After breaking the box office record with his directorial debut of Creed III, Michael B. Jordan is showing no sign of slowing down. He is diversifying his investment portfolio by venturing into the Formula space.
He has invested in Formula 1 team, Alpine, in partnership with Wrexham FC owners, Ryan Reynolds and Rob McElhenny, according to Deadline. It is a collective investment in the Renault-owned team, taking a 24% stake in the car racing company worth $220 million.
The stake, which will be under Reynolds’ Maximum Effort Investments company, makes Jordan one of the few Black owners in the Formula 1 industry. RedBird Capital and Fenway Sports Group are the other investment companies.
“Maximum Effort Investments focuses on unlocking value through the power of storytelling, and we believe there is tremendous untapped potential in Alpine Racing…We are eager to help shine a light on this incredible team. We’re thankful to our partners…as well as our co-investors, Michael B. Jordan and Rob McElhenney,” said Maximum Effort co-founder, James Toney.
This is not the first investment Jordan has made. He previously partnered with Serena Williams to invest $1 million in TracFlo, an operations management app, and became a football club investor earlier this year – as a minority owner of the English soccer team, Bournemouth FC.
“It is crazy and amazing. One reason I wanted to invest is that there was so much potential there. If you give to the community, and you have new managers and new players you can raise the culture of the team. It’s exciting,” Jordan previously told reporters.
He joins several stars who have invested in sports organizations, such as Kevin Durant, who is an investor in Thirty-Five Ventures.
Earlier this year, Jordan’s directorial debut, Creed III, crossed the $100 million mark. Prior to that, the film which held the record for the highest domestic debut was the 2010 remake of The Karate Kid.
As of May, the movie reportedly brought in $58.7 million in North America and $41.8 million overseas. According to Hypebeast, the movie is the most expensive in the Creed universe, costing $75 million. The first film cost $35 million, while the second film cost $50 million.
Creed III stars Jordan as Adonis Creed, son of boxing legend, Apollo Creed. It also features Jonathan Majors, his childhood friend and former boxing prodigy. Majors would come out from prison to fight Jordan for a foxing title.