Steve Smith’s financial involvement with Koala has significantly boosted his wealth, following the company’s debut on the Australian Securities Exchange (ASX) this past Tuesday.
The cricketing legend invested $100,000 in the online bedding and furniture retailer back in 2015, securing what was then a 10 per cent share.
Smith’s SS415 Investments is now ranked as the eighth largest shareholder in Koala, with ownership of 3.9 per cent.
At this stake, Smith’s share was valued at approximately $11.9 million as Koala commenced trading on the ASX on Tuesday morning.
Throughout the trading day, the share price saw some fluctuations, but by the end of the day, it had climbed by 11.7 per cent. This surge has elevated Smith’s investment value to just over $13.2 million, translating to an impressive gain of nearly $1.4 million in just one day.
Steve Smith. Getty
Outside of cricket, Smith has established himself as a businessman, serving as an ambassador for Bamboo, an Australian fintech app that assists users in investing their spare change in cryptocurrencies and precious metals. He also co-founded Oat Milk Goodness and was an early investor in online photography platform Snappr.
While Smith has shown acumen as an investor, some of his teammates who may not possess the same financial savvy will be anxiously awaiting Cricket Australia’s contract announcement.
The selection panel will reveal the contract list on Wednesday, and it’s likely that Smith will feature among the top earners.
Reports from News Corp suggest that Jhye Richardson may not secure a contract despite his return to Test cricket this past summer.
From the previous list of contracts, Usman Khawaja is already certain to miss out following his retirement.
Usman Khawaja of Australia during his final day of Test cricket at the SCG. Getty
It’s unclear whether Glenn Maxwell will feature, given that he primarily competes in T20s, and his spot may be scrutinised after the World Cup disappointment. Sam Konstas also didn’t take part in Test cricket throughout the summer and doesn’t appear to be in contention for any limited-overs squad.
Meanwhile, Matt Short missed out on the T20 World Cup team, and Lance Morris faced injury challenges last season, although his potential might keep him in Cricket Australia’s good books.
Michael Neser is also likely to be considered after an impressive performance during the Ashes series.
Compiled by SportArena.au.
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