Wrigley's Gum Billionaire Turns to Medical Cannabis
William Wrigley Jr. II, of the family behind Wrigley's Gum, recently led a $65 million investment round for Surterra Wellness, a medical cannabis startup in Georgia with licenses to operate in Florida and Texas. The funding brings the total raised so far to $100 million, according to Surterra.
After selling the family business to Mars Inc in 2008, Wrigley left the candy world behind to focus on investments leading him to invest in Surterra in September 2017. Today his stake has increased substantially and he holds the position of chairman.
Surterra is his first venture into cannabis and his involvement was inspired by the medicinal benefits. “When I understood the massive benefits, it really changed my mind about the industry,” Wrigley said in an interview. He has not at this time invested at all in the recreational cannabis market although he has said that Surterra will eventually participate.