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Kevin Plank Net Worth, Biography & Wiki 2017
Kevin A. Plank was born on the 13th August 1972 in Kensington, Maryland, USA. He is a businessman, the founder and current CEO of the sports clothing and accessories company Under Armour. The above mentioned company is the main source of Kevin Plank’s net worth. He launched the company in 1996, and has been working in it since then.
How much is the net worth of Kevin Plank? It has been estimated that the outright size of his wealth is as much as $3.9 billion, as of late 2015. Reportedly, his annual salary is $1.53 million, and his assets include a mansion located in Georgetown valued at almost $8 million.
Kevin Plank Net Worth $3.9 Billion
To begin with, Kevin was born to parents William Plank, a land developer, and Jayne Harper Plank the former mayor (Kensington) and director of the Office of Legislative and Intergovernmental Affairs at the United States Department of State (President R. Reagan). Kevin grew up with his four brothers. At first, he studied at the Gonzaga College High School, although he was forced to leave the school because of behaviour and poor academic achievements. Later, he was educated at St. John’s College High School, and then the University of Maryland.
The company Under Armour was founded in 1996 by the then 23-year-old student at the University of Maryland and the captain of the university football team Kevin Plank, in the basement of his grandmother’s house in Washington. Plank, who struggled during the game because of very wet shirts, noticed that his pants remained dry, and this inspired him to create wicking t-shirts. Soon after major companies such as Nike, Adidas or Reebok followed in the footsteps of Under Armour and created their own series of wicking clothing. At the end of 1996, the company generated $17,000 in revenue exclusively selling, and in 1997 Plank already had orders amounting to $100,000 and was thus forced to build a factory, in Ohio. His net worth was rising also.
The brand was even more noticed when on the cover of USA Today, the Oakland Raiders quarterback Jeff George appeared in Under Armour golf clothing. The company was recognized by the Technology University in Georgia, which has ordered 10 costumes for the team of Georgia Tech Yellow Jackets. Collaboration with the university resulted in cooperation with the state of North Carolina, and thanks to the positive opinions of players the number of orders began to increase. Under Armour’s first profit was achieved in 1998, and reached $1 million in 2000. Of course Kevin’s net worth was reaching upwards too!
In 2007, Under Armour opened its first store in Westfield mall in Annapolis. In May 2008 Westfield Fox Valley, Aurora was opened, a much larger (560 square meters) store. Under Armour outlets have now been opened in 34 states to date. One store has been opened outside the USA, located in Edinburgh, Scotland. The company plans to open a store with much larger area (2,300 square meters) with its headquarters in Baltimore. Several sprts celebrities are also now contracted to endorsements, including Jordan Spieth, Tom Brady and Michael Phelps.
Finally, in the personal life of the billionaire, he married Desiree Jacqueline Guerzon in 2003; the family has one child and reside in Lutherville, Maryland, USA.