Wow! 2007 was a very good year for
Sammy Hagar and
Cabo Wabo Tequila. The once lead singer for the rock group
Van Halen was noted as having one of the top 20 paydays in 2007 by
Forbes Magazine. Hagar was paid $80 million for 80% of the company by
Gruppo Campari, the makers of Camparri and Skyy Vodka. 20% of Cabo Wabo is still owned by Hagar. Gruppo Campari has the option to buy the remaining 20% within the next 5 to 8 years. It looks like Sammy may see yet another pay day at some point in the near future.
In 1996 when Hagar left Van Halen he almost immediately invested in the creation of Cabo Wabo brand. He apparently came up with the name after watching a man "wobbling" down the beach in Cabo San Lucas.
Wow! 2007 was a very good year for Sammy Hagar and Cabo Wabo Tequila. The once lead singer for the rock group Van Halen was noted as having one of the top 20 paydays in 2007 by Forbes Magazine. Hagar was paid $80 million for 80% of the company by Gruppo Campari, the makers of Camparri and Skyy Vodka. 20% of Cabo Wabo is still owned by Hagar. Gruppo Campari has the option to buy the remaining 20% within the next 5 to 8 years. It looks like Sammy may see yet another pay day at some point in the near future.
In 1996 when Hagar left Van Halen he almost immediately invested in the creation of Cabo Wabo brand. He apparently came up with the name after watching a man "wobbling" down the beach in Cabo San Lucas.
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