Kevin Plank

Kevin Plank
Kevin Plank
Born	Kevin Audette Plank; August 13, 1972 (age 54); Kensington, Maryland, U.S.
Occupation(s)	Entrepreneur, businessman, philanthropist
Years active	1996–present
Known for	Founder and executive chairman of Under Armour

Kevin Audette Plank (born August 13, 1972) is an American entrepreneur, billionaire, and philanthropist. He established and currently holds the position of executive chairman at Under Armour, a company specializing in sports apparel, footwear, and accessories headquartered in Baltimore, Maryland. Plank served as CEO from the company's inception until 2020, then reassumed the role in April 2024. As of April 2023, his net worth was estimated to be approximately US$1.1 billion.

Early life

Raised as a Roman Catholic in Kensington, Maryland, Plank is the youngest among five brothers born to William and Jayne Plank. His father worked as a land developer in Maryland, while his mother held the office of mayor in Kensington before moving on to manage legislative affairs at the United States Department of State during President Reagan's administration.

Plank participated in local youth football leagues, with some of his early teams later appearing in Under Armour advertisements. Due to academic and disciplinary challenges, he left Georgetown Preparatory School but completed his high school education at St. John's College High School in 1990. Following this, he spent a year at Fork Union Military Academy before joining the football team at University of Maryland, College Park as a walk-on player. He earned a bachelor's degree in business administration there in 1996.

During college, Plank shared a room with football player and professional wrestler Darren Drozdov, whom he financially supported after Drozdov became quadriplegic due to an accident in 1999.

Career

While attending the University of Maryland, Plank started Cupid's Valentine, a seasonal venture selling roses for Valentine's Day that generated $3,000 in initial capital for Under Armour. He later adopted the "Cupid" brand name for his Cupid's Cup competition.

Under Armour

The concept behind Under Armour was born during Plank’s time playing for the Maryland Terrapins; dissatisfied with cotton T-shirts that absorbed sweat rather than wicking it away, he pursued synthetic fabric alternatives designed to keep athletes dry. After graduation, he launched the company using personal savings along with a Small Business Administration loan and experimented with multiple product prototypes.

Originally considering names like Heart or Body Armor, trademark conflicts led to choosing Under Armour—a name suggested by his brother—with the British spelling selected partly for marketing differentiation.

Operations began from his grandmother’s townhouse in Georgetown. The initial product, shirt #0037, was sold directly from Plank’s car. He utilized connections with former teammates who helped distribute shirts to professional athletes. The first significant team order came from Georgia Tech. By 1996, total sales had reached $17,000.

A critical turning point occurred in 1999 when Plank invested nearly all company resources and persuaded staff to temporarily forego salaries to fund a $25,000 advertisement in ESPN The Magazine. This campaign resulted in $1 million in sales the next year and expanded adoption among athletes and teams. By 2010, Under Armour’s annual revenue hit $1 billion; Plank became a billionaire by 2011.

Between 2014 and 2016, Under Armour allocated close to $1 billion toward acquiring mobile applications focused on activity tracking and diet management, creating what became the largest digital health-and-fitness platform globally with 150 million users. Some of these acquisitions were later sold off under new management.

Under Plank’s leadership as CEO, Under Armour achieved $5 billion in yearly revenue and employed roughly 15,800 people by late 2017. He stepped down from the CEO role in October 2019 and was succeeded by COO Patrik Frisk on January 1, 2020.

Plank also holds a position on the board of trustees for the National Football Foundation.

In early 2023, both Plank and journalist Stephanie Ruhle were questioned concerning a shareholder lawsuit filed in 2017 alleging that Under Armour had artificially inflated its stock price. Court filings disclosed private communications between Plank and Ruhle involving confidential company details and strategic counsel. Ruhle confirmed traveling on Plank’s private aircraft but stated she acted as an individual rather than representing journalistic interests.

Sagamore Farm

In 2007, Plank purchased the historic Sagamore Farm, a 630-acre property located in Baltimore County, Maryland, which was formerly owned by Alfred Gwynne Vanderbilt. This farm, renowned for being the home of the stallion Native Dancer—who achieved 21 wins out of 22 races between 1952 and 1954—is integral to Plank's mission to revive Maryland’s horse racing heritage by breeding a Triple Crown champion. On November 5, 2010, Sagamore Farm’s Shared Account secured victory in the $2 million Breeders' Cup Filly & Mare Turf (GI). By July 2017, the farm was home to approximately 100 horses, with nearly 40 undergoing active training.

Plank Industries

Since 2013, Plank’s real estate enterprise, Sagamore Development, has spearheaded a $5.5 billion mixed-use project in Baltimore’s Port Covington district. The firm acquired close to 235 acres intended for the creation of office buildings, residential units, retail establishments, parks, and boat launch facilities.

