Kevin Hart has well surpassed his comedic status as a man of business and a celebrity thriving in financial success.
The comic has come a long way from standup, and has starred in blockbusters such as “Jumangi” and “Super Pets,” and was even tapped in 2020 to host the Academy Awards.
Hart is also chairman of HartBeat, a comedic entertainment company. He and the CEO, Thai Randolph, are looking to grow their business by making an investment that will help raise its capital.
“I won’t throw out a number that we’re looking at [capital-wise], but our mission is to keep the world laughing together,” Randolph told Yahoo! Finance Live at the Cannes Lions Festival of Creativity, an event held in Cannes, France, from June 19 to June 23. “That is a big, hairy, audacious goal. It takes not just capital but people and partnerships to fuel that mission.”
Hart took time from his current standup comedy tour to pick up Cannes Lions Entertainment Person of theYear at the festival, which focuses on creatives internationally.
“To be able to come out here with my company for people to understand what we do…the opportunity is more of a HartBeat opportunity,” Hart said to Yahoo! Finance about the award.
“We wanted to be an example of the change we wanted to see. Our infrastructure is full of color, is full of a variety of creatives and a landscape of inclusion, because that’s what it’s supposed to be,” said Hart of his vision for HartBeat.
“It is a badge of honor to even be in a group in a long list of hard workers and be highlighted in any way, shape or form,” Hart told Variety. “We love comedy, and that acts as the backbone, the driving factor, and the engine of our infrastructure. The things that we feel people can laugh at and resonate with, and ultimately have a high level of ‘feel-good’ — those act as great content pieces for our brand.”
The Growth of HartBeat
The last company to invest $100 million into HartBeat, was integral in making the company into what it is today. In 2022, Arby Partner invested $100 million into the entertainment company, which pushed HartBeat to $650 million valuation; Hart owns 85 percent of its stake.
Currently, HartBeat has more than 70 projects in development and production, Yahoo! Finance reported.
“We are definitely always thinking about expanding,” Randolph explained at the Cannes event. “We have doubled revenue year over year for the past few years. We have doubled the size of the team. We have grown our margins from a profit perspective. And with all of that, we always just feel like we’re just getting started.”
Hart says he is poised to take the company to new heights, and this will be possible for the team he has assembled.
“I am not the smartest man in the world — I will never put myself in a position to claim to be that,” Hart said. “But what I am is an amazing team player. And the team that I can say that I’ve been able to put around me has helped me create this thing. It’s a steam engine. It’s a team concept.”
Whatever formula Hart has created, it does seem to be working. Today, his net worth is reportedly about $450 million.