Courtesy of Citybizlist – Under Armour shares recently went into their kick mode in the 2011 race, making founder Kevin Plank a newly minted billionaire.
Courtesy of a 55 percent stock price jump, Plank now enjoys a net worth of $1.05 billion, according to Forbes. However, this is an off and thing.
The magazine says this is actually Plank’s fourth visit to the billionaire’s circle this year, but each time a stock drop has sent him back.
Forbes also reported that Nike and Under Armour have given indications of mutual interest–a deal that could put Plank in the billionaire’s club for good.
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