THE MONEY: Main shareholders of the company they run – Corona-based Monster Beverage Corp.
EXECUTIVE CHANGES: Rodney Sacks retired as co-CEO in June. Remains chairman. Hilton Schlosberg now sole CEO.
THE NUMBERS: Schlosberg has a 7.8% stake while Sacks is at 7.6% as of April, according to the latest proxy statement. The beverage company was valued at about $57B as of mid-July, up from around $50B a year ago.
KEY METRIC: Monster’s shares are up 16% year-over-year.
BIG BREAK: Immigrants from South Africa, entered the beverage business in 1992 with the purchase of Anaheim-based public company Hansen Natural Corp.; rebranded just as the “New Age” category of waters, flavored drinks and other alternatives to Coke and other sodas were emerging. Energy drinks in particular proved to be a fortune maker, and Coca-Cola Co. paid $2.15B for a 16.7% stake in Monster in 2015; it now has a 20.9% stake in company.
ICE CREAM PURCHASE: Hilrod Holdings, owned by Schlosberg and Sacks, paid $19.2M for Thrifty Ice Cream brand and KPH Healthcare Services, according to court documents from June; two businesses in the throes of bankruptcy.
PORTFOLIO: Beyond beverages, pair is among the area’s largest private investors in OC commercial real estate, having been involved in office purchases here totaling more than $600M over the past seven years, according to Business Journal data. Part of group that in 2019 bought 2040 Main St., the Irvine office that holds the local headquarters of law firm Knobbe Marten for a reported $130M. Also in 2019, was part of a group that paid $116M for nearby 2211 Michelson office tower. RE portfolio drag on wealth.
LOCAL TIES: Sacks has a home in Laguna Beach while Schlosberg keeps Big Canyon address and counts a second property in Seal Beach.
PHILANTHROPY: Monster Energy Cares Foundation supports active duty, injured and retired military personnel, Monster athletes and their charities, the local community and first responders.
