Michael Jordan co-owns successful side business with Serena Williams as $15,000,000,000 prediction made
The business has now been running for over five years and involves several other major sports stars as investors.
Michael Jordan co-owns a successful business alongside tennis legend Serena Williams as one of his main interests outside of basketball.
The NBA legend had an iconic career spanning across 19 years in the sport, winning the NBA Championship on six occasions and being named as the NBA Finals MVP on another six occasions.
Widely regarded as the greatest basketball player of all time, Jordan has also had a hugely successful business career since stepping away from the sport in 2003.
His contract with Nike reportedly earns him $500 million per year through endorsements, branding and MJ-related products, while he is also a key investor in NASCAR and NBA teams.
Advert
Away from sport, though, Jordan made significant steps towards a key business deal in July 2016 when he met with four rival NBA team owners for dinner.
They were Emilia Fazzalari and Wyc Grousbeck of the Boston Celtics, Jeanie Buss of the Los Angeles Lakers, and Wes Edens of the Milwaukee Bucks.
They all bonded over their shared love for tequila, and the Cincoro brand was subsequently launched.
The business launched in September 2019, with the premium brand selling 1.5 million and winning 23 awards in accredited competitions within the space of 23 awards.
Cincoro has been able to attract investors from across the world of sport, including 23-time Grand Slam tennis champion Williams, golf star Dustin Johnson and MLB Hall of Famer Derek Jeter.
Speaking on 'The Late Show' with host Stephen Colbert, Williams explained how her involvement with the brand came about: "Michael Jordan, he reached out.
"I actually love the product and tasted it first.
"He has been very supportive. To be part of such an iconic person - I still want to be like Mike. I think everyone out there kind of wants to be like Mike, and that was me.
"To be one of the investors and on this team with what we're doing, and we're growing something very authentic and slow. We want to build a really great tequila that people genuinely love and can genuinely drink and learn that you can sip tequila, and not shoot 'em back."
And speaking to Yahoo Finance, Fazzalari explained the expectation that the tequila category is predicted to grow subsequently over the coming years: "Unlike in the NBA, there's plenty of room for multiple winners in the tequila game.
"We're seeing consumers continue to drink higher quality spirits, with the tequila category predicted to grow to about $15 billion by 2025."
Topics: Michael Jordan, Serena Williams, Tennis, Basketball, NBA, Net Worth
Jack Kenmare