Also established in 2013, Sagamore Spirit represents Plank’s venture into whiskey distillation. After initially contemplating a vineyard, Plank redirected focus toward whiskey production upon discovering that the farm’s limestone aquifer provided optimal water quality for distilling. Collaborating with Bill McDermond, Sagamore Spirit strives to revive Maryland’s whiskey-making tradition, releasing its inaugural products in 2016.

Plank also restored the historic Recreation Pier building in Fells Point, Baltimore—originally constructed in 1914 for port cargo operations and later serving as a community center—transforming it into the Sagamore Pendry Hotel. Furthermore, Plank Industries acquired and upgraded Baltimore’s Inner Harbor water taxi service, improving waterfront transit options.

Baltimore

In 2016, Plank contributed $1 million through The Cupid Foundation to support Baltimore’s CollegeBound program. The next year, his foundation sponsored summer employment for 40 public school students from Cherry Hill in maritime transportation roles.

Plank holds active roles within Baltimore and Washington, D.C., participating in the Greater Baltimore Committee and the Greater Washington Partnership. He is a trustee for Living Classrooms, a nonprofit dedicated to experiential learning through urban and maritime environments. Through the Cupid Foundation, he donated $5 million to create the UA House at Fayette—a community center in East Baltimore operated by Living Classrooms.

Entrepreneurship

Plank is a benefactor of the University of Maryland's Robert H. Smith School of Business and its Dingman Center for Entrepreneurship. Serving as a university trustee, he contributed to establishing an endowment fund that invests in early-stage companies. He also founded the Cupid's Cup business competition, inspired by his “Cupid's Valentine” rose enterprise initiated during his college years.

School giving

Plank pledged $25 million to the University of Maryland to develop an athletics and academic complex that transformed Cole Field House into facilities for football training, sports medicine, and student entrepreneurship. In 2015, he donated $16 million to St. John's College High School in Washington, DC to support programs in athletics, academics, and entrepreneurship. In 2016, Plank gave $1 million to the Archdiocese of Baltimore to assist approximately 100 children in attending Catholic schools.

Personal life

In 2003, Plank wed Desiree Guerzon, a Filipina-American registered nurse and alumna of Georgetown University. The couple has two children and currently lives in Lutherville, Maryland. Forbes valued his net worth at $1.8 billion as of February 2018. He formerly resided in Georgetown, Washington, DC, where his previous residence was the priciest property available on the market at that time.

Politics

Plank has financially supported candidates from both major political parties in the United States. In February 2017, during an appearance on CNBC's Halftime Report, he commended President Donald Trump's business-friendly policies, describing Trump as a "real asset" for the business community. This statement sparked controversy and prompted some consumers to boycott Under Armour. Prominent endorsers such as Stephen Curry, Misty Copeland, and Dwayne "The Rock" Johnson publicly expressed disagreement with Plank's remarks.

In response to the criticism, Plank took out a full-page advertisement in The Baltimore Sun to clarify Under Armour’s position: while the company supports job growth initiatives, it opposes President Trump's travel ban. He initially joined the American Manufacturing Council under Trump’s administration but resigned following the violent events in Charlottesville, emphasizing that Under Armour’s mission centers on innovation and sports rather than political involvement. Additionally, Plank voiced opposition to Trump's withdrawal from the Paris Agreement and was among the Fortune 500 executives who committed to fostering diversity and inclusion within their workplaces.

2017

Awarded Achiever of the Year by Success Magazine
Included in Fast Company’s list of Most Creative People in Business
Inducted into the Sporting Goods Industry Hall of Fame

2016

Positioned No. 16 on Sports Business Journal’s 50 Most Influential People in Sports Business
Ranked No. 37 on Fortune’s Businessperson of the Year list
Honored as Game Changer by Men's Fitness
Placed No. 26 on Footwear News’ Power 100 Most Influential Designers, Influencers and Leaders in the Shoe Industry
Ranked No. 6 on Sporting News’ 50 Most Influential People in Sports
Listed at No. 63 on Adweek’s Power List
Recipient of the Hall of Champions award from the U.S. Small Business Administration

2015

No. 23 on Sports Business Journal’s 50 Most Influential People in Sports
No. 36 on Fortune’s Businessperson of the Year ranking
No. 66 on Adweek’s The Power List

2014

Honored as Person of the Year by Footwear News
Ranked No. 21 on Sports Business Journal’s 50 Most Influential People in Sports Business
Placed No. 15 among Top People in Business by Fortune

2013

Listed No. 4 on Forbes’ America’s 20 Most Powerful CEOs Under 40
Ranked No. 24 on Sports Illustrated’s Most Powerful People in Sports