Michael B. Jordan is showing no signs of slowing down after breaking the box office record with his directorial debut, Creed III. He is diversifying his investing portfolio by entering the Formula One industry.
According to Deadline, he has invested in Alpine Formula One team with Wrexham FC owners Ryan Reynolds and Rob McElhenny. It is a collective investment in the Renault-owned team, with a $220 million share in the car racing firm.
Jordan will be one of the few Black Formula One owners thanks to the investment, which will be held by Reynolds’ Maximum Effort Investments company. The other investment firms are RedBird Capital and Fenway Sports Group.
“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.