Michael B. Jordan Adds Investment To His Portfolio With $218M Deal

July 4, 2023 Pharaoh

Black celebrities are raising the stakes when it comes to investing, and Michael B. Jordan’s investment in Alpine Racing is the latest move.

The actor reportedly purchased a stake in the Formula 1 team Alpine Racing, according to AfroTech. The outlet reported that Jordan is an investor in Otro Capital, RedBird Capital Partners, and Maximum Effort Investments. The 24% equity stake was worth $218 million, according to The Wrap. The deal reportedly increased the team’s valuation to $900 million, AfroTech reported. Jordan’s fellow Hollywood actors, Ryan Reynolds, and Rob McElhenney, are also investors.

Jordan isn’t brand new to investing in sports. Black Enterprise reported the Creed star became a minority shareholder of AFC Bournemouth last year. The club said in a statement, “AFC Bournemouth is Michael’s first foray into professional sports ownership, as he and Nullah will work closely with Bill in areas including global marketing and internationalization of the club [sic].”

Jordan’s net worth as of this year is $25 million, Parade reported. The bulk of his worth comes from his acting career with the Black Panther and Black Panther: Wakanda Forever actor earning around $2 million for his role as Erik Killmonger in the first film, according to the outlet. The amount does not include Jordan’s earnings for the second film, as those earnings have not been disclosed. According to box office numbers, Creed III made $275.3 million, Creed II made $214.1 million, and Creed made $173.6 million.

Another high-profile celebrity recently pivoted into sports team ownership as well. Black Enterprise reported that J. Cole became a minority owner of the Charlotte Hornets after NBA legend Michael Jordan sold a majority stake to a buyer group.

Black Enterprise also reported that actress Halle Berry joined biotech company Pendulum Therapeutics in early 2023 as an equity owner and investor.

Source link