Getting cash is straightforward when you hit a breakthrough, Barstool Sports activities founder Dave Portnoy says. In a Might episode of the “Membership Shay Shay” podcast, hosted by NFL Corridor of Fame tight finish Shannon Sharpe, that it took him 10 years to earn his first $1 million. Portnoy now claims he can pull in $5 million in every week.
“When you recover from the hump, it simply involves you,” Portnoy stated. He added, “I could not consider it, I used to be earning profits not doing something.” After reaching his first million, he defined that cash began coming in quicker.
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Portnoy bought Barstool Sports activities to Penn Leisure Inc. (NASDAQ:PENN), which first purchased a 36% stake in 2020 after which accomplished the acquisition in 2023 in a deal valued at about $500 million. The corporate entered a cope with ESPN to launch ESPN Wager, and as a part of that transfer, it bought Barstool again to Portnoy for $1.
For the reason that buyback, Portnoy has pushed Barstool into recent visibility. The corporate reported a content material cope with Fox Sports activities, inserting its contributors on “Massive Midday Kickoff” and co-producing new digital programming. In accordance to Fox Sports activities, the partnership brings Barstool into nationwide school soccer protection and expands its attain via tv and streaming platforms.
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Portnoy’s remarks align with the precept of compound progress, the place returns construct on themselves. Equally, Warren Buffett, chairman and CEO of Berkshire Hathaway Inc. (NYSE:BRK, BRK.B)), in contrast it to a snowball rolling downhill: “Life is sort of a snowball. The necessary factor is discovering moist snow and a extremely lengthy hill,” he stated in his 2008 biography “The Snowball: Warren Buffett and the Enterprise of Life.” As balances develop, even modest returns can create important sums.
Portnoy has stored a busy public profile alongside his media ventures. His “One Chunk Pizza Opinions,” posted on his app and social channels, characteristic him sampling a slice of pizza after which giving it a rating on a scale from one to 10.
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In accordance with Portnoy’s “One Chunk” app, he stopped by Hook & Ladder Pizza in Hollister and Mr. G’s Chicago Pizza in Branson, each in Missouri, in addition to Stone L’Oven Pizza in Brewster, Massachusetts.
