Jamaican great Usain Bolt may have been used to winning on track but he has had to endure painful losses off it, going by the multi-million ventures that lost him big money.
Jamaican sprint great Usain Bolt is known for his speed on the track which made him a legendary figure, having set multiple records.
With 10 world titles and eight Olympics gold medals, Bolt remains the greatest sprinter of all-time, while he still holds the 100m and 200m world records, since setting them both at the 2009 World Championships in Berlin, Germany.
However, while he was so good on the track, Bolt has not been able to translate that success off it, as some of his big-money investment ventures have either failed to take off or lost him money in mysterious circumstances.
Bolt started investing his athletics earnings even before his retirement in 2017 and continued to do that after hanging his spikes, but a number of them failed to take off.
Multi-million investment ventures of Usain Bolt that failed to take off
Stocks and Securities Ltd
Usain Bolt loast nearly $13m in Kingston-based investment firm Stocks and Securities Ltd.
Usain Bolt is currently in distress after losing nearly $13 million in mysterious fashion from an investment scheme in January 2023.
Bolt was among investors who sunk their hard-earned cash in Kingston-based investment firm Stocks and Securities Ltd but noticed some discrepancies in his account early last year.
The sprinter discovered that more than $12.8 million was missing from his account with just $12,000 remaining.
Bolt would fire his financial adviser, following the scam but up to now, he is yet to recover his millions with the Jamaican authorities enlisting the help of the FBI but still no leads to how the legendary athletes lost such a huge fortune.
Bolt Mobility
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Usain Bolt’s co-owned electric scooter & bicycle company Bolt Mobility went under.
Usain Bolt co-founded electric scooter and bicycle company Bolt Mobility in 2018, just a year after his retirement.
The company operated scooters and e-bikes across eight cities in the United States, plus 25 other markets around the world, and there were hopes of a return on investment.
However, soon after, the firm ran out of money and abandoned its operations.
Champion Shave
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Usain Bolt shipped tonnes of Champion Shave around the world but the ventures failed.
In 2016, the year he won his final Olympics gold medals, Usain Bolt made a bold move and launched Champion Shave, a company aimed at producing high-end six blade razors.
“Tens of millions of men worldwide deserve a razor that is not only of the highest quality that provides a great shaving experience, but is also very affordable,” Bolt said in a statement at the time, as quoted by Sportbible.
As the ambassador and face of the product, it was believed that Bolt’s popularity and its low price, would rub off on potential customers but it did not take off.
Soon after, Bolt’s male grooming venture disappeared, its web domain vacant and all social media accounts deleted.
These might have been rare moments of defeat for a man that hardly lost a race but will have offered great lessons for his future investment choices.
