Reynolds will continue to serve in a creative capacity for the mobile carrier, for which he is a minority owner.
Ryan Reynolds, an actor, and producer, has signed his first $1 billion contract.
Reynolds is a minority owner of the wireless company Mint Mobile, which has been acquired by T-Mobile in a deal that could be worth $1.35 billion (the actual payout will depend on the performance of the brands before and after the deal closes). 39 percent of the price will be paid in cash, and 61 percent in T-Mobile stock.
It’s unclear how much Reynolds will personally receive from the deal, but given that he reportedly owns between 20 and 25 percent of Mint Mobile, a low nine-figure salary seems likely.
Along with Mint, T-Mobile is also acquiring Plum, a wireless wholesaler, and Ultra Mobile, which aims to give customers options for making international calls. Ka’ena Corp owned all three businesses, and its co-founders Rizwan Kassim and David Glickman will continue to lead it as a separate business unit.
According to the terms of the agreement, Reynolds will continue to serve Mint in his creative capacity. The actor has frequently been seen in wireless brand advertisements, which highlight his unique sense of humor.
T-Mobile CEO Mike Sievert expressed his desire to apply that strategy across the board in a statement.
“Mint Mobile is the best deal in wireless and today’s news only enhances our ability to deliver for our customers,” Reynolds said in a statement Wednesday. “We are so happy T-Mobile beat out an aggressive last-minute bid from my mom Tammy Reynolds as we believe the excellence of their 5G network will provide a better strategic fit than my mom’s slightly above-average mahjong skills. I am so proud of the entire Mint team and so excited for what’s to come.”
“Over the long-term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile,” he said. “We think customers are really going to win with a more competitive and expansive Mint and Ultra.”
Reynolds is no stranger to the business world outside of acting. In 2020 he sold his Aviation Gin brand to Diageo in a deal worth $600 million.