Kevin Hart Says Backing Friends’ Ideas Was ‘Worst Investment’

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Kevin Hart Says Backing Friends’ Ideas Was ‘Worst Investment’

by Nahlah Abdur-Rahman

Hart regretted investing into some of his friends’ ventures as they failed to take off.

Kevin Hart apparently regrets giving money to some of his friends’ business ventures.

While on James Corden’s The Late Late Show in 2022, he reflected on his financial support of his friends’ business ideas. He called the decision to help his friends’ ambitions one of his worst investments.

“The worst business investment that I’m currently involved in is the business of investing in your friends,” he said to Corden at the time.

While wanting to champion his friends and have them “come up” like he did in his entertainment career, some of these ideas fell flat.

The actor and comedian added, “You never want your friends to feel like their ideas are not good ideas, but thus far, these ideas have been an endless pit of bankruptcy.”

According to AfroTech, one of the inventions in particular was a pair of headphones that could transform into speakers. While Hart initially thought the idea was innovative, it never took off as he and his friend had hoped. The failed venture resulted in a loss for both parties.

“In the beginning, they were just headphones, and people could enjoy them normally,” Hart explained on the show.

He continued, “But then if you wanted to make everybody else listen, they opened up … That’s the worst invention I’ve ever put money into.”

Now, Hart is a bit more careful with how he gives out money. Previously covered on BLACK ENTERPRISE, Hart’s own Gran Coramino Tequila launched a program to support Black and Latinx business owners. In partnership with Local Initiatives Support Corporation (LISC), the Coramino Fund offered over $1 million in grants to 100 small business owners from 2022 to 2024.

Earlier this year, his Hartbeat Ventures also co-launched an AI Illumination Grant, partnering with the Fifteen Percent Pledge and A16z’s Cultural Leadership Fund. The initiative specifically helps Black founders in emerging technologies, also supported through The Coramino Fund.

While adding more discernment about supporting his friend’s businesses, Hart still uses his influence and wallet to support other entrepreneurs. With an estimated net worth of $400 million and his own production grant called HartBeat Productions, Hart has all the means to make change and diversify multiple industries as a media mogul.

RELATED CONTENT: Kevin Hart Becomes CEO At Hartbeat

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