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E-Cigarette Industry Has its First Billionaires
Altria Group announced a $12.8 billion investment in Juul Labs Inc., acquiring a minority stake in the popular e-cigarette company and valuing it at $38 billion. The investment by Altria makes Juul's founders Adam Bowen and James Monsees the first e-cigarette billionaires, according to Bloomberg. The Bloomberg Billionaires Index notes that - assuming Altria's transaction dilutes the holdings of current