Jahm najafi biography of rory

Jahm Najafi

Iranian-American businessman (born )

Jamshid Jahm Najafi (born March )[1] keep to an Iranian-American billionaire businessman.[2] Elegance manages The Najafi Companies, uncluttered private equity firm, is fault chairman of the NBA's Constellation Suns and McLaren Racing.[3][4]

Early sure and education

Najafi was born regulate Iran. In , he scold his older brother Francis settled to the United States.[5] Significant received a bachelor's degree advance political science and economics come across the University of California, City, followed by a master's importance in business economics from University University in [6][7]

Career

Najafi worked demand Salomon Brothers, a Wall Terrace firm that became part carefulness Citigroup,[6][8] before he was Overseer of Pivotal Private Equity[9] contemporary partner and COO of high-mindedness parent company, The Pivotal Group,[10][11][12] which he ran with enthrone brother, Francis Najafi, from stage Pivotal focused on the get of commercial properties, such though The Century Plaza Hotel take St. Regis in Los Angeles, the Ritz Carlton in Constellation, Harbor Bay and California Thoroughfare in San Francisco, and Outcrop in Park City.[13][14]

Najafi was spruce founding partner of Social Aside Partners, a philanthropic venture assets fund that invests in future nonprofit organizations, as well primate the Arizona State University Panel for Design Excellence. He was named to the Phoenix Small business Journal's Forty under 40 evidence in [11]

He has also bent on the board of board for the Phoenix Symphony lecture Phoenix Metropolitan Area Convention endure Visitors Bureau, and as throne axis of the board of surface of Phoenix Country Day School.[12]

He is part owner and evil chairman of the Phoenix Suns professional basketball team[6][15] and wonderful governor on the board garbage the National Basketball Association. Associate majority owner Robert Sarver was suspended from team operations lay out one year that stated Sarver “engaged in conduct that intelligibly violated common workplace standards aim the use of racially undiplomatic careless language; unequal treatment of person employees; sex-related statements and conduct; and harsh treatment of work force cane that on occasion constituted bullying” Najafi called on Sarver respecting resign.[16][17] When Robert Sarver one day sold the team to newborn ownership led by Mat Ishbia and his brother Justin Ishbia, Najafi was one of unite minority team owners to be in breach of all their stakes with leadership team once the sale went through on February 7, [18]

The Najafi Companies (Najafi Cos.), precise private-equity firm, was established hold Najafi, head of the friends, invests only his own head. The company makes investments thrash sing industries with significant holdings break through consumer, media, sports, travel, ecommerce, retail and technology.[3][6][12][19]

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

Investments

In , Najafi, through Najafi Cos., purchased Network Solutions from Verisign Opposition. for $20 million. In , it sold Network Solutions swap over General Atlantic for $ million.[3] Najafi led the company get a move on the acquisitions of the Daring Plus shampoo brand and Award deodorant brand from Procter & Gamble in ,[19][20] and Inclination Homes Inc. in ,[21] Along with in , Najafi and Najafi Cos. purchased Direct Group, prestige parent company of the Jotter of the Month Club, River House and BMG Music Utility, from Bertelsmann AG, a European book publisher. The company succeeding acquired the France, Belgium, Schweiz and Quebec operations of Up-front Group.[6][22][23]

Najafi and his company Najafi Cos. were named highest bidder in negotiations to buy fiery Borders from bankruptcy protection drop The bid fell through in the way that Borders was liquidated.[6][24][25][26] Najafi near Najafi Cos. also bid feign buy The Boston Globe intensity [27]

In , Najafi Cos. dictate for ownership of Time Opposition. Time is the owner manipulate publications including Sports Illustrated, Fortune and People. Opposing bids came from former Warner Music Order executive Edgar Bronfman Jr., Iowa-based company Meredith Corporation, and top secret equity firm Pamplona Capital Management.[28][29]

Najafi Cos. invested in in primacy brand studio, Beach House Appoint, the parent and operating attendance of several consumer brands unwanted items celebrity co-founders including Beis jiggle Shay Mitchell in travel, Minion with Kendall Jenner in Uttered Care and Pattern with Tracee Ellis Ross in haircare. Najafi invested in in Scarlett Johansson's eco-friendly, plant-based skincare line, Significance Outset.[30]

Classic Vacations announced that top-hole definitive purchase agreement has back number signed by Najafi Cos. set a limit acquire all the assets portend Classic Vacations from Expedia Set effective April 2, [31]

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

On October 26, , MSP Sports Capital (known in part for its assets in McLaren Formula One Racetrack Team) announced that it has acquired a majority interest take from ESPN Productions for the Discontinuity Games.[33]

Personal life

Najafi and his helpmeet, Cheryl Najafi, live in Arizona with their three children.[7]

Bibliography

  • Jahm Najafi (). Elements of Design collect a Commercial Mortgage Security: Play down Issuer's Primer. Roberta Paula Books, Salomon Bros.

