Michael Jordan and Jeanie Buss were partying together as they attended an event in New York celebrating their brand’s 5th Anniversary.
Michael Jordan and Jeanie Buss
NBA legend, Michael Jordan has been enjoying life post-retirement from basketball. Jordan has also invested in many businesses ever since he retired. Most recently, Jordan was spotted with the Los Angeles Lakers owner Jeanie Buss at tequila brand Cincoro’s 5th anniversary celebrations in New York. Notably, Jordan and Buss were the original founders of the popular brand.
They celebrated the success of the premium tequila with other NBA club owners. Also, the event, which took place in New York City, drew a large number of celebrities and business leaders. The medical reporter for ABC News and Good Morning America, Dr. Jennifer Ashton, posted a picture of Jordan and Buss posing at the event on Instagram.
Happy 5th birthday to @cincoro tequila… with the legend Michael Jordan and the absolute best lineup… and the best people.Dr.Ashton wrote on Instagram
That said, to produce a premium tequila that would compete in the quickly growing luxury spirits industry, Jordan, Buss, and other NBA owners Wes Edens (Milwaukee Bucks), Emilia Fazzalari, and Wyc Grousbeck (Boston Celtics) founded Cincoro. Since its launch, Cincoro has been more and more well-known worldwide, reaching markets beyond the US, Canada, and the Dominican Republic.
Michael Jordan tasted success in the basketball business
Michael Jordan has not only tasted success on the court but he has also been winning off the court. Jordan once invested $275 million in the NBA side, Charlotte Hornets. He acquired a majority stake in the Hornets in 2010 after initially holding a minority stake in the team.
According to sources, Jordan consented to sell rich investors Gabe Plotkin and Rick Schnall the majority of his ownership in the Charlotte Hornets of the NBA. Interestingly, Jordan sold his stake for a whopping $3 billion after investing just $275 million in the Hornets. Moreover, as part of an agreement he also retained a minority stake with the NBA side.
This shows Jordan’s business IQ and how he is one of the best in the business when it comes to investing in different ventures. Apart from this, Jordan also has many other successful brands, with his collaboration of the Jordan sneaker and Nike brand being the most notable one. It remains to be seen now what Jordan will invest in next as his next business venture.