“The gold rush of our time”: how Russian businessmen sell marijuana in the USA

Фото: Depositphotos

In 2016, the legal sale of marijuana in the US amounted to $ 6,7 billion, despite the fact that the “grass” is not yet legalized in all states, its sale is also illegal at the level of federal legislation. Currently, the use of cannabis for medical purposes is legal in the 28 states of the United States, in eight of them “grass” can be legally purchased for recreational purposes.

The market potential after the expansion of the legalization territory is estimated at $ 50 billion.

That is why two Russian bankers who earned a fortune in Russia during the chaos of 1990-s decided to try their hand at selling marijuana, suggesting that they finally found another emerging market that can give them high profits. Bloomberg.

Both businessmen were educated in the United States, but left America after the collapse of the USSR, sensing opportunities in Russia, which had made the first attempts to build capitalism.

Boris Jordan

51-year-old Boris Jordan established the Renaissance Capital investment company in 1995, he is still the main owner of Renaissance Insurance. Jordan was the head of the board of directors of the Sidanco oil company, headed the company Gazprom-Media after it received the assets of Media-Most. Jordan now heads an international investment group. Sputnik.

In 2015 year Sputnik acquired an American company Palliatech, which grows and sells marijuana. Jordan's plans are to turn this company into a national network for growing and selling cannabis with retail outlets in at least 13 states, for this Sputnik invested in a startup already more than 100 million dollars.

“It's like Russia in the 1990s. We're talking about an industry that is in its infancy, that has to be built from the ground up, including legislation and everything else,” Jordan said.

"Our outlets look like Walgreens. They are filled with oils, tablets and creams,” the businessman said.

Palliatech based in Massachusetts. The company was founded in 2010 year as a manufacturer of medical equipment. When the wave of legalization of marijuana began, Palliatech one of the first to start working in this market segment.

Jordan is also a member of the Council on Foreign Relations of New York, he said that on his initiative a fund in 200 million dollars was created to invest in other opportunities of the marijuana industry, while the businessman refused to name his fund partners.

Bernie sutcher

In 1993, Sacher created the Troika Dialog investment company; in 2000, he was chairman of the board of directors of Alfa Capital, headed the Russian office Merrill LynchHe was on the board of directors of the Aton investment company.

Saucher calls the hype around marijuana in the United States "the gold rush of our time" and also compares the situation with 1990-mi years in Russia.

“Working in this industry makes me nostalgic because it is very similar to when I founded Troika Dialog 25 years ago. But this time no one will get hurt,” the businessman said.

Sacher - co-owner and CEO Tikun Olam USA - a joint venture with the largest producer of medical marijuana in Israel, where cannabis was legalized more than 20 years ago.

Washington, Delaware and Nevada products Tikkun Olam (in Hebrew, this means "Repair the World") is prescribed for chronic pain, post-traumatic stress disorder (PTSD) and many other diseases.

The company has spent about $ 9,3 million on licensing its own varieties of cannabis and marketing in these three states, but plans to continue to invest in the industry.

“The only thing that qualified me to become CEO of this company was my Russian experience of turning an idea into a real business in unstable and even anarchic conditions,” Sucher said.

Read also on ForumDaily:

Legal use of marijuana: what you need to know

Grass in the law: how smoking marijuana affects your body

Grass in the yard: everything about marijuana production in America

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