Chicago Bulls legend Michael Jordan has made a series of smart investments over the years en route to his massive $3 billion net worth. However, perhaps one of his more surprising investments came when Jordan invested in the NASCAR team “23XI Racing.” “His Airness” partnered with NASCAR Cup Series driver Denny Hamlin to form the team in 2020. Jordan reportedly invested a whopping $150 million to become the majority owner of the organization, with Hamlin serving as a minority owner.
As for how Jordan got involved with NASCAR, he said that he has been a big fan of racing since his childhood. Jordan then got the opportunity to meet Hamlin after becoming a part-owner of the Charlotte Bobcats in 2006. This came as Hamlin was a season-ticket holder for the team at the time. The two later became good friends, with Jordan endorsing Hamlin through his “Jordan Brand” starting in 2013. Their friendship then grew over the years and ultimately led to the two partnering up as investors in NASCAR.
Regarding 23XI Racing, the name comes from a combination of Jordan’s iconic No. 23 jersey number and Hamlin’s No. 11 for Joe Gibbs Racing (Roman numerals). As of 2023, the organization features the No. 23, 45, and 67 Toyota teams for drivers Bubba Wallace, Tyler Reddick, Travis Pastrana, and Kamui Kobayashi.
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Michael Jordan on his passion for NASCAR
During an interview with NBC Sports in 2019, Michael Jordan spoke about his passion for NASCAR. Growing up in Wilmington, North Carolina, Jordan’s father, James R. Jordan, Sr., reportedly took him to Cup Series races at nearby tracks. These include the Charlotte Motor Speedway, Rockingham Speedway and Darlington Raceway. So, according to the Bulls legend, he became a big-time racing fan at an early age:
“I’m a big racing fan,” Jordan said.
“It started off when I was a kid. I grew up watching (Dale Earnhardt Sr.), I grew up watching Richard Petty, Cale Yarborough.”
Jordan added that he now sets reminders to watch NASCAR races every Sunday and that he always enjoys his times at the track:
“I love watching,” Jordan said.
“I set my clock every Sunday to watch NASCAR. I pay attention and I actually enjoy spending time (at the track).”
So, given that he is now the owner of his own NASCAR team, it looks like Jordan is certainly getting the most out of his retirement.
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