Tuesday, March 5, 2013
Manoj Bhargava, creator of the caffeine and vitamin packed 5-Hour Energy drink, has a net worth of $1.5 billion.
The owner of Farmington Hills-based Living Essentials, which produces 5 Hour Energy drinks, made his second appearance on on Forbes Magazine's list of the world's billionaires. Manoj Bhargava was a newcomer to the list in 2012. His net worth of $1.5 billion is $200 million higher than last year. However, he fell from #960 to #974 on the Forbes list, which is topped by financiers Carlos Slim Helu and family of Mexico, and American Bill Gates, who made his fortune with Microsoft. Bhargava, 60, is also a resident of Farmington Hills. He ranked #328 among Americans on the list, and 7th in Michigan, behind Richard DeVos (Amway), Hank and Doug Meijer (Meijer grocery stores), Daniel Gilbert (Quicken Loans), Alfred Taubman (real estate), Ronda …
Wednesday, December 5, 2012
The Farmington Hills-based company that produces the energy shots has come under fire after an FDA report linked it to 12 deaths over the past four years.
In the wake of safety concerns raised by a recent Food and Drug Administration (FDA) report, the owner of a Farmington Hills-based that produces 5 Hour Energy has taken to YouTube.com to defend the popular energy shot. Crain's Detroit reported Wednesday that the video, featuring Living Essentials owner Manoj Bhargava, has been viewed more than 2.4 million times. The video presents information about over-consumption of caffeine and points out the company recommends using just two 5 Hour Energy shots per day. "If my family wasn't going to use it ... if it wasn't safe for my family, I'm not gonna put it out there," said Bhargava, who is also a Farmington Hills resident. The Crain's report mentioned talk of congressional hearings on the …
Wednesday, November 14, 2012
The drink, made by Farmington Hills-based Living Essentials, is among beverages being targeted by federal lawmakers, The Detroit News reports.
An energy drink produced by a Farmington Hills company has been cited in 12 deaths over the past four years, according to the Food and Drug Administration (FDA). The Detroit News reported late Wednesday that 5-Hour Energy, made by Living Essentials LLC, "has been associated with 92 adverse event reports in that time, including 32 hospitalizations", according to FDA spokesperson Shelly Burgess. The report did not include any specific information about how the drink was tied to those incidents. According to the report, U.S. Sen. Dick Durbin (D-Illinois), has cited rising emergency room visits tied to energy drinks in his efforts to impose caffeine limits on them. Last week, Living Essentials company security called Farmington Hills Police …
Friday, March 9, 2012
Manoj Bhargava makes his fortune producing 5-Hour Energy.
With an estimated net worth of $1.3 billion, a Farmington Hills man is #960 on Forbes Magazine's list of the world's billionaires – thanks to a popular energy drink. Manoj Bhargava, creator of the caffeine and vitamin packed 5-Hour Energy, placed #353 on the magazine's U.S. list. According to a profile published Feb. 29, the 58-year-old is something of a recluse and gave his first-ever magazine interview to Forbes. The reporter spoke with Bhargava at Antonio's, a Farmington Hills restaurant. Last year, the Greater Farmington Area Chamber gave Living Essentials, 5-Hour Energy's parent company, its first Entrepreneur of the Year award.