April 19, 2021 5 min read
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Beth Stavola’s voice trembles as she recounts the time she became the only woman in New Jersey to win a cannabis license.
“Having my daughter’s see me come in number one in our home state of New Jersey is my proudest moment because the whole story really came full circle,” she says.
Stavola is a Jersey Shore mom of six kids, five daughters, and one son. She’s not the typical person that comes to mind when you think about multimillion-dollar cannabis entrepreneurs. Before cannabis, Stevola worked on Wall Street as senior vice president of institutional equity sales at Jefferies and Company, now the world’s fifth-largest investment bank.
After that, she retired for a few years, making one-off investments for her family. Her deal broker asked her if she wanted to invest $1 million in cannabis in Arizona. At the time, it was a scary decision, but she went for it. Now she runs one of the most successful cannabis MSOs.
Stavola sat down to talk with me about her proudest moments, lessons she’s learned after operating in cannabis for a decade, and the legacy she wants to leave behind.
On her retirement to Green Street
“My biggest concern back then was how others would view me. Would I be viewed as the “pot mom,” and would my daughters be ostracized because of my new profession? But, I jumped two feet first,” Stavola says.
Stavola operated three locations in Arizona. When Nevada passed medical marijuana in 2014, she applied for licenses and won three.
By 2017, she had built a multi-million-dollar portfolio, which she sold to a Canadian company later known as MPX Bioceutical through a reverse takeover and joined the company to run its US operations.