As growers will know, only the female plant can grow the psychoactive buds we've come to know and love. So perhaps (like the bud itself) we'll continue to see the #Cannabis industry become increasingly dominated by women in the future, as it's clear with the growing list of females entering into the #Canna-Space, this industry may end up being uniquely female.
The C$835 Million-Dollar Woman / Beth Stavola
She is the married mother of six children, retired from her well-earned Senior VP position at investment bank Jefferies in 2009 at the ripe young age of 39 and began her cannabis industry journey 3 years later.
Stavola grew up in Ocean Township, the oldest of seven children, and credited her mother, Kathie Beggans, with raising her to believe she could do whatever she wanted, although it sounded like Beggans didn't have the #Weed business in mind.
After shegraduated from Monmouth University in West Long Branch, she went to Wall Street, eventually landing at Jefferies and Co. and selling stocks to institutional investors, and she left Jefferies after a decade, but she kept a toe in the business world by managing her family's investments.
She had retired from Wall Street to focus on raising her six children, she wasn't a #Marijuana user herself, but when she was contacted by a business broker about managing and funding a license in AZ’s new MMJ program with $1 million in an Arizona marijuana business, she jumped.
When Mrs. Stavola decided to get into the medical marijuana business, the response of her husband was "You’ve completely lost it now". But the dynamic businesswoman illustrates the opportunities and challenges small-business owners face when getting into the booming business of marijuana and cannabis-related products.
She had no experience with marijuana and had never thought about getting involved in the industry, she didn’t know what to expect, but once she saw the opportunity, she got more excited. But what started as an investment turned into a passion. Seven years later, Stavola is a powerhouse in the cannabis industry, her fingerprints on everything from legal weed in Nevada to a medical marijuana dispensary in Atlantic City.
She is the founder of Stavola Medical Marijuana Holdings, Health for Life Inc., GreenMart of Nevada, GreenMart of Maryland, Elemental Health Group of Pennsylvania, CBD For Life and Chief Strategy Officer of iAnthus.
She has been the driving force behind the development of these thriving cannabis businesses into profitable, strong brands. iAnthus acquired Stavola when buying MPX Bioceuticals, of which Stravola was COO and their highest stakeholder. When asked for comment about Stavola, iAnthus CEO Hadley Ford said:
Beth Stavola is one of the pioneers in the industry. What she has been able to do in building MPX while raising six kids is the stuff of legends. We acquired MPX for two reasons one was the strategic fit for iAnthus, the other was for Beth. I call her the C$835 million-dollar woman.
Cannabis is still young and exciting and it's growing fast. But unlike investment banking, it's a much more welcoming space for women. It's origins are based on compassion and care, the ability to multi-task, and frankly being a rebel. That said, as Wall Street becomes more involved in cannabis, it's becoming more male dominated in the public market. This like all industries, will benefit from more strong women in the C-Suite.
Who better to back mother nature and her feminized plants than Pioneering Women from across the globe in a variety of different fields and job roles. Incredibly resilient, inspirational, and industry leading, these are just a few of words that I can use to describe Stavola, who left Wall Street to build her own Cannabis Empire !
Thanks For Reading!
Check Out Previous Cannabis Articles I Published:
Hash Out The Truth Files / Mr. & Mrs. THC Series / THC GodFathers Series
< References & Photos >
Mjbizdaily / Greenentrepreneur / Forbes