Jahm Najafi | $1B+
Get in touch with Jahm Najafi | Jahm Najafi, Iranian-American investor and philanthropist, is the founder and CEO of The Najafi Companies, a private equity firm specializing in consumer, media, sports, and technology investments. Based in Phoenix, he has built a reputation for long-term, values-driven investing, with notable stakes in ventures such as the Phoenix Suns, McLaren Racing, and other high-profile brands. Najafi also serves as vice chairman of the Phoenix Suns and is recognized for his thoughtful leadership style, combining strategic acumen with a strong commitment to social impact and community development.
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Jahm Najafi (born 1963) is an Iranian-American billionaire investor based in Phoenix, Arizona, who founded The Najafi Companies, an entrepreneurially driven private investment firm, in 2002.[1][2]
Immigrating from Iran to the United States as a child, Najafi learned English by watching Phoenix Suns games and later earned a bachelor's degree in economics from the University of California, Berkeley, before working on Wall Street and launching his firm focused on selective, long-term investments across consumer, media, sports, and technology sectors without external capital.[1][3][1]
Key holdings include a 10% stake in the Phoenix Suns—acquired for $43 million in 2009 and now valued at approximately $400 million—where he serves as vice chairman and publicly called for majority owner Robert Sarver's resignation in 2022 amid allegations of workplace misconduct that prompted an NBA investigation, as well as minority investments in McLaren Racing since 2020 and the X Games.[1][4][1]
Najafi's approach emphasizes intellectual humility, curiosity, and partnerships with entrepreneurial teams in transforming industries, while he and his wife Cheryl have committed via The Giving Pledge to donate the majority of their wealth to charitable causes, including a $10 million contribution to the NBA Foundation.[2][3][5]
Early Life and Education
Childhood and Immigration to the United States
Jahm Najafi was born in Iran in 1963.[6][7]
His family immigrated to the United States when he was 12 years old, settling in Phoenix, Arizona.[1][8] Upon arrival, Najafi did not speak a word of English, which presented initial challenges in adapting to his new environment.[9][10]
Academic Background and Initial Influences
Jahm Najafi immigrated from Iran to the United States in 1975 at age 12, arriving in Phoenix, Arizona, without proficiency in English.[9] He learned the language primarily by watching Phoenix Suns basketball games on television, an experience that fostered an early interest in American sports culture and self-reliance amid cultural adaptation challenges.[11] This formative period, marked by modest living conditions in a one-bedroom apartment, instilled a pragmatic work ethic influenced by his immigrant family's emphasis on opportunity in the U.S.[9]
Najafi pursued higher education at the University of California, Berkeley, earning a bachelor's degree in economics and development studies.[12] His undergraduate studies focused on economic principles and developmental frameworks, providing foundational knowledge in market dynamics and resource allocation that later informed his investment approach.[1] Following Berkeley, he obtained a Master of Business Economics from Harvard University in 1986, deepening expertise in business strategy and economic analysis through rigorous quantitative and case-based coursework.[13] [14]
Initial intellectual influences during this academic phase stemmed from exposure to classical economic theories and real-world applications, shaped by his brother's earlier U.S. immigration and business pursuits, which highlighted entrepreneurial paths over traditional stability.[15] Najafi's progression from non-English speaker to advanced degree holder reflected causal drivers like personal determination and access to American merit-based systems, rather than institutional favoritism, underscoring empirical patterns of immigrant success through skill acquisition.[16] No specific academic mentors or publications from this era are documented in available records.
