Steve Smith’s investment in Koala has made one of Australia’s greatest ever cricketers even richer after the company on Tuesday debuted on the ASX.
One of Australia’s greatest ever cricketers invested $100,000 in the online bedding and furniture retailer back in 2015 with what was then a 10 per cent stake.
Smith’s SS415 Investments is now the eighth largest shareholder in the company, owning 3.9 per cent.
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At that ownership percentage, Smith’s stake was worth $11.9 million when Koala debuted on the ASX on Tuesday morning.
The share price has fluctuated throughout the day but before close of business had risen 11.7 per cent. That puts Smith’s value at just over $13.2m. He has effectively made almost $1.4 million in one day.
Steve Smith. Getty
Smith has long been a businessman outside of cricket, and is an ambassador for Bamboo, an Australian fintech app designed to help users invest spare change in digital currencies and precious metals. He also co-founded Oat Milk Goodness and was an early investor in online photography marketplace Snappr.
While the champion batter has been a smart investor, some of his teammates who aren’t savvy enough to have made some lucrative investments will be sweating on Cricket Australia’s contract list.
The list will be confirmed by Australia’s selection panel on Wednesday and Smith will no doubt be among the top earners on it.
News Corp is reporting Jhye Richardson won’t be despite making his Test cricket return during the summer.
From the last list, Usman Khawaja is the only certainty to miss out after his retirement.
Usman Khawaja of Australia heads out onto the SCG for his final day of Test cricket. Getty
Whether Glenn Maxwell is there remains to be seen too considering he only plays T20s and his position will be under scrutiny following the World Cup failure. Sam Konstas also didn’t play Test cricket in the summer and doesn’t look close to being part of any limited-overs squad.
Matt Short also didn’t make the T20 World Cup squad while Lance Morris battled injuries last season but his potential could lead to Cricket Australia keeping the faith.
Michael Neser could come into the list after a brilliant Ashes campaign.
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