Mike Repole, the billionaire entrepreneur who co-founded beverage giants Glaceau and BodyArmor and sold them to The Coca-Cola Co. for a combined $9.7 billion, has an unexpected message for aspiring business owners: Don’t do it.
In an interview with The School of Hard Knocks, a popular social media channel known for interviewing wealthy entrepreneurs, Repohl shared his contrarian perspective on entrepreneurship, highlighting the harsh reality that most success stories mask.
“I spent more time convincing people not to become entrepreneurs,” Repole said. “For an entrepreneur, the first five years is what I call the survival period. Every day, you could go bankrupt.”
Given Repore’s impressive business record, his cautionary advice is significant. The 56-year-old Queens native first made his fortune in 1999 when he co-founded Glaceau with J. Darius Bikoff. The company, which makes Smartwater and Vitaminwater, grew from $1 million in sales in its first year to more than $1 billion in revenue in 2007, and Coca-Cola acquired the company for $4.1 billion.
Following this success, Repole co-founded sports drink company BodyArmor in 2011. A few years later, in 2014, the company gained significant attention when NBA legend Kobe Bryant invested $5 million for a 10% stake in the brand and became its creative director. In November 2021, Coca-Cola acquired the remaining 85% of BodyArmor for US$5.6 billion, becoming the largest brand acquisition in the beverage giant’s history.
Forbes Repole’s net worth is currently estimated at approximately $1.6 billion, largely due to these two successful exits. In between these ventures, he also served as chairman of snack company Pirate’s Booty, helping grow the brand 300% before selling it to B&G Foods in 2013 for $195 million.
Despite Repore’s multibillion-dollar track record, he stressed in interviews that entrepreneurial success is far from guaranteed. “There were days when I thought we weren’t going to make it,” he said, adding that he “failed” multiple times throughout the journey.
The billionaire’s advice reflects a growing trend of successful entrepreneurs becoming more candid about the challenges of starting a business. Unlike the typical success narratives that dominate social media, Repole’s message acknowledges a statistical reality: Most startups (more than two-thirds) fail, and even successful entrepreneurs face ongoing uncertainty.
As is typical with successful entrepreneurs, Repohl embraced what others might consider character flaws. Asked if he was “a little crazy” like other billionaires, Repohl responded: “I get crazy,” adding, “Crazy people change the world.”