Billionaire who sold 2 companies to Coca-Cola tells people not to undertake

Billionaire businessman Mike Repole, who co-founded and sold beverage giants Glaceau and BodyArmor to Coca-Cola for a combined $9.7 billion, has an unexpected message for aspiring business owners: Don’t do it.

In an interview with School of Hard Knocks, a popular social media channel known for interviewing wealthy entrepreneurs, Repole shared his contrarian view on entrepreneurship, highlighting the harsh realities that most success stories tend to hide.

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“I spend more time trying to dissuade people from becoming entrepreneurs,” Repole said. “The first five years of an entrepreneur I call the years of survival. Every day, you can go broke.”

Repole’s cautious advice carries significant weight given his impressive business track record. A native of Queens, New York, now 56, he made his initial fortune by co-founding Glaceau with J. Darius Bikoff in 1999.

The company, which produced Smartwater and Vitaminwater, grew from US$1 million in sales in the first year to more than US$1 billion in revenue by 2007, when it was acquired by Coca-Cola for US$4.1 billion.

Following this success, Repole co-founded BodyArmor, a sports drink company, in 2011. It gained major visibility a few years later in 2014 when NBA legend Kobe Bryant invested $5 million for a 10% stake, becoming the brand’s creative director.

In November 2021, Coca-Cola purchased the remaining 85% of BodyArmor for $5.6 billion, making it the largest brand acquisition in the beverage giant’s history.

Forbes currently estimates Repole’s net worth to be $1.6 billion, largely a result of these two successful exits.

Between ventures, he also served as president of snack company Pirate’s Booty, helping to expand the brand by 300% before it was sold to B&G Foods for $195 million in 2013.

Bet on yourself or go with what’s safe

Despite his multi-billion dollar track record, Repole emphasized in the interview that entrepreneurial success is far from guaranteed. “There were days when I didn’t think we could do it,” he said, adding that he “failed” several times along the journey.

The billionaire’s advice reflects a growing trend among successful entrepreneurs who are increasingly outspoken about the challenges of building businesses.

Unlike the typical success narratives that dominate social media, Repole’s message recognizes the statistical reality that the majority of startups — more than two-thirds — fail, and that even successful entrepreneurs face constant uncertainty.

True to the style of successful entrepreneurs, Repole embraces what others might see as character defects.

When asked if he is “a little crazy,” like other billionaires, Repole responded, “I started out crazy,” adding, “Crazy people change the world.”