The stock Gronk bought 10 years ago on his contractor’s advice: “The best investment of my life”
The NFL star made ten times his initial investment in what was already a pretty safe bet.
Rob Gronkowski, the former NFL star tight end, recently revealed that his best investment ever came from an unlikely source: his housing contractor. In 2014, while building his house in Foxborough, Massachusetts, Gronkowski’s contractor repeatedly advised him to invest in Apple stock.
Initially skeptical, Gronkowski eventually decided to take the plunge after hearing the suggestion “about 50 times” he told Fortune. Despite having no prior experience with stocks, he instructed his financial advisor to invest $69,000 in Apple shares.
At the time, Apple was on the cusp of releasing the iPhone 6, which would prove to be a major success due to its larger screen size. The company was also preparing to launch its first Apple Watch the following year.
Gronkowski’s gamble paid off spectacularly. After forgetting about the investment for about two and a half years, its value tripled to $250,000. He promptly sold a portion of his holdings but kept the rest. Today, Gronkowski’s remaining Apple shares are worth over $600,000.
”It’s the best investment I’ve ever had in my life,” Gronkowski told Fortune.
Since September 2014, months after the investment, Apple’s stock has increased by 972%.
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