Business Career
Early Professional Roles
After earning his master's degree from Harvard University in 1986, Najafi began his professional career in investment banking at Salomon Brothers, a prominent Wall Street firm later acquired by Citigroup.[17][18] His tenure there focused on financial services and deal-making in the late 1980s, providing foundational experience in high-stakes transactions before departing in 1990.[17]
In 1990, Najafi returned to Phoenix and partnered with his older brother, Bahman Najafi, at the Pivotal Group, a private investment firm initially centered on real estate opportunities.[17][1] He served as chief operating officer and partner from 1990 to 2002, overseeing operations and expanding the firm's portfolio amid the post-recession recovery in commercial properties.[8] During this period, Pivotal Group managed acquisitions and developments, leveraging Najafi's Wall Street acumen to navigate market cycles in sectors like office and retail spaces.[17] This role marked his shift toward direct investment management and operational leadership in alternative assets.[1]
Founding and Expansion of The Najafi Companies
The Najafi Companies was founded in 2002 by Jahm Najafi as an entrepreneurially driven private investment firm headquartered in Phoenix, Arizona.[2] Prior to its establishment, Najafi had gained experience on Wall Street at Salomon Brothers and served as CEO of Pivotal Private Equity and partner and COO at his brother Francis Najafi's parent company, The Pivotal Group, a real estate-focused firm.[1][19] The firm operates without traditional fund constraints, funding investments through internally generated capital to enable flexible, opportunistic deal-making across industries such as consumer products, media, technology, sports, and e-commerce.[2][20]
Expansion of the firm has centered on building a concentrated portfolio of long-term holdings via selective acquisitions and minority stakes, often targeting undervalued assets during market dislocations.[17] A pivotal early transaction was the 2003 acquisition of Network Solutions, a domain registrar, for $100 million, which was sold in 2007 for $800 million, yielding substantial returns that bolstered the firm's capital base.[1] In 2009, Najafi Companies acquired a 10% stake in the NBA's Phoenix Suns for approximately $43 million, a position now valued at around $400 million amid rising franchise valuations.[17] Post-2008 financial crisis opportunities included purchasing Trend Homes, later sold in 2012 for significant gains, demonstrating the firm's strategy of capitalizing on distressed assets.[17]
Geographically, the firm has grown beyond Phoenix to include offices in New York and Paris, facilitating broader deal sourcing and international investments.[2] Its investment approach emphasizes partnership with strong management teams, flexible structures up to $1 billion in transaction value, and a "Board of Debaters" oversight model to foster rigorous decision-making, avoiding speculative sectors like AI or cryptocurrency in favor of proven, resilient businesses.[2][21] This disciplined expansion has sustained the firm's focus on high-conviction bets, with ongoing holdings in entities like StubHub, Pattern Beauty, and McLaren Racing.[2]
Investment Philosophy and Strategies
The Najafi Companies, founded by Jahm Najafi in 2002, operates as an entrepreneurially driven private investment firm that eschews traditional fund structures, instead funding investments through internally generated capital to maintain flexibility and alignment with long-term goals.[2] This approach enables a strategy of concentration rather than diversification, directing full resources and attention toward a limited number of high-conviction opportunities, typically with transaction values up to $1 billion across sectors such as consumer products, media, sports, and technology.[2] The firm prioritizes partnerships with world-class entrepreneurial management teams, emphasizing collaborative oversight through a "Board of Debaters" model that fosters intellectual humility, curiosity, and internal motivation among participants.[2]
Najafi's philosophy centers on principled, nimble decision-making rooted in fundamental business strengths, including robust earnings per share growth, sustainable dividends, and enduring customer demand, while avoiding speculative trends lacking clear expertise or ethical alignment.[17] He explicitly steers clear of investments in artificial intelligence or cryptocurrencies, citing insufficient understanding and a preference for tangible, technology-resistant value creation that he can justify personally, such as stating, "I don't invest in anything I can't tell my kids about with a straight face."[17] This extends to rejecting industries like payday lending or gambling, focusing instead on companies offering genuine value-add products and prioritizing customer satisfaction as a causal driver of long-term profitability.[17]
