Michael Jordan is among a group of investors that believe that fintech may enhance estate planning by investing in an $11.6 million funding round for startup Vanilla.
Michael Jordan was the pioneer who brought NBA basketball to a global platform. His unwavering pursuit of excellence inspired a generation of players and earned him six rings.
Jordan’s net worth is estimated to be $2.2 billion per Forbes. He has massive endorsement deals from nearly every major brand in the United States and various lucrative investing endeavors.
Michael Jordan still competes in competitive sports.
He owns the Charlotte Hornets, an $8M boat that he uses in fishing tournaments, and one of the country’s most exclusive golf clubs.
But today’s email breaks down his latest investment in NASCAR.
— Joe Pompliano (@JoePompliano) October 5, 2021
He also owns the Charlotte Hornets and a large percentage of his personal Nike brand, the Jordan Brand.
Jordan has recently ventured into estate planning. The former Bulls star has decided to make his first direct fintech investment in Vanilla.
Michael Jordan makes his first direct fintech investment in an LA-based firm, Vanilla
Estate planning may be a complex process. Vanilla, an LA-based firm, is on a mission to guarantee that families of all socioeconomic levels have access to estate planning.
Steve Lockshin founded Vanilla in 2019. Lockshin, who has been working with Jordan on his estate planning for the past 25 years, said he contacted Jordan and his business partner Curtis Polk.
The purpose was to create a fintech that automates and democratises estate planning. According to Lockshin, Jordan and Polk were keen to become investors.
Steve Lockshin’s estate planning tech firm Vanilla landed an investment from NBA legend Michael Jordan. Here’s the opportunity he saw.https://t.co/B7tgISfTlK
— WealthManagement.com (@wealth_mgmt) September 23, 2021
Following the current funding round, Vanilla will continue on its aim to make estate planning accessible to people of all income levels.
Jordan is a savvy businessman and investor, which has be essential to his success after his retirement from the sport.