“Michael Jordan partners with the Greek Freak to invest in Watchbox”: NBA Finals MVPs joined by Devin Booker and Chris Paul in whopping $165 million private equity funding round

Akash Murty | 24/11/2021
"Michael Jordan partners with the Greek Freak to invest in Watchbox": NBA Finals MVPs joined by Devin Booker and Chris Paul in whopping $165 million private equity funding round

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.

Also read: “Michael Jordan’s $80M yacht is a luxury paradise”: The mean machine boasts a basketball court, movie theatre, fully equipped gym, and jacuzzi

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.

Also read: Bucks’ Giannis Antetokounmpo hilariously reveals how he found out about the sacred tradition of eating Oreos

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.

Post Edited By: Amulya Shekhar
Giannis Antentekoumpo Michael Jordan

About the author

Akash Murty

An Electrical and Electronics Engineer by degree, Akash Murty is an NBA Editor at The SportsRush. Previously a Software Engineer, Murty couldn’t keep himself away from sports, and his knack for writing and putting his opinion forward brought him to the TSR. A big Soccer enthusiast, his interest in basketball developed late, as he got access to a hoop for the first time at 17. Following this, he started watching basketball at the 2012 Olympics, which transitioned to NBA, and he became a fan of the game as he watched LeBron James dominate the league. Him being an avid learner of the game and ritually following the league for around a decade, he now writes articles ranging from throwbacks, and live game reports, to gossip. LA Lakers are his favourite basketball team, while Chelsea has his heart in football. He also likes travelling, reading fiction, and sometimes cooking.

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