Ryan Reynolds is not only a successful actor, but also a savvy entrepreneur. He owns a stake in Aviation Gin, Maximum Effort Productions, and Mint Mobile, a prepaid wireless brand that offers low-cost plans and unlimited data.
Mint Mobile was launched in 2016 as an online-only mobile virtual network operator (MVNO) that uses T-Mobile’s network to provide service. The company has been growing steadily since then, attracting customers with its affordable and flexible plans that start from $15 per month.
Reynolds became involved with Mint Mobile in 2019, when he acquired a minority ownership stake and became its chief creative officer. He also starred in several humorous ads for the brand, poking fun at traditional wireless carriers and highlighting Mint’s value proposition. In March 2023, T-Mobile announced that it was acquiring Mint Mobile’s parent company Ka’ena Corporation for up to $1.35 billion in cash and stock. The deal will also include Ultra Mobile, another MVNO under Ka’ena that targets international customers, and Plum, a wholesale provider of mobile services.
According to T-Mobile CEO Mike Sievert, the acquisition will help T-Mobile expand its customer base and reach new segments of the market. He said that Mint Mobile and Ultra Mobile have been “great partners” for T-Mobile for years, and that they share a common vision of delivering “the best value and customer experience” in wireless.
Reynolds will continue to serve as Mint’s chief creative officer and retain his minority stake in the company. He said that he was proud of what Mint has achieved so far, and that he was excited to join forces with T-Mobile to take it to the next level.
“I never dreamt I’d own a wireless company and I certainly never dreamt I’d sell it to T-Mobile,” Reynolds said in a tweet. “But here we are – doing both. I’m incredibly proud of what we’ve built at Mint Mobile.” The deal is expected to close by the end of 2023, subject to regulatory approvals and other customary closing conditions.
