According to Forbes, Kevin Plank has a net worth of $1.8 billion. In 1996, Plank founded Under Armour; on October 22, he announced that he would be stepping down from his role as the company's CEO.
Plank's road to Under Armour began after getting kicked out of a Washington D.C. prep school.
Plank became a walk-on at the University of Maryland in College Park; it was there that he started focusing on the material of his football uniform.
In 1996, Plank developed the first prototype of a skin-tight base layer made from a sweat-wicking synthetic fabric. He started the entire operation in his grandmother's D.C. basement.
next slide will load in 15 secondsSkip AdSkip AdPlank was able to get his business off the ground by selling his shirts to his football-playing contacts.
In the company's first year, 1996, it saw $17,000 in sales.
It wasn't long before college and professional players were wearing Under Armour; the company sales exceeded $200 million by 2004.
As the brand grew, Plank successfully positioned Under Armour through a variety of celebrity endorsements. Tom Brady, Gisele Bundchen, Cam Newton, and Misty Copeland are all tied to Under Armour.
As Business Insider has previously reported, Plank has been known not to name his competition directly. However, Under Armour has grown to be comparable to other mainstay athletic brands like Nike and Adidas.
Recently, Plank worked directly with Richard Branson to design and develop spacesuits for Virgin Galactic.
"I have followed Under Armour's progress through a personal friendship with its CEO, Kevin Plank and via the great relationships it has established over the years with various Virgin companies," Branson explained of the partnership in a January statement.
"I've loved its determination to push technical boundaries in order to improve performance, so could not have been more pleased when Kevin and his talented teams stepped up to the considerable task of creating a range of space apparel and performance programmes for Virgin Galactic," Branson continued.
Read more: Take a look at the Under Armour-designed spacesuits Virgin Galactic wants to send people to space in
In 2017, Plank sparked controversy after he praised President Trump in an interview.
In an interview with CNBC, Plank said: "To have such a pro-business president is something that is a real asset for the country."
The comment caused waves and Under Armour ultimately issued a statement saying: "We engage in policy, not politics."
On other topics, however, Plank publicly disagreed with Trump. When the president referred to Baltimore as a "rodent infested mess," Plank took to Instagram to defend Under Armour's homebase.
next slide will load in 15 secondsSkip AdSkip AdPlank lives outside of Baltimore, Maryland with his wife of 16 years and their two children.
In February, The Wall Street Journal reported that sources had indicated that Plank had a very close relationship with an MSNBC anchor, Stephanie Ruhle. Ruhle and Plank had traveled together on his private jet and she had given him input on business matters, The Journal reported, citing executives and people familiar with the matter.
Plank and Ruhle alike declined to comment for the Journal's article. "Mr. Plank and Ms. Ruhle are friends," Under Armour's senior vice president of communications, told The Wall Street Journal at the time.
At one point, Plank's family listed the most expensive home in Washington D.C.
As The Wall Street Journal reported in February, Plank owns a company that leases a black Gulfstream jet to Under Armour.
The family also has a privately held investment company called Plank Industries. Its holdings include an award-winning whiskey company.
Plank also owns Sagamore Racing Farm, a thoroughbred farm and training ground in Maryland previously owned by the Vanderbilts. He purchased and restored the farm in 2007.
next slide will load in 15 secondsSkip AdSkip AdPlank is stepping down as CEO but will act as the executive chairman and brand chief at Under Armour. Current COO Patrik Frisk will take up the duties of CEO on January 1, 2020.