There are many roads to fortune. Some are planned. Some are not.For Rodney Sacks, becoming a billionaire in business after 20 years of being a private lawyer was unexpected.
Born in South Africa of Lithuanian Jewish immigrants, Rodney Sacks earned a law degree from the University of the Witwatersrand in Johannesburg, South Africa. Later, he pursued advanced studies in taxation. After graduation, he joined the country’s largest law firm where he rose to become senior partner. In 1989, he moved to California, USA.
Rodney Sacks partnered Hilton Schlosberg to acquire a california-based packaging company in 1990. Two years later, they bought debt-ridden family-owned juice producer Hansen Natural Corporation. He became chairman and CEO while Hilton was the vice-chairman, COO, and CFO. In 2002, the company introduced its now iconic brand Monster. When the brand became a hit among customers, it renamed itself as Monster Beverage. In 2015, Coca-Cola acquired a minority stake in the company and offered it the privilege to carry its other beverage drinks. In turn, Monster drinks are sold through the distribution channels of Coca-Cola. However, the partnership went sour in 2018 after Coca-Cola decided to develop its own line of energy drinks.
Under the leadership of Rodney, Monster Beverage grew to become one of the biggest energy drink company in the world, competing head to head with Red Bull. At present, the company is structured as a holding company, with its products sold under their respective subsidiaries.
Rodney received many accolades for his exceptional business acumen. He was honored as one of Fortune Magazine’s Businesspersons of the year for 2016.
Complete Name: Rodney Cyril Sacks
Birth Date: January 2, 1951
Birth Place: Africa
Company: Monster Beverage Corporation
Business Line: Manufacturer of energy drinks, sodas, and fruit juices
Net Worth: $2.1 billion as of April 26, 2020