Ryan Reynolds bought into Mint Mobile and turned himself into its unlikely spokesman; 4 years later, T-Mobile agreed to pay up to $1.35 billion for its parent company

Ryan Reynolds bought into Mint Mobile and turned himself into its unlikely spokesman; 4 years later, T-Mobile agreed to pay up to $1.35 billion for its parent company. The deal became a major part of Reynolds’ business career outside acting. Reynolds bought an estimated 25% stake in Mint Mobile in 2019 and became closely involved in its marketing through his creative agency, Maximum Effort. T-Mobile later agreed to acquire Mint Mobile’s parent company, Ka’ena Corporation, for up to $1.35 billion. The acquisition closed on May 1, 2024. Reynolds reportedly received between $300 million and $337.5 million through cash and T-Mobile stock from the transaction.

Ryan Reynolds bought into Mint Mobile and turned himself into its unlikely spokesman

Ryan Reynolds' involvement with Mint Mobile became a business story that went beyond a celebrity endorsement. The actor bought an estimated 25% minority stake in the low-cost wireless carrier in 2019. He also became the face of its advertising. Four years later, T-Mobile agreed to acquire Mint Mobile's parent company, Ka'ena Corporation, in a transaction valued at up to $1.35 billion.


The deal gave Reynolds a reported personal payout of about $300 million to $337.5 million through a combination of cash and T-Mobile stock. Bloomberg had previously reported that Reynolds owned about 25% of Mint Mobile.

How Ryan Reynolds became part of Mint Mobile?

Ryan Reynolds bought into Mint Mobile in 2019. His estimated 25% stake gave him an ownership position in the company rather than a standard paid endorsement arrangement.

Reynolds also became involved in the company's marketing. His creative agency, Maximum Effort, worked on Mint Mobile advertisements. Reynolds appeared in many of the campaigns and used a style that relied on short scripts, direct jokes and references to his public image.

The marketing became an important part of Mint Mobile's brand. The company used Reynolds as more than a spokesperson. He was involved in creating and appearing in advertisements that promoted the carrier and its plans. This approach helped Mint Mobile build attention while competing in the prepaid wireless market. The company focused on lower-cost plans and a digital-first model.

Key points from the Mint Mobile deal

• Reynolds bought an estimated 25% stake in Mint Mobile in 2019.
• T-Mobile announced its agreement to acquire Ka'ena Corporation in March 2023.
• The transaction was valued at up to $1.35 billion.
• Ka'ena Corporation owned Mint Mobile, Ultra Mobile and Plum.
• The FCC approved the transaction in April 2024.
• T-Mobile completed the acquisition on May 1, 2024.
• Reynolds received an estimated $300 million to $337.5 million from the transaction.

T-Mobile agreed to acquire Mint Mobile's parent company

The Mint Mobile acquisition was structured as a purchase of Ka'ena Corporation, rather than a direct standalone purchase of Mint Mobile. T-Mobile announced the agreement in March 2023. The deal covered Ka'ena's businesses, including Mint Mobile, Ultra Mobile and Plum.

The transaction had to receive regulatory approval before it could close. In April 2024, the Federal Communications Commission approved the deal after T-Mobile made commitments aimed at preserving consumer benefits.

T-Mobile then completed the acquisition on May 1, 2024. The final transaction was valued at up to $1.35 billion. The amount depended on certain conditions connected to the deal. Reynolds' personal return was much smaller than the total transaction value because he held a minority stake rather than owning the company.

How much did Ryan Reynolds make from Mint Mobile?

Reynolds owned about 25% of Mint Mobile, according to a Bloomberg report that cited an unnamed source. Reports put his personal proceeds from the sale at roughly $300 million to $337.5 million. One calculation places the figure at around $337.5 million. His payment came through a combination of cash and T-Mobile stock.

