Jahm Najafi is an Iranian-American billionaire businessman and multi-sport chairman who is the chair of MSP Sports Capital. He runs Najafi Companies, a Phoenix-based private-equity firm, and is a partial owner of the Phoenix Suns NBA team. Also, he is the vice-chairman of McLaren’s F1 team. Najafi has three children with his wife Cheryl.
Jahm Najafi started his career in banking. After that, he started his own business. Najafi Companies has invested in a variety of successful businesses including, BMG Music Service, and eventually the Phoenix Suns where he remains a minority shareholder. He is reportedly leading a consortium of investors in a $3.75 billion takeover bid for Tottenham Hotspur, which could make the London-based club the latest team to undergo a change in ownership in the Premier League. As per the reports from the Financial Times and Reuters, he is said to be working with a group of investors to formulate a bid that will be presented to Spurs’ owner Joe Lewis and chairman Daniel Levy. The offer values the club at around $3 billion before adding approximately $750 million of debt.
What is Jahm Najafi’s nationality?
Jahm Najafi was brought into this world by his parents in the year 1963 which makes him the present age of 60 as of 2023. He took birth in Iran. Later, he acquired American citizenship. Najarfi is Iranian-American by nationality whereas he belongs to a mixed ethnic background. His parents live their lives away from the spotlight. He follows the Muslim religion. His family moved to Phoenix when he was 12 years old after they knew someone there.
Jahm got a bachelor’s degree in economics from the University of California, Berkeley. He learned English by watching the Phoenix Suns and he went on to earn a degree in electrical engineering from the University of Texas at Austin. In 1986, he received a master’s degree in business economics from Harvard University. After graduating from the university, he started his career in finance, working for investment firms such as Bear Stearns and PaineWebber.
How did Jahm Najafi start his career?
- Jahm Najafi initially started working for Salomon Brothers, a Wall Street firm that became part of Citigroup before he served as CEO of Pivotal Private Equity and partner and COO of the parent company, The Pivotal Group, which he ran with his brother, Francis Najafi.
- After then, he became a founding partner of Social Venture Partners, a philanthropic venture capital fund that invests in emerging nonprofit organizations, as well as on the board of Urban Land Institute and the Arizona State University Committee for Design Excellence.
- Jahm also serves as partial owner and vice chairman of the Phoenix Suns professional basketball team and a governor on the board of the National Basketball Association.
- After majority owner Robert Sarver was suspended from team operations for one year in September 2022, Najafi was considered a candidate to take on the role of interim team governor for the Suns before the position was ultimately given to Sam Garvin. In addition, Jahm has also served on the board of directors for the Phoenix Symphony and Phoenix Metropolitan Area Convention and Visitors Bureau, and as chair of the board of trustees of Phoenix Country Day School.
- Najafi Companies (Najafi Cos.), a private-equity firm, was established in 2002. He invests only his own capital and he is the head of the company. The company makes investments in companies with transaction values up to $1 billion and holds investments from five to ten years.
- He was announced as the next vice-chairman of McLaren Racing, a Formula One constructor in December 2020.
Who is Jahm Najafi’s wife?
Jahm Najafi is a married man. He tied the knot to his wife, Cheryl Najafi. His spouse, Cheryl is an author, speaker, and businesswoman who is the former CEO of Everyday Dishes & DIY (previously CherylStyle), a lifestyle media company, and author of the New York Times best-selling book “You’re So Invited: Panic Less, Play More, and Get Your Party On!”. Najafi and his wife, Cheryl Najafi, live in Arizona with their three children.
Jahm and Cheryl are the proud parents of three children. They have a son and daughter who are twins, and another daughter.
How Rich is Jahm Najafi?
Jahm Najafi is a businessman and entrepreneur. He is the founder and CEO of Najafi Companies, a private investment firm that focuses on a broad range of industries including consumer media, entertainment, and real estate. In February 2023, Jahm Najafi made major headlines when it was disclosed that, he is preparing to launch a $3.1 billion bid to take over the English Premier League football club, Tottenham Hotspur. He owns the Najafi Companies – which is a Phoenix-based equity firm and his primary source of income.
As of 2023, Jahm Najafi has an estimated net worth of with a net worth of $3.5 billion. Najafi seems to have a number of investors behind him, but it remains to be seen whether or not the takeover attempt is successful at Tottenham. In the year 2003, Najafi, through Najafi Cos., purchased Network Solutions from Verisign Inc. for $20 million. In the year 2007, it sold Network Solutions to General Atlantic for $800 million. In 2008, Najafi and Najafi Cos. purchased Direct Group, the parent company of the Book of the Month Club, Columbia House, and BMG Music Service, from Bertelsmann AG, a German book publisher. Najafi and his company Najafi Cos. were named the highest bidder in negotiations to buy out Borders Group from bankruptcy protection in 2011. The company invested approximately $200 million in Jeff Berg’s talent agency, Resolution after Najafi negotiated the deal in 2013.
In 2014, Najafi, through Najafi Cos., invested between $75 and $100 million in Paula Deen and Paula Deen Ventures to fuel her rebranding after she was fired from The Food Network in June 2013. In 2017, he bid for ownership of Time Inc. through his company, Najafi Cos. On 7 December 2021, Jahm Najafi’s Najafi Companies announced that it had reached an agreement to acquire STX Entertainment from ErosSTX for US$173 million. The deal is subject to a 45-day period where ErosSTX may solicit other offers; if ErosSTX declines the offer, it must pay a $4.5 million breakup fee.