Meet the billionaire king of rolling papers, 72-year-old Don Levin. Republic makes more than 1.2 billion booklets of rolling paper a year, which Levin says, while doing some quick mental math, translates into 3.7 million miles of paper. Read more:
the most rolling papers in the world is either exactly who you think he is or nothing at all. Yes, he has hung out with Hunter S. Thompson, partied at the Playboy Mansion, lost his car while high on edibles and had his warehouse raided by the feds. He has also bid on the Chicago Cubs with billionaire Mark Cuban and produced a handful of movies, including the 1986 Stephen King horror film.
Paper has long been a good business with high margins. But the global rolling paper industry is opaque and hazy; even the analysts who cover tobacco and cannabis companies don’t have a clear picture of its size and scope.
To restock their rolling paper inventory, Levin had to send money to a distributor in New York and a few months later they would receive a new shipment of French-made paper. He discovered that the distributor was collecting money from different retailers, placing an order and selling them for a big markup. “I figured I could do that too and so I jumped on an airplane,” he says. “The problem was that I had to buy a, way more than I could sell from an 800-square-foot store.
from 1978. By then, the federal government had started enforcing anti-paraphernalia laws, which targeted bongs and pot pipes but not rolling paper, and Levin saw his friends and peers in the industry on the wrong side of the law. “One person I knew got 104 months in prison,” he says. “I said: ‘Okay, I’m out.’ And we stopped selling everything except for rolling papers.
“We were not printing paper,” says Larry Posner, a former sales executive at Republic, “we were printing money.”
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