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How This Wall Street Vet Became a Billion-Dollar Cannabis Success Story

Kevin Murphy won big when he agreed to sell his cannabis company, Acreage Holdings, for billions. But he says there's still plenty of opportunity.

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This story appears in the September 2019 issue of Entrepreneur. Subscribe »

The average cannabis consumer may not have heard of Kevin Murphy, but they’ve surely seen the headlines he’s made as the CEO of Acreage Holdings, the largest vertically integrated, multistate cannabis company in America. Last year, he got former House Speaker John Boehner to join his board of directors -- despite Boehner’s having claimed to be “unalterably opposed to the legalization of marijuana.” Then Murphy’s company produced a cannabis Super Bowl ad; when CBS rejected it (to nobody’s surprise), Acreage spun the moment into PR gold. And in April, Murphy made headlines again when he sold Acreage to Canopy Growth for $3.4 billion. 

Nicci Levy

It’s been a great run for this former Wall Street investor, who first got involved in cannabis in Maine eight years ago. Acreage’s portfolio includes cultivation, processing, and dispensaries -- but despite now being one of the industry’s major players, he believes there’s still plenty of room for small businesses with big ideas.

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