Originally named Cellular Goods and now rebranded as Cel AI, the company experienced a remarkable debut on the stock market, witnessing shares nearly quadruple from their initial launch price of 5p on the first day of trading. However, the trajectory for Beckham’s investment took a downturn thereafter.
Beckham’s initial 5% stake, acquired for 1p per share before the float, was part of a strategically publicized move by the company and its advisors. However, DB Ventures, the entity overseeing Beckham’s business interests, has since divested its shares. Both Beckham’s representatives and Cel AI declined to provide comments on the transaction.
Despite a promising start, Cel AI faced a series of setbacks, including the withdrawal of its CBD-infused food supplements due to regulatory issues and advertising bans imposed by tech giants Facebook and Google. The departure of Beckham’s appointees from the board further signaled the company’s challenges.
Beckham, who initially profited from selling ten million of his shares at 1.2p each, likely incurred losses on the remaining holdings as the company’s share value dipped below a penny since May of the previous year. There is speculation that the sale of a majority stake in DB Ventures to Authentic Brands Group in 2022 might have influenced Beckham’s decision to divest his Cel AI shares.
Despite setbacks in his investment portfolio, Beckham’s brand continues to thrive, propelled by his diverse business ventures, including ambassadorial roles and successful forays into media and fashion alongside his wife, Victoria. Recent ventures, such as a Netflix documentary series, have contributed to their expanding empire, showcasing Beckham’s enduring appeal beyond the football pitch.
Creator: David Ramos – FIFA | Credit: FIFA via Getty Images
