The net worth of Iranian-American Jahm Najafi has crossed the billions after he became the partial owner of the Phoenix Suns NBA team.
Recently, he exercised his right over the group after he called for his boss Robert Sarver's resignation. The vice president and the second-largest stakeholder penned an open letter to its employees, starting zero tolerance for lewd, misogynistic, and racist conduct inside the walls of their corporation. He added that his ownership over the team does not make him the sole representative and certainly does not give him leeway to get treated differently. He added that they must keep their integrity as sports leaders and treat employees, players, and partners with the utmost respect and prestige.
The NBA conducted a year-long investigation on the abuse allegations during his twenty-year reign as the managing partner of the Suns. There were five occasions of him saying the N-word to players of all skin colors and even passing offensive comments to their female counterparts.
After finding him guilty of his crimes, the association demated a $10 million penalty with a one-year ban from getting allowed at the premises.
Indeed, Jahm has been against the presence from the beginning, as he vocalized his criticism after the news broke by ESPN in November.
Name Jahm Najafi Born 1963 Age 58–59 years Nationality Iranian American Occupation Investor Spouse Cheryl Najafi Children 3
Jahm Najafi Net Worth Is In Billions - His Career Earnings And Assets.
Phoenix Suns' partial owner Jahm Najafi is one of the few Iranians who has made their name on the billionaire's list as his net worth reaches 3.5 billion dollars.
His dealings remain in the private equity firm Najafi Companies, 2002, located in Phoenix. With a transition value of over billions of dollars, he gets his returns in bundles as he is the sole investor. His clients are decades old as he has managed to regain that customer and seller relationship. They have made a name for being extremely selective regarding investment and paying full attention to the types of resources they have in store to enhance their longtime goals. Their interests have diverged into retail, eCommerce, sports, media, and technology, with sections comprised of highly tainted workers to assist future projects.
Before that, he began his career on wall street after working for Salomon Brothers. His skills got him the seat for the CEO of The Pivotal Group, founded by his brother Francis Najafi.
It did not take long for him to realize the infinite profits hiding within commercial properties. He went after The Century Plaza Hotel in Los Angeles, Harbor Bay, and 650 California Street in San Francisco.
Indeed, the NBA team also contributed significant funds to his pockets after he invested $248.5 million and got the second largest stake. A man of his caliber does not sit still with just one company as he dived into investing in 2003.
His vision and intricate mind got them to purchase the Network Solutions from Verisign Inc. for just 20 million dollars and sold it years later with a profit of 780 million dollars.
Besides, he does not mind the industry as he indulged in Beauty and accessories when he acquired the Pert Plus shampoo brand, Sure deodorant, and even the Direct Group.
Najafi Cos saved Borders Group from the brink of bankrupts only to liquate its shares. The capital and ownerships have passed between many origins, with Time Inc, Resolution, ErosSTX, and Meredith Corporation, to name a few.
Jahm Najafi Early Life And Beginnings.
59-year-old Jahm Najafi was born in 1963 as he came from an Iranian Americana lineage. The whereabouts of his parents remain unknown, as well as the primary beginning of his childhood, but we assume he comes from a middle-class family.
He and his brother, Francis Najafi, had a thirst for knowledge, as they bounced ideas off of each other and went on to work together.
As a young kid, he always wanted to join his dream school, Haward University, as he believed it was the first step toward making his aspirations come true. He had just moved to the United States of America at age 12 and had more hopes than a normal individual. He even applied for the undergraduate program but got rejected by the strict admission rates.
From then on, he made it his mission to get into the institution as he believed he could keep up with the course. He did not back down and enrolled at the University of California, Berkeley, where he got a degree in economics.
In 1986, he tried again for a master's degree as he got accepted as a student at the Graduate School of Arts and Sciences. Haward was everything he wanted and more as he learned under the supervision of economists like Richard Caves and Jeffrey Sachs.
The welcoming hugs by other students and faculty members exceeded expectations as he recognized the outwardly teaching and guidance. The lecture challenged him to think beyond his capabilities as it built the foundations which would come in handy in future endeavors.
Indeed, he called his experience unreal as he discovered how different his life would be if he did not take a leap of faith and try for a second time.
Jahm Najafi Wife And Family- Does He Have Kids?
Billionaire investor Jahm Najafi has been happily married to his wife Cheryl Najafi, as they live at their residence in Arizona. The coupling also resulted in three kids who remain hidden from the spotlight.
But we know the eldest pairs are twins, a son and a daughter, while her third child is a girl.
The lady needs no introduction as she is a speaker and CEO of Everyday Dishes & DIY, a lifestyle media company. It was named CherylStyle, but the brand did not catch on as she had to re-establish it under another title. Her undivided capacity shone through when she became the New York Times author of her best-selling book You're So Invited: Panic Less, Play More, and Get Your Party On! The literature gives tips and tricks on etiquette, followed by a second book, Mother Daughter Dishes: Reinventing Loved Classics in 2014.
The couple shares a common adoration for philanthropy as she founded an inclusivity clothing company called LoveOverH8.com after President Donald Trump's travel ban. Being an advocate for social justice causes, she ensured that ten dollars of each product sold would be redistributed to their chosen charity. Her thoughts aligned with her husband's as he founded Social Venture Partners, a philanthropic venture capital fund that supports budding nonprofits.
Later, the pair returned to GSAS to give financial aid as graduation presents to students who were expanding human thought through research. Under the guidance of Dean Xiao-Li Meng, they also donated to the Harvard Horizons program as they worked together to improve their pupil. His desire to return to Cambridge may not get supported within schedules, but he hoped to provide some help to their efforts as the school pushes people beyond their comfort zones.