Michael Jordan’s investment list goes even bigger. Joined by Giannis Antetokounmpo he has invested in a luxury watch company.
Michael Jordan, arguably the greatest basketball player of all time, didn’t just inspire several NBA players to be the best. He also showed everyone the path on how to be a successful businessman while or after their playing days are over. He is still doing it by his continuous investments in up-and-coming ventures.
The world’s richest athlete has plenty of investments other than his Nike deal which makes him a billionaire and Nike, the best sports apparel brand in the world.
Hundreds of millions he makes from Air Jordan, he invests in companies like Dapper Labs, Darftkings, Cincoro Tequila, and a few others. The majority stakeholder of the NBA franchise Charlotte Hornets has recently invested in a watch company that goes by the name WatchBox.
MJ and Giannis invest millions in WatchBox
Founded in 2017, WatchBox sells pre-owned luxury watches and it is the best in the business according to the company’s CEO Justin Reis. In an interview with CNBC on Monday, the CEO said the company is on pace for $300 million in net revenue this year and could seek an IPO in the future.
“In terms of size and scale, if you look at us in the market, we’re probably the largest platform in terms of revenue,”
Says Reis, adding WatchBox surpassed $1 billion in total revenue since its creation.
The reigning NBA champion and finals MVP Giannis Antetokounmpo has also followed the footsteps of the 6-time NBA champion MJ. They are also joined by the Milwaukee Bucks owner Marc Lasry, Phoenix Suns stars – Chris Paul and Devin Booker, Minnesota Timberwolves’ Karl Anthony Towns and Wall Street investor Bill Ackman, among others.
WatchBox, a secondary marketplace for luxury watches, has raised $165 million.
• Michael Jordan
• Giannis Antetokounmpo
• Chris Paul
• Devin Booker
• Michael Strahan
• Larry Fitzgerald
• Karl Anthony Towns
The company will do ~$300 million in revenue this year. pic.twitter.com/0E3j4oVfVr
— Joe Pompliano (@JoePompliano) November 23, 2021
They all have cashed in at the right time as analysts estimate the market for second-hand luxury watches to be worth $20 billion and say it is growing faster than the primary market.