Despite Michael Jordan’s $150 million investment, 23XI Racing is still worth far less than rival Hendrick Motorsport

Michael Jordan is the world’s first billionaire athlete. Jordan’s “Jordan” brand and his other business ventures have been incredibly successful over the years. His “Kinglike” life inspired millions of people like him to strive for greatness and will continue to do so. He is the owner of several professional sports teams, such as NASCAR’s “23XI Racing” team.

In a recent statistical report, Hendrick Motorsport was said to be worth far more than Jordan’s “23XI Racing.”

Jordan’s “23XI Racing” is worth nowhere near the value of Hendrick Motorsport

Hendrick Motorsports is widely considered one of NASCAR’s superpowers. The man behind this legendary team is Joseph Riddick”RickHendrick’s net worth is approximately $1 billion. He is one of the most successful NASCAR car owners with 14 Cup Series titles.

He was inducted into the NASCAR Hall of Fame in 2017 and the Motorsports Hall of Fame in 2020. Hendrick Motorsports currently has a staggering net worth of $315 million. The legendary motorsports company was founded in 1984 and has grown its net worth by $100 million over the past decade.

With an incredible net worth of $2.5 billion, Michael Jordan’s long-time dream of owning a NASCAR team has finally come true. However, the value of his relatively new NASCAR team, 23XI Racing, is nowhere near the value of Hendrick Motorsport.

Michael Jordan’s investment in NASCAR team

In September 2020, Michael Jordan became the majority owner of a NASCAR team called “23XI Racing.” Talented former NASCAR driver Denny Hamlin is one of the minority owners of “23XI Racing”.

As a NASCAR team owner, Jordan secured many sponsors for the team such as Root Insurance, DoorDash, Columbia Sportswear, Dr. Pepper and McDonald’s. In addition to sponsorships, Jordan has invested up to $150 million in NASCAR teams. As a result, the team currently has a net worth of $150 million. Jordan’s investment in NASCAR continues to draw widespread attention to the sport from fans around the world, considering it is a very “new” team.

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