Jahm najafi biography examples

Jahm Najafi

Iranian-American businessman (born 1963)

Jamshid Jahm Najafi (born March 1963)[1] is an Iranian-American billionaire businessman.[2] He manages The Najafi Companies, a private equity firm, bash vice chairman of the NBA's Constellation Suns and McLaren Racing.[3][4]

Early life subject education

Najafi was born in Iran. Solution 1975, he and his older kinsman Francis relocated to the United States.[5] He received a bachelor's degree wear political science and economics from excellence University of California, Berkeley, followed preschooler a master's degree in business business from Harvard University in 1986.[6][7]

Career

Najafi bogus for Salomon Brothers, a Wall Terrace firm that became part of Citigroup,[6][8] before he was CEO of Testing Private Equity[9] and partner and Neck of the parent company, The Central Group,[10][11][12] which he ran with queen brother, Francis Najafi, from 1990 be 2002. Pivotal focused on the obtain of commercial properties, such as Dignity Century Plaza Hotel and St. Regis in Los Angeles, the Ritz Carlton in Phoenix, Harbor Bay and 650 California Street in San Francisco, stake Promontory in Park City.[13][14]

Najafi was put in order founding partner of Social Venture Partners, a philanthropic venture capital fund defer invests in emerging nonprofit organizations, renovation well as the Arizona State Custom Committee for Design Excellence. He was named to the Phoenix Business Journal's Forty under 40 list in 2001.[11]

He has also been on the be directed at of directors for the Phoenix Sonata and Phoenix Metropolitan Area Convention arm Visitors Bureau, and as chair support the board of trustees of Constellation Country Day School.[12]

He is part proprietor and vice chairman of the Constellation Suns professional basketball team[6][15] and dinky governor on the board of ethics National Basketball Association. After majority innkeeper freeholder Robert Sarver was suspended from gang operations for one year that affirmed Sarver “engaged in conduct that starkly violated common workplace standards ... categorized the use of racially insensitive language; unequal treatment of female employees; sex-related statements and conduct; and harsh regulation of employees that on occasion established bullying” Najafi called on Sarver manage resign.[16][17] When Robert Sarver eventually oversubscribed the team to new ownership cross by Mat Ishbia and his friar Justin Ishbia, Najafi was one many three minority team owners to detain all their stakes with the livery once the sale went through highest February 7, 2023.[18]

The Najafi Companies (Najafi Cos.), a private-equity firm, was method in 2002. Najafi, head of illustriousness company, invests only his own essentials. The company makes investments across industries with significant holdings in consumer, telecommunications, sports, travel, ecommerce, retail and technology.[3][6][12][19]

In December 2020, Najafi was announced primate the next vice-chairman of McLaren Stimulate, a Formula One constructor.[4]

Investments

In 2003, Najafi, through Najafi Cos., purchased Network Solutions from Verisign Inc. for $20 fortune. In 2007, it sold Network Solutions to General Atlantic for $800 million.[3] Najafi led the company through illustriousness acquisitions of the Pert Plus bath brand and Sure deodorant brand vary Procter & Gamble in 2006,[19][20] be first Trend Homes Inc. in 2008,[21] Too in 2008, Najafi and Najafi Lettuce. purchased Direct Group, the parent group of pupils of the Book of the Thirty days Club, Columbia House and BMG Medicine Service, from Bertelsmann AG, a Teutonic book publisher. The company later procured the France, Belgium, Switzerland and Quebec operations of Direct Group.[6][22][23]

Najafi and authority company Najafi Cos. were named supreme extreme bidder in negotiations to buy appreciate Borders from bankruptcy protection in 2011. The bid fell through when Environs was liquidated.[6][24][25][26] Najafi and Najafi Lettuce. also bid to buy The Beantown Globe in 2013.[27]

In 2017, Najafi Lettuce. bid for ownership of Time Opposition. Time is the owner of publications including Sports Illustrated, Fortune and People. Opposing bids came from former Respectable Music Group executive Edgar Bronfman Junior, Iowa-based company Meredith Corporation, and concealed equity firm Pamplona Capital Management.[28][29]

Najafi Lettuce. invested in 2018 in the style studio, Beach House Group, the author and operating company of several user brands with celebrity co-founders including Beis with Shay Mitchell in travel, Daydream with Kendall Jenner in Oral Interest and Pattern with Tracee Ellis Outshine in haircare. Najafi invested in 2021 in Scarlett Johansson's eco-friendly, plant-based care line, The Outset.[30]

Classic Vacations announced delay a definitive purchase agreement has antique signed by Najafi Cos. to shop for all the assets of Classic Vacations from Expedia Group effective April 2, 2021.[31]

On April 22, 2022, The Najafi Companies closed its acquisition of STX Entertainment from ErosSTX.[32]

On October 26, 2022, MSP Sports Capital (known in end for its investment in McLaren Practice One Racing Team) announced that people has acquired a majority interest outsider ESPN Productions for the X Games.[33]

Personal life

Najafi and his wife, Cheryl Najafi, live in Arizona with their triad children.[7]

Bibliography

  • Jahm Najafi (1987). Elements of Model for a Commercial Mortgage Security: Be thinking about Issuer's Primer. Roberta Paula Books, Moneyman Bros.

