During a car ride one day, 9-year-old Alex Munoz was talking to his mom about what investing means. As a result of that conversation, his family came up with a plan for Munoz to invest $500.
Munoz decided he wanted to invest in the KIND snack company, because his family buys its products. (His favorite is the peanut butter dark chocolate bar.) But when he started doing his research, Munoz learned that he could not invest in KIND because the company is privately held.
Munoz decided to write a letter to the CEO, Daniel Lubetzky, asking when the company will go public.
Here's Munoz's handwritten letter transcribed exactly:
Dear Mr. Lubetzky,
I have been reaserching your company and I want to invest. Im investing in alot of compies we also buy your product. I will be getting all my money at my bar mitzvah. I am a Columbian Jew and I know your a Mexican Jew. I'm 9 years old. I live in Weston, Ma. Do you know when you will go public? I think you will do well. Are there any plans of going public? I like your idea of public action and supporting charities.
PS. My favorite is the peanut butter dark chocolate. I'm eating one right now.
Munoz, the youngest of three siblings, didn't expect to meet Lubetzky in person. He thought the company might send him a few KIND bar samples or maybe a $10 coupon, he says.
But touched by the letter and the gumption it took a 9-year-old to write to an executive, Lubetzky invited Munoz to come to the company's New York City headquarters, meet him and, in a nod to Munoz's financial literacy, be the company's chief financial officer for the day.
KIND even made business cards for the young (temporary) executive.
As honorary CFO, Munoz thinks that KIND should go public so that the company can expand, put more money into its charitable projects, make commercials and expand the current product line.
"Now you are going to tell your dad that you are the CFO of KIND, at least for one day," says Lubetzky to Munoz.
Munoz was also given 10 shares of company stock for his initiative. Lubetzky says Munoz, who just finished third grade, is the youngest person to ever hold KIND stock.
In a sit-down chat Monday, Lubetzky commended Munoz for writing the letter.
"I hope that in your entire life, you will always take risks, you will always go for what you believe in, you will always have the courage to write letters to whoever you want to write and to pursue your dreams, and if things don't go the way you want, you get up and try again," says Lubetzky.
Launched in 2004, KIND has more than 300 full-time team members (employees) and 300 part-time team members. As a private company, KIND does not disclose revenues, but the gross sales of KIND products at retail locations is $1 billion per year.
As for whether KIND will go public anytime soon, Lubetzky says not in the "foreseeable future." Though, he jokes, "with Alex as our CFO, you never know what the future holds ahead!"
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