Kevin Murphy - The $3.4 Billion Man
Entrepreneur|September 2019

Kevin Murphy left Wall Street for cannabis in 2011, grew his company, Acreage Holdings, and sold it this spring for billions. And he says there’s plenty more room for growth.

Jonathan Small

The average cannabis consumer may not have heard of Kevin Murphy, but they’ve surely seen the headlines he’s made as the CEO of Acreage Holdings, the largest vertically integrated, multistate cannabis company in America. Last year, he got former House Speaker John Boehner to join his board of directors—despite Boehner’s having claimed to be “unalterably opposed to the legalization of marijuana.” Then Murphy’s company produced a cannabis Super Bowl ad; when CBS rejected it (to nobody’s surprise), Acreage spun the moment into PR gold. And in April, Murphy made headlines again when he sold Acreage to Canopy Growth for $3.4 billion. It’s been a great run for this former Wall Street investor, who first got involved in cannabis in Maine eight years ago. Acreage’s portfolio includes cultivation, processing, and dispensaries—but despite now being one of the industry’s major players, he believes there’s still plenty of room for small businesses with big ideas.

You made a good deal of money on Wall Street. Why get into the cannabis business?

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM ENTREPRENEURView All

Don't Compete. Differentiate!

Want to scale your business? Stop worrying about the competition, and focus on these three areas instead.

3 mins read
Entrepreneur
October - November 2021

100 Women Of Impact – Eva Longoria

Eva Longoria became famous as an actress, but her real mission was to be the boss—and then give opportunities to women who might never otherwise get them.

10 mins read
Entrepreneur
October - November 2021

Where Change Leads You

The process can be painful, but the goal is profound: Find something new that you’d never want to lose.

3 mins read
Entrepreneur
October - November 2021

The Big Are Getting Bigger

Major acquisitions. Consolidations. Conglomerates. What’s going on in franchising? The answer says a lot about where the industry is heading—and what growth means going forward.

10+ mins read
Entrepreneur
October - November 2021

Innovation Comes from Intrapreneurs

Employees say they’re unhappy. Companies are struggling to navigate massive change. The solution to both? It’s creating a culture of intrapreneurship.

5 mins read
Entrepreneur
October - November 2021

Lessons That Are Worth Billions

How did Michael Dell build one of the most valuable technology companies in the world? By being willing to try, fail, and learn.

5 mins read
Entrepreneur
October - November 2021

Mapping the Route to Success

The tourism industry is ready for a comeback, and travel agents are proving their worth like never before.

2 mins read
Entrepreneur
October - November 2021

What Did You Cut?

To stay agile, business owners must often rethink what they truly need. We asked six entrepreneurs: What expenses have you realized your company is better off without?

2 mins read
Entrepreneur
October - November 2021

Facing a Hard Choice? Get Out of Your Head

When we look at a decision through someone else’s eyes, change becomes a lot easier to make.

3 mins read
Entrepreneur
October - November 2021

Making the First Sale

My sales career was almost cut short by my parents.

2 mins read
Entrepreneur
October - November 2021