Kevin Hart Sold 15% Of His Media Company

The business move Kevin Hart just pulled off is no laughing matter.

As first reported by the Wall Street Journal, Kevin Hart just sold a minority stake in his newly-formed media venture, HartBeat, to a private equity firm called Abry Partners.

And the numbers are somewhat staggering. Abry is investing $100 million to acquire a 15% stake in HartBeat.

Paying $100 million for a 15% stake, mean's Kevin's company is now valued at $650 million.

A significant portion of the $100 million cash infusion will go to Kevin personally, with another chunk going to HartBeat for planned investments and content productions.

More importantly for Kevin, his remaining 85% ownership stake in HartBeat is now officially worth $552 million.

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