Opportunistic timing forms a core strategy, capitalizing on economic or industry dislocations—such as market bubbles bursting—to acquire undervalued assets at distressed prices, followed by operational improvements to realize compounded returns during recoveries.[17] Examples include the 2000 purchase of Network Solutions for $100 million, transformed into an online services provider with EBITDA tripled before its $800 million sale in 2007, and the 2009 acquisition of Trend Homes amid the housing crash.[17] In sports and entertainment ventures, this manifests as active stewardship emphasizing competitive balance, strong leadership, and sustainable value for stakeholders like fans and athletes, rather than passive holding.[22] The overarching mission integrates financial success with societal benefit—"do well and do good"—through creative deal structuring and relationship-driven engagements that support management in navigating challenges.[2]
Key Investments and Deals
Media, Publishing, and Consumer Brands
In 2008, The Najafi Companies acquired Direct Group North America from Bertelsmann AG, encompassing direct-to-consumer operations including the Book-of-the-Month Club, Columbia House, and other media clubs focused on books, music, and DVDs, which were reorganized under Direct Brands.[23][24] This portfolio expanded in 2012 with the acquisition of SkyMall, a multichannel specialty retailer and loyalty program provider for in-flight and travel media catalogs.[25] In February 2013, Najafi sold its majority interest in Direct Brands to Pride Tree Holdings, retaining a minority stake amid a strategic shift toward other entertainment sectors.[26][27]
The firm entered the self-publishing sector in December 2015 by purchasing Author Solutions from Penguin Random House for an undisclosed sum; the division, originally acquired by Penguin for $116 million in 2012, specialized in supported self-publishing services for independent authors.[28][29] Author Solutions operated globally, providing editing, distribution, and marketing packages to over 150,000 authors annually at the time of acquisition.[28] Najafi held the asset until March 2025, when it sold Author Solutions to Center Street Ventures, a firm focused on publishing and media services.[30][31]
In media, Najafi Companies closed a deal in April 2022 to acquire STX Entertainment, a film and television studio known for titles like Bad Moms and Hustlers, from struggling creditors in a restructuring transaction valued at an undisclosed amount but involving significant debt assumption.[32]
For consumer brands, the firm invested in Beach House Group around 2018, a brand studio developing direct-to-consumer products with celebrity co-founders, such as skincare and beauty lines; additional funding alongside Monogram Capital Partners in August 2020 supported expansion of its portfolio.[33] Earlier, through portfolio company Innovative Brands LLC, Najafi acquired Pert Plus shampoo and Sure deodorant brands from Procter & Gamble and agreed to sell them in March 2010 to focus on higher-growth consumer products.[34] In January 2024, Najafi made a strategic investment in Cedar Crest Capital, a firm specializing in consumer brands and e-commerce.[35]
Sports and Entertainment Ventures
In 2009, Jahm Najafi acquired a minority stake of approximately 10% in the NBA's Phoenix Suns for an estimated $43 million, a position that has since appreciated to around $400 million in value.[1] As vice chairman and the team's second-largest investor behind former majority owner Robert Sarver, Najafi publicly called for Sarver's resignation in September 2022 following an NBA investigation into workplace misconduct allegations, emphasizing the need for ethical leadership to protect the franchise's integrity.[4] He retained his stake after the Suns' sale to Mat Ishbia in February 2023 and committed $10 million to the NBA Foundation in March 2021 to support economic empowerment programs for Black communities.[36][5]
Najafi co-founded MSP Sports Capital in 2019 with Jeff Moorad, a firm focused on equity and credit investments in global sports teams, leagues, and related businesses, leveraging operational expertise from its principals' prior roles in Major League Baseball and the NBA.[37] In October 2022, MSP acquired a controlling interest in the X Games, aiming to revitalize the action sports platform through enhanced competition and entertainment formats, including the launch of a forthcoming X Games League.[38] The firm also invested in McLaren Racing, committing £185 million starting in December 2020 for an initial 15% stake that could expand to 33%, with Najafi serving as vice chairman of the board until MSP sold its holdings back to McLaren Group Limited in September 2025 at a $5 billion valuation for the racing entity.[39][1] Additionally, MSP has taken minority stakes in several European football clubs, including alongside investor David Blitzer, such as in Germany's FC Augsburg, to capitalize on growth in the sector.[1]
