Anthony Joshua becomes shareholder in world leading CBD firm Love Hemp, here’s what to know

Heavyweight boxer Anthony Joshua is making a name for himself in and outside the ring. The Nigerian-British boxer has just become a key shareholder of Love Hemp Group. He signed a three-year deal with the cannabidiol brand and will also become the brand’s ambassador as part of its key mission to promote wellness.

Joshua in a statement noted that he accepted to be part of Love Hemp because of his passion for dynamic British businesses and for the wellness of athletes.

“Love Hemp is a great brand with an amazing vision. The ability of CBD to improve people’s everyday lives is undeniable,” he said. “I have a passion for dynamic British businesses, and for wellness, making Love Hemp a perfect brand for me to endorse and become a shareholder in.”

According to him, this work with Love Hemp will allow him to be involved in the company’s moves to become a leading brand on wellness-focused CDB products.

“My work with Love Hemp will allow me to be involved in the company’s aggressive growth strategy as well as developing my own branded wellness focused CBD products,” he said. “Everyone should be able to experience and enjoy the many benefits CBD provides. I look forward to working with Love Hemp to achieve this goal.”

CBD stands for cannabidiol, the non-psychoactive compound in cannabis plants. It is used medicinally to treat conditions, address anxiety, and to provide pain relief. Bank of America Merrill Lynch has said that the global consumer market for CBD is set to reach a value of around $39 billion by 2032, according to a report by the Evening Standard.

The report added that Joshua will be issued shares to be held by his management company, 258 MGT, in lieu of a cash payment for the tie-up. Love Hemp CEO, Tony Calamita, said Joshua’s “profile in the international sports arena is key to the ongoing growth of the Love Hemp brand into the amateur and elite sports world.”

In the UK market, Love Hemp has over 40 products including oils, edibles, sprays and cosmetics. Also, the firm sells its products across 70 websites and 2,000 stores including Holland & Barrett, Sainsbury’s and Ocado, according to Yahoo Finance.

The heavyweight champion will fight Oleksandr Usyk in September this year. He will defend his IBF, WBA and WBO heavyweight titles with Usyk in September this year.

The boxer has competed in 24 boxing matches, winning 23 and losing just one. The British boxer has a net worth of $80 million, according to Celebrity Net Worth. Joshua makes his money from purses, endorsement deals, and his side businesses.

He reportedly earned $42 million between 2017 and 2018, the majority of which came from his bout with Alexander Povetkin. Also, between 2018 and 2018, he earned a staggering $54 million. Much of that came from his fight against Andy Ruiz, Jr., according to Celebrity Net Worth.

Joshua also makes money from endorsement deals with Beats Electronics, Jaguar, Hugo Boss, British Airways, Under Armour, and Audemars Piguet. According to Sportytell, his endorsements amount to $10 million. The boxing champion has a side project that brings in some money. The Insider says he has shares in BXR Gym and a merchandise line.

Joshua has a massive following on social media. He has over 17 million followers across Instagram, Facebook, and Twitter. The boxer earns lucrative sums from posts he makes to his followers. He is single and has one child.