James Monsees

James Monsees and his cofounder Adam Bowen became billionaires in late 2018 when investors valued their e-cigarette company Juul Labs at $38 billion.Each cofounder owns an estimated 1.75% of Juul and has netted an additional estimated $500 million from sales of their shares over time.The cofounders met as graduate students at Stanford University; they launched cigarette alternative Ploom in 2007.They launched a cannabis vaping company called PAX Labs in 2012; nicotine vaping device Juul spun out of PAX in 2017.Juul faces intense backlash from public health officials and parents because its product is highly addictive, especially for teenagers.