the financial data in 2021.

Under Armour Revenue By Product

under-armour-revenue-by-product
Apparel revenue: $3.47 billion in 2019, $2.88 billion in 2020, and $3.84 billion in 2021. Apparel has been the largest revenue contributor in each year. Footwear revenue: $1.09 billion in 2019, $0.93 billion in 2020, and $1.26 billion in 2021. Footwear revenue showed a decline in 2020 but rebounded in 2021. Accessories revenue: $0.42 billion in 2019, $0.41 billion in 2020, and $0.46 billion in 2021. Accessories revenue remained relatively stable throughout the period. License revenues: $0.14 billion in 2019, $0.11 billion in 2020, and $0.11 billion in 2021. License revenues experienced a decline from 2019 to 2020 but remained stable in 2021. Corporate Other revenue: $0.16 billion in 2019, $0.14 billion in 2020, and $0.004 billion in 2021. Corporate Other revenue saw a significant decrease in 2021.

Under Armour Revenue By Geography

under-armour-revenue-by-geography
North America revenues: $3.66 billion in 2019, $2.94 billion in 2020, and $3.81 billion in 2021. EMEA revenues: $0.62 billion in 2019, $0.60 billion in 2020, and $0.84 billion in 2021. Asia-Pacific revenues: $0.64 billion in 2019, $0.63 billion in 2020, and $0.83 billion in 2021. Latin America revenues: $0.20 billion in 2019, $0.16 billion in 2020, and $0.20 billion in 2021. North America revenues: Decreased by 19.7% from 2019 to 2020, and increased by 29.4% from 2020 to 2021. EMEA revenues: Decreased by 3.2% from 2019 to 2020, and increased by 40.8% from 2020 to 2021. Asia-Pacific revenues: Decreased by 1.6% from 2019 to 2020, and increased by 32.3% from 2020 to 2021. Latin America revenues: Decreased by 20% from 2019 to 2020 and increased by 18.5% from 2020 to 2021.

Under Armour Profits By Geography

under-armour-profits-by-geography
North America operating income: Decreased by 35.3% from 2019 to 2020, and increased by 104.8% from 2020 to 2021. It contributed the most to the total operating income in each year. EMEA operating income: Increased by 12.8% from 2019 to 2020, and grew by 118.8% from 2020 to 2021. EMEA’s contribution to the total operating income increased over the years. Asia-Pacific operating income: Decreased by 100% from 2019 to 2020, and increased significantly from near-zero in 2020 to $132.91 million in 2021. The Asia-Pacific segment rebounded in 2021. Latin America operating income: Improved from -$3.16 million in 2019 to -$42.79 million in 2020, and turned positive with an increase of 152.3% to $22.39 million in 2021. Latin America’s contribution to the total operating income improved in 2021 after two years of negative operating income.

Related Ownership Case Studies

Who Owns Nike

Related Net Worth Case Studies

Elon Musk Net Worth

elon-musk-net-worth
By 2022, most of Tesla’s shares are still owned by Elon Musk, among the company’s co-founders and the CEO. Elon Musk is the top individual investor, with a 23.5% stake in the company. At current rates, this is valued at around $145-50 billion, making Elon Musk one of the wealthiest men on earth. In addition, Musk also holds a significant stake in Twitter and SpaceX, which makes him worth anywhere between $180-90 billion.

Bernard Arnault Net Worth

bernard-arnault-net-worth
Bernard Arnault’s wealth is around $203 billion. Indeed Arnault is the CEO and chairman of the luxury goods conglomerate LVMH Moรซt Hennessy Louis Vuitton, a massive luxury group that generated over โ‚ฌ79 billion in revenue ($83 billion) in 2022, spanning across wines, fashion, cosmetics, and retail. The Arnault family group owns 48.18% of the capital for LVMH with 63.9% voting power, making Bernard Arnault the principal owner and decision-maker. His stake is worth over $203 billion.

Warren Buffet Net Worth

warren-buffett-net-worth
Warren Buffett is an American investor, business tycoon, and philanthropist. Known as the “Oracle of Omaha,” Buffett is best known for his strict adherence to value investing and frugality despite his immense wealth. Warren Buffet owns an investment firm, Berkshire Hathaway. He owns 238,624 Class A shares which gives him control over the company. His stake in the company is valued at over $100 billion.

Jeff Bezos Net Worth

jeff-bezos-net-worth
Jeff Bezos’ net worth is primarily based on his ownership stake in Amazon. Indeed, as of 2023, Bezos owned a 12.7% stake in Amazon, worth over $120 billion.

Tim Cook Net Worth

tim-cook-net-worth
Tim Cook’s net worth is primarily comprised of his Apple stocks. As of 2023, he owned 3,279,898 worth about $480 million at the current rate. However, Tim Cook has sold part of his Apple stocks over the years for hundreds of millions of dollars, making him a billionaire.

Bill Gates Net Worth

bill-gates-net-worth
Bill Gates was the co-founder and former CEO of Microsoft until 2000, and he was on the board of Microsoft until 2020. However, over the years, Gates sold various stakes in Microsoft and diversified away from it. As of 2019, Gates had a 1.34% stake in Microsoft, which he might still own, valued at about $25 billion.

Satya Nadella Net Worth

satya-nadella-net-worth
As of 2022, Satya Nadella had 763,518, valued at $190 million at Microsoft’s current market value. Nadella also got a $2.5 million base salary in 2022, plus $42.27 million in stock awards and over $10 million in non-stock incentives. Nadella sold hundreds of millions of dollars of Microsoft stocks in the last ten years, making him a centi-millionaire. In 2022, 96% of Nadella’s salary was performance-based, whereas only 4% comprised a base salary.

