Mike Repole, the billionaire who co-founded and sold beverage companies Glaceau and BodyArmor to Coca-Cola for a total of $9.7 billion, has an unusual message for people thinking about starting their own business: Don’t do it.
In an interview with The School of Hard Knocks, a popular social media channel that talks to successful entrepreneurs, Repole explained the harsh side of running a business that most success stories leave out.
“I spend more time talking people out of being an entrepreneur,” Repole said. “The first five years for an entrepreneur, I call the survival years. Every single day, you could go bankrupt.”
Repole’s advice carries weight because of his impressive career. The 56-year-old from Queens first made his fortune by co-founding Glaceau with J. Darius Bikoff in 1999. The company, which made Smartwater and Vitaminwater, grew from $1 million in its first year to over $1 billion in revenue by 2007, when Coca-Cola bought it for $4.1 billion.
After Glaceau, Repole co-founded BodyArmor, a sports drink company, in 2011. It became well-known in 2014 when NBA legend Kobe Bryant invested $5 million for a 10% stake and became 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 purchase in Coca-Cola’s history.
Forbes estimates Repole’s net worth at around $1.6 billion, mainly from these two companies. He also served as chairman of snack company Pirate’s Booty, helping it grow by 300% before it sold to B&G Foods for $195 million in 2013.
Betting on Yourself vs. Playing It Safe
Even with his huge success, Repole warned that being an entrepreneur is risky. “There were days that I didn’t think we could make it,” he said, and he admitted that he “failed” many times along the way.
His message reflects a growing honesty among successful entrepreneurs about the difficulties of starting a business. Unlike the success stories often shown on social media, Repole highlights that most startups—over two-thirds—fail, and even successful entrepreneurs face constant challenges.
When asked if he’s “a little crazy” like other billionaires, Repole said: “I started crazy,” and added, “crazy people change the world.”
You can watch the interview with Repole below:
@theschoolofhardknocks He’s a multi-BILLIONAIRE 🤯 he sold his companies BODYARMOR and Vitaminwater to Coca-Cola for $12 BILLION! I interviewed Mike Repole in Florida and I asked him if he thinks everyone is built for entrepreneurship. I also asked him whether or not he failed on his way to becoming a billionaire. Since he sold two beverage giants for billions of dollars I asked him whether he thinks product or distribution is more important in business. Lastly, I asked him if he would consider himself to be crazy. #wealth#entrepreneur#financialfreedom#motivation♬ original sound – The School of Hard Knocks
