Business Takeout | Ryan Reynolds Sells Mint Mobile for $1.35 Billion to T-Mobile

Ryan Reynolds Sells Mint Mobile for $1.35 Billion to T-Mobile

March 18, 2023

Actor Ryan Reynolds has sold his wireless company, Mint Mobile, to T-Mobile for a whopping $1.35 billion. Reynolds, who purchased a stake in Mint Mobile in 2019, will reportedly continue to be involved with the company in an undisclosed capacity.

Mint Mobile, which offers low-cost prepaid wireless plans, has been a hit, with consumers looking for affordable alternatives to the major carriers. The company has snowballed in recent years, thanks in part to Reynolds’ involvement and his efforts to promote the brand through social media and other channels.

In a statement, Reynolds praised T-Mobile as a “perfect fit” for Mint Mobile, noting that the two companies are committed to delivering value and quality to customers. T-Mobile CEO Mike Sievert echoed those sentiments, calling Mint Mobile a “disruptive force” in the wireless industry and promising to “continue to shake things up” with the acquisition.

The deal is subject to regulatory approval and is expected to close in the second quarter of 2021. Once the acquisition is complete, Mint Mobile will become part of T-Mobile’s prepaid business, including brands like Metro by T-Mobile and GoSmart Mobile.

For Reynolds, the sale of Mint Mobile marks a significant exit from the business world and a major win for his entrepreneurial endeavours. In addition to his work with Mint Mobile, Reynolds has also launched several other ventures in recent years, including Aviation Gin and Maximum Effort Productions.

With the sale of Mint Mobile, Reynolds can now focus his attention on those other ventures and his acting career, which shows no signs of slowing down. The actor has many projects in the works, including a new movie with Dwayne “The Rock” Johnson and a television series based on the popular video game “Dragon’s Lair.”