Kevin Plank Balances Business with Philanthropy

It is fitting that Kevin Plank is the founder and CEO of the athletic brand, Under Armour. The Kensington, Maryland native grew up playing football from a youth until college. He eventually went on to earn a degree in business administration from the University of Maryland, College Park. While in college, Plank began his career in business by founding Cupid’s Valentine. The money he earned from that, he used the profits to begin Under Armour.

The idea of Under Armour came when he was a student playing football for the University of Maryland. He searched for clothing that would help absorb his sweat because he sweated so profusely and wanted to be comfortable. He started the company out of his grandmother’s home. When his former teammates from Maryland went on to play professionally, he sent them the microfiber t-shirts and asked them to pass them out to their NFL teammates. From there, business skyrocketed. As of 2019, Under Armour generates approximately $5 billion in revenue annually and employed about 15,000 people as of 2018. Plank’s estimated net worth is $1.9 billion.

Plank has other business ventures and interests. In 2016 his Baltimore based investment company, Plank Industries, made a deal with the city of Baltimore to help revamp Port Covington and create a waterfront development. This project will span approximately 20 years and will cost billions of dollars.

Not only a businessman, Plank believes that philanthropy is a way to give back and founded his charitable organization, the Cupid Foundation. He has used his fortune to give back to various projects and organizations. In 2014 he pledged $25 million to his alma mater, University of Maryland. In 2016, he donated $1 million to Baltimore’s College Bound Foundation. Plank also pledged $16 million to his high school alma mater, St. John’s College High School. It was the largest donation in the school’s history. With his Under Armour, his donations and other projects, Kevin Plank’s legacy will last for many years to come.