Jahm Najafi
Jahm Najafi | |
|---|---|
| File:Najafi 082814.jpg | |
| Born | Template:Birth year and age |
| Nationality | Iranian-American |
| Education | University of California, Berkeley Harvard University |
| Occupation | Investor |
| Known for | Vice chairman of the Phoenix Suns |
| Spouse | Cheryl Najafi |
| Children | 3 |
Jamshid Jahm Najafi (born March 1963) is an Iranian-American billionaire entrepreneur. He oversees The Najafi Companies, a private equity firm, and holds the position of vice chairman for both the NBA's Phoenix Suns and McLaren Racing.
Early life and education
Born in Iran, Najafi moved to the United States in 1975 alongside his brother Francis. He completed his undergraduate studies in political science and economics at the University of California, Berkeley, then earned a master's degree in business economics from Harvard University in 1986.
Career
Najafi’s professional journey started at Salomon Brothers. He later became CEO of Pivotal Private Equity and partner/COO at The Pivotal Group, which he co-managed with his brother from 1990 until 2002. Their firm specialized in acquiring commercial real estate, including properties such as The Century Plaza Hotel and St. Regis in Los Angeles, the Ritz Carlton in Phoenix, as well as key assets in San Francisco.
He co-established Social Venture Partners, a philanthropic venture capital fund dedicated to supporting nonprofit organizations. Additionally, Najafi has served on several boards, including those of the Phoenix Symphony and Phoenix Country Day School. In 2001, he was honored on the Phoenix Business Journal's Forty under 40 list.
Najafi is a minority owner and vice chairman of the Phoenix Suns and participates on the NBA board of governors. Amid misconduct allegations against majority owner Robert Sarver, Najafi advocated for Sarver’s resignation. After Sarver sold the franchise in 2023 to Mat Ishbia’s ownership group, Najafi maintained his minority stake.
The Najafi Companies, established in 2002, deploys its own capital exclusively across sectors such as consumer goods, media, sports, travel, ecommerce, retail, and technology. In December 2020, Najafi assumed the role of vice chairman at McLaren Racing, a Formula One team.
Investments
In 2003, Najafi Companies purchased Network Solutions for $20 million and later sold it for $800 million in 2007. Najafi has led acquisitions including Procter & Gamble’s Pert Plus shampoo and Sure deodorant brands in 2006; Trend Homes Inc. in 2008; and Direct Group—the parent company of Book of the Month Club and Columbia House—from Bertelsmann AG also in 2008.
Najafi Companies submitted the highest bid to acquire Borders during its bankruptcy auction in 2011; however, the deal did not proceed as Borders eventually liquidated. The firm also placed bids on The Boston Globe in 2013 and on Time Inc., owner of Sports Illustrated and Fortune, in 2017.
In 2018, Najafi Companies invested in Beach House Group, which manages consumer brands founded by celebrities such as Beis (travel), Moon (oral care), and Pattern (haircare). In 2021, it backed Scarlett Johansson’s environmentally conscious skincare brand The Outset.
Najafi Companies acquired Classic Vacations from Expedia Group effective April 2021 and completed the purchase of STX Entertainment from ErosSTX in April 2022.
In October 2022, MSP Sports Capital—partially owned by Najafi—secured majority ownership from ESPN Productions of the X Games, broadening its presence within action sports entertainment.
Personal life
Najafi lives in Arizona with his spouse, Cheryl Najafi, and their three children.