Kevin Hart Continues To Woo Corporate America and Grow His Net-worth With his Latest Venture

The buzzwords in corporate America these days are diversity and inclusion. That suits a raft of celebrities launching venture capital companies just fine. The latest is funnyman/entrepreneur Kevin Hart. His Hartbeat Ventures can add its name to other Black celebs such as Jay Z, Beyonce, P. Diddy, and Serena Williams investing in minority-owned start-ups with V.C. partners standing alongside.

J.P. Morgan is the latest investment titan hoping to leverage some of Hart’s star power and credibility to soften its corporate glare. They are backers of his early-stage VC firm, Hartbeat Ventures which will focus on lifestyle, media, and technology. Hart and associated execs revealed the new company at Techcrunch's Disrupt conference. A portion of the new fund, they said, will be allocated toward supporting minority and underrepresented founders.

According to techcrunch.com, Hartbeat Ventures has already invested in several projects, including electrolyte beverage brand BrightFox, avatar platform Ready Player Me, sustainable bottled water brand Path, massage therapy device Therabody, sustainable packaging brand Cleancut, car leasing platform Rodo and social food ordering platform Snackpass.

The fund marks the latest arm of Hart's burgeoning business empire.

King of Comedy

It’s not as if Kevin Hart is relying on the success of Hartbeat Ventures to pay the bills. He’s one of the hardest-working men in show business. Hart’s net worth currently stands at $450 million. His media company, Hartbeat, of which he is an 85% shareholder, has a valuation of $650 million, according to parade.com. In addition, Hart grosses around $1 million per live stand-up comedy show which regularly packs in arenas around the country. Forbes estimates he grossed $70 from tours between 2015-2016. 

Touring is the gift that keeps on giving. A Kevin Hart show requires very little except a mic and a spotlight. No band and little setup. This, coupled with the roughly $20 million upfront fee he charges for movies when he is the headliner, means that he routinely brings in over $60 million per year. In fact, 2016, fueled by non-stop touring, saw him gross $87.5 million.

Endorsements & Strategic Partnerships

It’s been hard to turn on the TV and not see Kevin Hart’s face for the past 6 or 7 years. In addition to his movies, he’s been on a slew of commercials, including Sam’s Club, Sirius XM, Chase, Draft Kings, Fabletics, H&M, Hyundai, Foot Locker, Tommy John, Old Spice, Nike, Hyundai, Footlocker, and more. In 2016 he grossed $17 million from endorsements. However, quick paydays for commercials may soon be over as Hart seeks strategic partnerships with companies wishing to leverage his brand. 

His collaboration with Nike for the Free Train Instinct ‘Hart’ shoe resulted in a $140 sneaker featuring motivational quotes from Hart, with a percentage of sales going directly back to the entertainer. In a 2018 interview with Forbes, he stated, “I am not in the position in life where I need to go take a money grab. I’m more about the partnership--a brand that I can grow, evolve, and do something special with.” Dual partnerships with Mountain Dew, Kickstart, and the NBA in 2017 further showcased his stance. 

In a climate marked recently by controversy and divisive comments by entertainers and sports figures, Hart's brand of self-deprecation and broad appeal has made him a magnate for advertisers.

"I’m not threatening, and that’s how I’m able to put myself in front of all audiences, all ages,” he told trade publication AdWeek recently. “It doesn’t matter your race, your size, ethnicity, age. I’m comfortable in all of those environments because of the person that I am, which allows me to build my brand even more. That’s the talent of being a likable personality.”

Monster Movies

Hart’s net worth has snowballed along with his monster box office success. "Jumanji: Welcome To The Jungle," grossed over $962 million. Though Hart received $10 million upfront, the back-end deal, prevalent in most contracts, inflated that number considerably. The sequel, "Jumanji 2: The Next Level," grossed over $800 million worldwide.

Social Media

Research commissioned by US fintech company, NetCredit, recently compiled a list of some of social media’s biggest earners. Soccer superstar Cristiano Ronaldo topped the list raking in a mighty $135 million from sponsored content in 2021 alone. Kevin Hart came in at sixth place, pulling in $40 million from Instagram.

Conclusion

As an entertainer, Hart stands apart from the competition. His non-threatening, amiable persona, often playing up an inferiority complex because of his stature, is impossible not to like. A natural quick wit and penchant for one-liners and sharp retorts (his Olympic Games coverage with Snoop Dogg was must watch) make him both box office and entertainment gold. 

Hart sticks to the game plan and has circumvented minor controversies around his personal life through the sheer volume of his output. His business empire has been built on the careful cultivation of his appeal. He has had a virtually empty field by sticking to the format. Corporate America embraces him because of his widespread likeability, while his core audience stays with him because he is never corny. He seems to be constantly authentic, making fun of himself and others, backed up by social media. In an overly serious, image-conscious, PR-paranoid business, Kevin Hart is a perpetual breath of fresh air.