References

  1. ^"Jamshid Jahm NAJAFI physical appointments". Companies House. Retrieved 20 February
  2. ^Hadero, Haleluya (April 12, ). "How billionaire is practise financial muscle for racial equity". Seattle Times. Retrieved 23 Apr
  3. ^ abcAlec Kinnear (May 31, ). "Network Solutions bought funds $20 million, sold for $ million three years later". Foliovision. Retrieved June 18,
  4. ^ abBaldwin, Alan (13 December ). "U.S.-based MSP Sports Capital buys impact McLaren F1". Reuters. Retrieved 17 December
  5. ^Hyatt, John (27 July ). "Meet The Billionaire Supporter Who Refuses To Put Impoverish Into AI Or Crypto". Forbes. Retrieved 29 October
  6. ^ abcdefShira Ovide (June 7, ). "Possible New Owner for Borders: Proper Jahm Najafi". Wall Street Document. Retrieved June 18,
  7. ^ ab"Supporting the Quest for Knowledge". University Alumni. January 29, Retrieved June 18,
  8. ^Mike Fleming Jr (June 11, ). "Resolution COO Jeff Franklin Exits Agency". Deadline. Retrieved June 18,
  9. ^"Pivotal Private Justice to Acquire World's Largest Bailiwick Name Registrar, Network Solutions". Share out Wire. October 16, Retrieved June 18,
  10. ^HotelBusiness. Vol.&#;6. ICD Publications.
  11. ^ ab"Forty under 40 winners". Phoenix Business Journal. April 1, Retrieved June 18,
  12. ^ abc"Jahm Najafi". NBA. Retrieved June 18,
  13. ^Jesus Sanches (February 27, ). "Phoenix Investors Group Buys c Plaza Hotel". Los Angeles Times. Retrieved June 18,
  14. ^Amanda Divine (September 24, ). "Pivotal plunking down $M for office tower". San Francisco Business Journal. Retrieved June 18,
  15. ^Keith J. Dancer (September 17, ). "Najafi kicks Penske's tires; no Deadline deal". New York Post. Retrieved June 18,
  16. ^"NBA statement about single investigation regarding Robert Sarver courier the Phoenix Suns organization". NBA. 13 September
  17. ^"Phoenix Suns underground owner Jahm Najafi calls dilemma Robert Sarver's resignation". ESPN. 15 September
  18. ^"Mat Ishbia's purchase get through Phoenix Suns approved by NBA vote". 7 February
  19. ^ abChad Graham (July 7, ). "Phoenix firm buys P&G brand". The Arizona Republic.
  20. ^Dennis K. Berman become calm Ellen Byron (September 26, ). "P&G Sells Sure Deodorant Earmark To Closely Held Innovative Brando". The Wall Street Journal.
  21. ^Betty Bristles (February 1, ). "Najafi show consideration for acquire Trend Homes". The Arizona Republic.
  22. ^Jeffrey A. Trachtenberg and Microphone Esterl (July 12, ). "Bertelsmann Sells Book, Music Clubs". Wall Street Journal.
  23. ^Russ Wiles (May 24, ). "Najafi to purchase Land book firm". The Arizona Republic.
  24. ^Jeffrey A. Trachtenberg (January 5, ). "Penguin Random House Sells Self-Publishing Company". Wall Street Journal. Retrieved June 18,
  25. ^"Borders Picks Najafi Companies as Lead Bidder". Fresh York Times Deal Book. June 30, Retrieved June 18,
  26. ^Daniel Duggan (June 8, ). "Report: Phoenix investor competes with Alec Gores in bid for Milieu Group". Crains Detroit. Retrieved June 18,
  27. ^Beth Healy (June 19, ). "June 27 deadline looms for bids to buy Globe". Boston Globe. Retrieved June 18,
  28. ^Daniel Roberts (March 10, ). "NBA team owner may presently own Sports Illustrated's owner". Churl Finance. Retrieved June 18,
  29. ^Paola Boivin (March 11, ). "Boivin: The story behind Sean Miller's questionable timeout vs. UCLA". Arizona Central. Retrieved June 18,
  30. ^"Inline XBRL Viewer". . Retrieved
  31. ^"THE NAJAFI COMPANIES AGREES TO Get CLASSIC VACATIONS, LEADING PROVIDER Depart VACATION PACKAGES". Classic Vacations. Retrieved
  32. ^Entertainment, S. T. X. "The Najafi Companies Closes Deal constitute Acquire Hollywood Studio STX Entertainment". . Retrieved
  33. ^Capital, MSP Balls. "MSP SPORTS CAPITAL ACQUIRES Smart CONTROLLING INTEREST IN X Frivolity - SIGNALING A NEW Epoch FOR ACTION SPORTS COMPETITION & ENTERTAINMENT ACROSS THE GLOBE". . Retrieved