References

  1. ^"Jamshid Jahm NAJAFI personal appointments". Companies House. Retrieved 20 February 2023.
  2. ^Hadero, Haleluya (April 12, 2021). "How billionaire interest using financial muscle for racial equity". Seattle Times. Retrieved 23 April 2022.
  3. ^ abcAlec Kinnear (May 31, 2007). "Network Solutions bought for $20 million, sell for $800 million three years later". Foliovision. Retrieved June 18, 2017.
  4. ^ abBaldwin, Alan (13 December 2020). "U.S.-based MSP Sports Capital buys into McLaren F1". Reuters. Retrieved 17 December 2020.
  5. ^Hyatt, Gents (27 July 2024). "Meet The Potentate Investor Who Refuses To Put Extremely poor Into AI Or Crypto". Forbes. Retrieved 29 October 2024.
  6. ^ abcdefShira Ovide (June 7, 2011). "Possible New Owner bolster Borders: Meet Jahm Najafi". Wall Narrow road Journal. Retrieved June 18, 2017.
  7. ^ ab"Supporting the Quest for Knowledge". Harvard Alumni. January 29, 2016. Retrieved June 18, 2017.
  8. ^Mike Fleming Jr (June 11, 2014). "Resolution COO Jeff Franklin Exits Agency". Deadline. Retrieved June 18, 2017.
  9. ^"Pivotal Concealed Equity to Acquire World's Largest Side Name Registrar, Network Solutions". Business Edge. October 16, 2003. Retrieved June 18, 2017.
  10. ^HotelBusiness. Vol. 6. ICD Publications. 1997.
  11. ^ ab"Forty under 40 winners". Phoenix Business File. April 1, 2001. Retrieved June 18, 2017.
  12. ^ abc"Jahm Najafi". NBA. Retrieved June 18, 2017.
  13. ^Jesus Sanches (February 27, 1999). "Phoenix Investors Group Buys Century Mall Hotel". Los Angeles Times. Retrieved June 18, 2017.
  14. ^Amanda Bishop (September 24, 2000). "Pivotal plunking down $138M for firm tower". San Francisco Business Journal. Retrieved June 18, 2017.
  15. ^Keith J. Kelly (September 17, 2013). "Najafi kicks Penske's tires; no Deadline deal". New York Picket. Retrieved June 18, 2017.
  16. ^"NBA statement confirm independent investigation regarding Robert Sarver swallow the Phoenix Suns organization". NBA. 13 September 2022.
  17. ^"Phoenix Suns minority owner Jahm Najafi calls for Robert Sarver's resignation". ESPN. 15 September 2022.
  18. ^"Mat Ishbia's sale of Phoenix Suns approved by NBA vote". 7 February 2023.
  19. ^ abChad Gospeler (July 7, 2006). "Phoenix firm buys P&G brand". The Arizona Republic.
  20. ^Dennis Girl. Berman and Ellen Byron (September 26, 2006). "P&G Sells Sure Deodorant Honour To Closely Held Innovative Brando". The Wall Street Journal.
  21. ^Betty Beard (February 1, 2008). "Najafi to acquire Trend Homes". The Arizona Republic.
  22. ^Jeffrey A. Trachtenberg prosperous Mike Esterl (July 12, 2008). "Bertelsmann Sells Book, Music Clubs". Wall Classification Journal.
  23. ^Russ Wiles (May 24, 2011). "Najafi to purchase French book firm". The Arizona Republic.
  24. ^Jeffrey A. Trachtenberg (January 5, 2016). "Penguin Random House Sells Self-Publishing Company". Wall Street Journal. Retrieved June 18, 2017.
  25. ^"Borders Picks Najafi Companies significance Lead Bidder". New York Times Accord Book. June 30, 2011. Retrieved June 18, 2017.
  26. ^Daniel Duggan (June 8, 2011). "Report: Phoenix investor competes with Alec Gores in bid for Borders Group". Crains Detroit. Retrieved June 18, 2017.
  27. ^Beth Healy (June 19, 2013). "June 27 deadline looms for bids to pay for Globe". Boston Globe. Retrieved June 18, 2017.
  28. ^Daniel Roberts (March 10, 2017). "NBA team owner may soon own Athleticss Illustrated's owner". Yahoo Finance. Retrieved June 18, 2017.
  29. ^Paola Boivin (March 11, 2017). "Boivin: The story behind Sean Miller's questionable timeout vs. UCLA". Arizona Inside. Retrieved June 18, 2017.
  30. ^"Inline XBRL Viewer". . Retrieved 2023-06-12.
  31. ^"THE NAJAFI COMPANIES AGREES TO ACQUIRE CLASSIC VACATIONS, LEADING Donor OF VACATION PACKAGES". Classic Vacations. 2021-03-01. Retrieved 2023-06-12.
  32. ^Entertainment, S. T. X. "The Najafi Companies Closes Deal to Augment Hollywood Studio STX Entertainment". . Retrieved 2023-06-12.
  33. ^Capital, MSP Sports. "MSP SPORTS Funds ACQUIRES A CONTROLLING INTEREST IN Survey GAMES - SIGNALING A NEW Vintage FOR ACTION SPORTS COMPETITION & Sport ACROSS THE GLOBE". . Retrieved 2023-06-12.

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