Larry Page Net Worth

larry-page-net-worth
Larry Page co-founded Google (now Alphabet) and Sergey Brin. He controls the company tightly via a dual share ownership structure (made of Class A and B stocks). Alphabet is worth over a trillion dollars, valuing Larry Page’s stake in the company at around $70 billion.

Sergey Brin Net Worth

sergey-brin-net-worth
Sergey Brin co-founded Google (now Alphabet) together with Larry Page. He controls the company tightly via a dual share ownership structure (made of Class A and B stocks). Alphabet is worth over a trillion dollars, valuing Sergey Brin’s stake at around $66 billion.

Mark Zuckerberg Net Worth

Mark Zuckerberg Net Worth
Mark Zuckerberg is the co-founder and principal shareholder of Facebook (now Meta), in which he owns a controlling stake worth over $68 billion. Thus Mark Zucberkerbs’ net worth is around $68 billion in 2023.

Eduardo Saverin Net WorthEduardo Saverin Net Worth

eduardo-saverin-net-worth
Eduardo Luiz Saverin is a billionaire entrepreneur and angel investor. He co-founded Facebook with Mark Zuckerberg; he was later ousted. Yet later on, Facebook settled a lawsuit with Saverin giving him a good chunk of the company’s stock, now worth over ten billion dollars. Thus, Eduardo Saverin’s net worth is around $10.45 billion in 2023.

Larry Ellison Net Worth

larry-ellison-net-worth
While Larry Ellison is a shareholder in various tech companies (such as Tesla), his primary wealth comes from his ownership stake in the company he founded, Oracle. He owns almost 43% of the company’s stock, valued at over $100 billion, making him among the wealthiest people on earth.

Howard Schultz Net Worth

howard-schultz-net-worth
Howard Schultz’s net worth is over $2.2 billion. Indeed, he is the founder of Starbucks and a major institutional shareholder, with 1.88% ownership of the company, valued at over $2.2 billion at the current market value, making him a billionaire.

Daniel Ek Net Worth

daniel-ek-net-worth
Daniel Ek is one of the founders and one of the principal shareholders of Spotify. Indeed, in 2023 with 16.5% of Spotify’s shares, he’s worth around $3.7 billion.

Francois-Henri Pinault Net Worth

Francฬงois-Henri Pinault Net Worth
The Pinault family is the main shareholder behind the Kering Group luxury empire, with a stake of 41.7%, valued around โ‚ฌ30 billion, thus $32-33 billion. The Kering Group owns iconic brands like Gucci, Yves Saint Laurent and Bottega Veneta.

Pierre Omidyar Net Worth

pierre-omidyar-net-worth
Pierre Omidyar is a technology entrepreneur andPierre Omidyar is a technology entrepreneur and founder of eBay. As of 2020, before he stepped down from the company’s board of directors, he still owned 4.69% of the company’s stocks, valued at over one billion dollars. Yet, over the years, he sold a good chunk of his stocks, making him a billionaire. founder of eBay. As of 2020, before he stepped down from the company’s board of directors, he still owned 4.69% of the company’s stocks, valued at over one billion dollars. Yet, over the years, he sold a good chunk of his stocks, making him a billionaire.

Marc Benioff Net Worth

marc-benioff-net-worth
Marc Benioff’s net worth is $5 billion. His net worth primarily comes from his stake in Salesforce. Indeed, he owns 3% of the company’s stock, valued at around $5 billion at current market value, making Marc Benioff a billionaire.

Reed Hastings Net Worth

reed-hastings-net-worth
Reed Hastings is the co-founder, former CEO, and now executive chairman of Netflix. He’s also one of the major shareholders, with 1.7% ownership in the company, valued at $2.4 billion at the current rate.

Evan Spiegel Net Worth

Evan Spiegel Net Worth
Evan Thomas Spiegel is the co-founder and CEO of Snapchat. He’s also the main shareholder. Indeed, he both owns and controls Snapchat, and his stake in the company is currently valued at around $3 billion.

Brian Chesky Net Worth

brian-chesky-net-worth
Brian Chesky is an industrial designer and businessman who is also Airbnb’s co-founder and current CEO. Since the company was founded in 2007, Chesky has been in charge of it, amassing a net worth of about $10 billion, thanks to his shares in the company.

Phil Knight Net Worth

phil-knight-net-worth
Phil Knight, the founder of Nike, controls the company via a personal stake of shares for 7% ownership, plus the shares held via the family’s owned Swoosh, LLC, in addition to the shares in possession of his son’s Trust. Phil Knight directly controls a significant stake in Nike’s Class A and B shares, valued at over $40 billion.

Michael Jordan Net Worth

michael-jordans-net-worth
Michale Jordan is a billionaire but doesn’t own the Jordan brand, which is part of Nike. Yet, he gets 5% royalties on the sales of Jordan. For instance, as of May 31, 2022, Nike had endorsement contract obligations of $7.6 billion, of which over $250 million were to be paid out to Michael Jordan as royalties on the sales of Jordan in 2022 (the company made over 5$ billion in sales in that year). We estimated that between 2018-2022 alone, Nike paid (or is paying) Michael Jordan almost one billion dollars in royalties for Jordan’s brand sales.

Kevin Plank Net Worth

Kevin Plank Net Worth
Kevin Plank is Under Armour’s primary owner and founder, of which he’s also chairman. His stake in the company is worth over a billion dollars at current market value, making him a billionaire.

Read More:

More Resources

About The Author

Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
Scroll to Top
FourWeekMBA