When the news broke about Soulja Boys $400 million deal with World Poker Fund Holdings, a lot of people had the same reaction: “There’s no way that’s true.” Soulja Boy took to social media to trumpet the figure while taunting large companies like Fox and CBS for failing to meet his monetary requirements. Many laughed, and that was about it.
$400 million deal confirmed. I still they think they low balled me though. I was thinking 2 or 3 billion..
— Soulja Boy (@souljaboy) May 1, 2016
Then the company supposedly behind the deal sent out a press release that confirmed it was indeed real, and the laughter stopped. According to the official statement from World Poker Fund Holdings, they had taken on Soulja Boy as a brand ambassador in the same way that Effen Vodka had with 50 Cent in order to boost their profile with potential users. And as for the figure that Soulja Boy threw out into the public? It was entirely true: $400 million broken up over a five-year deal.
That seemed to put the matter to bed—except that it really didn’t. A cursory look into World Poker Fund Holdings reveals that the publicly traded company is only worth something in the neighborhood of $350,000 on the stock market. According to Bloomberg, their stock at the present moment is worth $1.60 a share, and there’s 217,400 shares floating around out there. It doesn’t take a genius to see that the numbers don’t exactly add up.
Now, stock value isn’t the be-and-end all of a company’s total value. There’s a possibility that World Poker Fund Holdings has a vast store of liquid capital hidden away somewhere, but who really knows. We’ve reached out to them anyway to ask for more details about the deal and will update you as soon as we hear back.