Michael Jordan and Denny Hamlin’s 23XI empire: A look at their combined financial impact since co-owing new NASCAR team

When Michael Jordan and Denny Hamlin launched 23XI Racing, they promised more than just celebrity buzz. They promised results. That vision gained tangible weight when 23XI driver Tyler Reddick illustrated marquee wins at the Daytona 500 and Atlanta, two cornerstone events on the NASCAR calendar. These wins validated the ownership model and increased the financial trajectory of the team. Six years after its founding, 23XI Racing is one of the most commercially influential organisations in the sport, a mix of Jordan’s global brand equity and Hamlin’s garage-level expertise.

Jordan entered NASCAR already operating in rare financial air. According to reports, Michael Jordan’s net worth is in the $3 billion range, much of this coming from the Jordan Brand’s partnership with Nike and from previous NBA ownership stakes. His move into NASCAR did not define his wealth – but it diversified it. Meanwhile, Hamlin’s financial profile has been steadily growing since the launch of 23XI. Industry trackers peg his personal net worth at $65 million to $80 million, developed from Cup Series salary, race winnings, and endorsements. As a longtime Joe Gibbs Racing driver, Hamlin reportedly receives multi-million-dollar compensation on a yearly basis in addition to sponsorship partnerships with brands such as FedEx and Jordan Brand. The development of 23XI added the equity layer to Hamlin’s portfolio. NASCAR charter values have skyrocketed over the past few years. According to Sports Business Journal, charters that used to sell for less than $10 million have a price tag of $30 million or more. That appreciation has a significant impact on enhancing team valuation and ownership equity.

Tyler Reddick’s wins in Daytona and Atlanta amplified more than just headlines. Crown-jewel race wins drive up sponsorship pricing power and heighten exposure in the media. With the Daytona 500 win, 23XI acquired high-profile partners like Monster Energy and McDonald’s, driving up their commercial credibility. Top teams in NASCAR can earn tens of millions a year through sponsorships, prize money, and revenue-sharing contracts.

While Jordan’s fortune pales in comparison to the revenues of the owner of a team in the National Association for Auto Racing, 23XI is strategic growth in a growing asset class. For Hamlin, the team is about long-term ownership wealth, in addition to driving income. Combined Jordan and Hamlin’s estimated net worth is more than $3.1 billion, with 23XI Racing helping to diversify its portfolio and improve the value of its assets since 2020. In modern day, Nascar Ownership is as important as horsepower. Through 23XI Racing, Jordan and Hamlin have created not just a team, but a scalable sports enterprise that’s set up for a sustained acceleration of financial growth.