Skip to Content

Mike Gorenstein

Courtesy of Brittany Carmichael
  • Age
    33
  • Title
    CEO
  • Company
    Cronos Group

Industry: Health

This Ivy League–trained M&A lawyer turned venture capital investor bet on legal marijuana before it was in vogue, an early move that has paid off handsomely. After taking over as CEO in spring 2016, Gorenstein quickly rebranded the Canadian cannabis company (then known as PharmaCan) and last year oversaw the debut of Cronos’s stock on the Toronto Stock Exchange, as well as the Nasdaq through a secondary listing—making it the first cannabis stock to trade on a U.S. stock exchange. That’s helped make Cronos one of the most valuable publicly traded cannabis companies, with a market cap of $5.8 billion; its stock has returned some 9,800% under Gorenstein’s leadership. While a federal marijuana ban restricts Cronos’s ability to operate in the U.S., it received a major American stamp of approval in December in the form of a $1.8 billion investment from tobacco giant (and Marlboro maker) Altria—which now owns 45% of Cronos. The partnership could yield new products such as cannabis vaporizers.

Fortune Data StoreLooking for leads, investment insights, or competitive intelligence?Get Premium Access

40 Under 40

List Debut
2019