As one of the most talked-about figures, Kevin Plank has built a significant fortune. Our team analyzed the latest data to provide a clear picture of their income.

What Is Kevin Plank's Net Worth?

While at the University of Maryland, Plank created the seasonal business Cupid's Valentine, which sold roses on Valentine's Day. He then used the $3,000 he earned from the business as seed money for his sports equipment company Under Armour, which he founded in 1996. Kevin had the idea for the company when he played for the Maryland Terrapins and grew frustrated over his cotton T-shirts' inability to wick the sweat from his body. He went on to search for synthetic materials that would keep athletes dry and comfortable. Initially, Plank ran Under Armour from his grandma's townhouse in Georgetown, and sold his first shirt from his car. He subsequently sent T-shirts to his friends who played professional sports, and made his first major team sale with Georgia Tech.

Kevin also operates a real estate firm named Sagamore Development, and he founded the whiskey distillery Sagamore Spirit. Beyond his entrepreneurship, Plank has made numerous charitable contributions to organizations throughout Baltimore and Washington, DC.

In October 2019, Kevin stepped down as CEO of Under Armour. At the time, his net worth was $1.8 billion. By mid-2020, his net worth had dropped to $1.1 billion.

Kevin Plank is an American businessman and philanthropist who has a net worth of $2 billion. Kevin Plank is the founder, former CEO, and current chairman of Under Armour Inc., which manufactures apparel, footwear, and accessories for sports.

Kevin Plank Billionaire Status

Kevin Audette Plank was born on August 13, 1972, in Kensington, Maryland. He is the youngest of five boys of William, a Maryland land developer, and Jayne, a former mayor of Kensington who later worked at the United States Department of State under PresidentRonald Reagan. Growing up, Plank played youth football with the Maplewood Sports Association. He went to Georgetown Preparatory School but dropped out due to behavioral issues and poor academic performance. Kevin subsequently attended St. John's College High School, from which he graduated in 1990. He went on to enroll at Fork Union Military Academy, where he played football for a year while trying to get the attention of schools in the NCAA Division I. Failing to be recruited by collegiate football programs, Plank enrolled at the University of Maryland, College Park, graduating in 1996 with a bachelor's degree in business administration.

Kevin had a watershed moment late in 1999, when he used almost all of his company's earnings to take out a $25,000 advertisement in ESPN The Magazine. A huge coup for Under Armour, the ad resulted in $1 million in direct sales in 2000 and spurred athletes and teams to buy its products. Ten years later, the company reached $1 billion in annual revenue for the first time, and in 2011, Plank became a billionaire. Between 2014 and 2016, Under Armour expanded its reach to purchase makers of diet- and activity-tracking mobile apps. Kevin stepped down as CEO in October of 2019 and was succeeded by COO Patrik Frisk.

While in college, he launched his first business, a Valentine's Day-related rose seller. After college, he developed an idea for a shirt that would wick away sweat and began searching for a material that would do what he wanted. After multiple prototypes, he hit on the synthetic material that seemed to work best, and he sent samples to his friends, many of whom were college or professional athletes. They wore the shirts and passed them on to colleagues. In 1999, his company, now called Under Armour, placed an ad in ESPN The Magazine, and over $1 million in orders poured in.

As Under Armour's largest individual shareholder, Plank's net worth has soared (and soured) since the company went public in 2005. At the stock's peak, his net worth was $6 billion. Between 2016 and 2018, UA stock dropped from an all-time high of $50 to an all-time low of $8. With the drop, around $4 billion in net worth was shaved from Kevin's pockets.

Ultimately, Kevin Plank's financial journey is a testament to their success.

Disclaimer: All net worth figures are estimates based on public data.