Leadership and success personified;
“@MikeMMcBride: Under Armour Billionaire Kevin Plank Has Had A Very Good Year
http://onforb.es/16BtAQl via @forbes”
Under Armour founder and CEO, Kevin Plank, likes to think of himself as the underdog, the man who is taking on the sports apparel industry’s big boy (Nike) with a company that he started from scratch in the basement of his grandmother’s apartment in Washington, DC.
The Youngest Billionaires On The Forbes 400:
It so happens that the underdog has had a great year. The 41-year-old Plank is once again a member of the Forbes 400, a list that he keeps climbing (he is number 327 this year, up from 345 in 2012). His net worth has increased by 26%, to an estimated $1.7 billion, based mainly on the booming stock of his company, which was founded on the strength of Plank’s sweat-wicking, form-fitting shirts, but has since branched out into cotton, shoes and exercise devices.
The highlights from Plank’s year include:
–A stock price that has risen 35%. (Plank donates 10% of his own stock sales to his Cupid Foundation)
–Thirteen straight quarters of at least 20% revenue growth.
–An expected year-end revenue number of $2.25 billion.
–A bold stated goal of doubling UA’s revenues by 2016.
–A stick-in-the-eye lawsuit filed against Nike for trademark infringement.
–A partnership with the NFL in its Head Health Initiative, which comes with a bunch of good public relations.