We’re in the middle of a green rush, with people from all walks of life building empires on the back of cannabis. Society is recognizing that marijuana is a wonder plant with plenty of health and wellness benefits.
With more states opening the door to legal cannabis for recreational and medical use, there are plenty of opportunities to make some serious money investing.
People of color are also making some noise in the cannabis industry. It’s only right that black people stake their claim in the cannabis industry since they have been disproportionately prosecuted and imprisoned for cannabis offenses.
Here are some black-owned cannabis companies to invest in right now.
Black-Owned Companies to Invest in Right Now
You stand to gain a lot of money investing in cannabis, but you also need to know where the opportunities are. Here are a few successful black-owned cannabis businesses that are making some noise.
1. Xzbit’s Brass Knuckles
If you’ve been to a cannabis dispensary, you’ve seen Brass Knuckles vape cartridges in all types, strains, and flavors.
The brand quickly went from a humble startup to a force to be reckoned with in the cannabis industry. Rapper Xzbit is the man behind the brand, and his line of premium vape cartridges quickly became the #1 in the industry.
2. Al Harrington’s Viola
Former NBA player Al Harrington has told the story of Viola on many different media outlets.
He was always against weed, as was his grandmother, Viola. But when Viola was complaining about her glaucoma, which was particularly bad this day, both Al and Viola decided that they would try anything.
Harrington was living and playing in Denver at the time, and Colorado is burgeoning force in the medical and recreational marijuana industry. So Harrington ran to a dispensary and bought his grandma some medicine.
After a toke, he checked in on her and saw that she had tears in her eyes.
“I’m healed,” she said.
Viola said that she was finally able to read her bible — something she hadn’t been able to do for the longest.
That sealed it.
Harrington is now a cannabis enthusiast and advocate, with his own line of cannabis and cannabis products, aptly named “Viola” after his dear grandma.
3. American Cannabinoid Clinics
American Cannabinoid Clinics is a black-owned medical company that offers private consultations and care to patients online and offline. Their focus is to use cannabis to help heal people of a number of ailments and conditions.
This is also a family-owned business started by parents and two daughters.
The company was founded by husband and wife team Dr. David Knox and Dr. Janice Knox, and their daughters Dr. Jessica Knox and Dr. Rachel Knox.
4. Snoop Dogg’s Cannabis Brands
Snoop was publicly a cannabis enthusiast before it was cool.
Since weed and Snoop are synonymous, it’s only right that he also stake out his share in the business. In addition to his Leafs by Snoop weed strains, he has a line of vape pens, papers and other products.
5. Chef Miguel Trinidad’s Welcome to 99th Floor New York Restaurant
Aside from the growth of CBD for medical and wellness, you can count on culinary cannabis to be the next huge frontier of growth in the industry.
Right now, Chef Miguel Trinidad is at the forefront of these advancements. He runs 99th Floor, a restaurant in New York City that promotes cannabis and hosts private cannabis-infused dinners.
Marijuana laws are still strict in New York, so Trinidad has a line of edibles that are sold in states like California.
6. Supernova Women
This is a group of women of color that are heavily entrenched in the cannabis industry. It was co-founded by Amber Senter, an Oakland native that has used cannabis to heal her Lupus.
Senter also runs Magnolia Wellness, a dispensary in the Bay Area.
7. District Growers
District Growers is a legally licensed grow operation in the nation’s capital, founded by Corey Barnette.
They provide great flower to dispensaries all over and also have training programs for new cannabis farmers. The company also has its own line of cannabis butter and edibles, in addition to tinctures and pre-rolled joints.
Invest Into These Black-Owned Businesses
These are some of the premier black-owned cannabis companies to invest in right now. Consider these companies if you’re looking to spread your dollars around the black community, while also staking your claim in the budding cannabis industry.
To learn minority business owners, women in tech and more, stay tuned to our posts.