The figure also shows the difference between the total value of an acquisition and the amount received by an individual shareholder. T-Mobile's agreement valued the Ka'ena Corporation transaction at up to $1.35 billion, while Reynolds held only a minority interest in Mint Mobile. The transaction therefore became a significant business deal for the actor, who had built a portfolio of companies and investments outside Hollywood.

What happened to Mint Mobile after the acquisition?

For customers, the Mint Mobile acquisition did not lead to an immediate change in the basic identity of the service. T-Mobile placed Mint Mobile under its prepaid business. At the same time, it agreed to conditions connected to the regulatory approval.

One key commitment involved Mint Mobile's $15 monthly plan. T-Mobile agreed to keep the $15-a-month plan available to customers. Reynolds also remained connected to the brand. He continued working in a creative and marketing role and continued to appear in Mint Mobile commercials.

Mint Mobile's founders, David Glickman and Rizwan Kassim, also remained involved. They continued managing the brand as a separate digital-first business unit. Customers also gained access to some features linked to T-Mobile's network infrastructure.

These included:

• Free roaming in Canada.
• Automated "Scam Likely" call screening.
• Continued availability of the $15 monthly plan.
• Continued operation of Mint Mobile as a separate brand.

As a result, the acquisition changed Mint Mobile's ownership while leaving many parts of the customer-facing service in place.

Reynolds' other business ventures

Mint Mobile was not Reynolds' only business investment. The actor has built a portfolio that includes alcohol, sports and creative businesses. In 2020, Diageo acquired Aviation Gin, the alcohol company associated with Reynolds. He held an unspecified minority stake at the time. The transaction included $335 million upfront and up to another $275 million depending on the company's performance over the following 10 years.

Diageo said Reynolds and co-owner Davos Brands would retain an ongoing ownership interest in the company. Reynolds also runs Maximum Effort, the creative agency that worked on Mint Mobile's advertising.

In 2021, Reynolds and Rob McElhenney, creator of It's Always Sunny in Philadelphia, purchased Welsh football club Wrexham AFC. The reported purchase price was about $2.5 million. That same year, Reynolds' wife Blake Lively launched her drink brand Betty Buzz in partnership with Maximum Effort.

Reynolds continued acting while building his business portfolio

Despite his business activities, Reynolds continued his acting career. He was also set to star in Deadpool 3 alongside Hugh Jackman. Jackman returned as Wolverine for the film. Reynolds' Mint Mobile involvement therefore developed alongside his work in Hollywood. His role in the carrier included ownership, advertising and creative work.

The Mint Mobile story also illustrates how a celebrity can participate in a company through both investment and marketing. Reynolds' estimated 25% stake gave him a financial interest, while Maximum Effort gave him a direct role in the company's advertising. The eventual T-Mobile acquisition turned that stake into a reported payout of hundreds of millions of dollars.

Mint Mobile acquisition timeline

2019: Ryan Reynolds bought an estimated 25% minority stake in Mint Mobile.

March 2023: T-Mobile agreed to acquire Ka'ena Corporation, the parent company connected to Mint Mobile, Ultra Mobile and Plum, for up to $1.35 billion.

April 2024: The FCC approved the transaction after T-Mobile made commitments related to consumer benefits.

May 1, 2024: T-Mobile completed the acquisition.

The deal closed about five years after Reynolds first invested in Mint Mobile.

Why the Mint Mobile deal matters for Reynolds' business career?

The Mint Mobile sale added another major transaction to Reynolds' business portfolio. His involvement was not limited to putting his name on the company. He owned a minority stake and participated in its advertising through Maximum Effort. His reported payout of $300 million to $337.5 million came after T-Mobile acquired the parent company.

The deal also left Mint Mobile operating as a recognizable consumer brand under T-Mobile's prepaid business. The $15 monthly plan remained, Reynolds stayed involved in marketing, and the founders continued managing the business unit.

For Reynolds, the transaction connected his work as an actor with ownership, marketing and entrepreneurship. It also became one of the largest financial outcomes from one of his business investments.