In the entertainment sector, Najafi Companies completed the acquisition of STX Entertainment on April 22, 2022, purchasing the film and television studio from ErosSTX for $173 million after separating it from the parent entity.[32][40] STX, known for producing mid-budget films such as Bad Moms (2016) and Hustlers (2019), had faced financial challenges post-merger with Eros International, prompting the sale; under Najafi's oversight, the studio continues operations in content production and distribution.[41]
Recent Transactions and Exits (2020s)
In December 2020, MSP Sports Capital, where Jahm Najafi serves as a partner and chairman, led a $300 million investment for a 33% minority stake in McLaren Racing, the entity overseeing McLaren's Formula 1, IndyCar, and endurance racing operations.[42][1]
The Najafi Companies acquired Classic Vacations, a provider of luxury vacation packages serving a network of over 10,000 U.S. travel advisors, from Expedia Group effective April 2, 2021.[43]
On April 22, 2022, The Najafi Companies completed its acquisition of STX Entertainment, a Hollywood film and television studio known for titles like Bad Moms and Hustlers, in a transaction valued at approximately $158 million, including the assumption of certain liabilities after an initial bid of $173 million.[40][44][41]
In June 2025, The Najafi Companies participated in funding for Moon Oral Beauty, a consumer brand focused on oral care products.[45]
On September 2, 2025, MSP Sports Capital divested its stake in McLaren Racing to McLaren Group Limited, with Najafi and other partners vacating their board seats; terms of the transaction were not publicly disclosed.[46][47]
Also on September 2, 2025, The Najafi Companies sold Classic Vacations to TBO, an India-based travel technology firm, in a deal valued at up to $125 million, marking a roughly four-year hold following the 2021 acquisition.[48][49]
Philanthropy and Social Initiatives
Establishment of Social Venture Partners
Jahm Najafi served as a founding partner of Social Venture Partners Arizona, a philanthropic organization that applies venture capital methodologies to nonprofit investments by pooling member funds and delivering both capital and strategic guidance to high-potential social enterprises.[50][19] The Arizona chapter, part of the broader Social Venture Partners network originating in Seattle in 1997, was established in 1999 under the leadership of Jerry Hirsch, with Najafi contributing to its early formation as a mechanism for engaged philanthropists to support community initiatives in areas such as education, health, and economic development.[51]
This model emphasizes due diligence, performance metrics, and active involvement, mirroring private equity practices to maximize social returns rather than relying on traditional grantmaking.[50] By 2022, the organization had facilitated over $5 million in grants, focusing on scalable solutions for underserved populations in Arizona.[52] Najafi's participation aligned with his broader investment philosophy of deploying resources efficiently toward measurable outcomes, extending his business acumen into philanthropy without diluting accountability standards typical of nonprofit sectors.[53]
Racial Equity and Activism Efforts
In response to the racial justice protests following George Floyd's death in 2020, Najafi increased his focus on initiatives aimed at addressing racial inequities.[9] He partnered with former NFL quarterback Colin Kaepernick in February 2021 to co-found Mission Advancement Corp., a special purpose acquisition company (SPAC) targeting investments in businesses advancing social justice, racial equity, and diversity, with plans to raise approximately $250 million through an initial public offering.[54] The venture sought to identify and acquire companies that promote economic mobility and systemic change for underrepresented communities, though it debuted modestly on public markets in March 2021, raising $300 million in total sponsorship.[55]
Najafi and his wife, Cheryl, committed $10 million to the NBA Foundation on March 31, 2021, as vice chairman of the Phoenix Suns, to support programs fostering economic empowerment in Black communities, including job training, mentorship, and small business development.[5] This donation aligned with the foundation's launch by NBA owners and players to address disparities highlighted by ongoing social justice campaigns.[56] Additionally, the couple provided major funding for the "Twin Flames: The George Floyd Uprising from Minneapolis to Phoenix" exhibition at the Arizona State University Art Museum, which documented the 2020 protests and their local impacts, in collaboration with Black Lives Matter Phoenix Metro.[57]
Amid allegations of workplace racism against Suns owner Robert Sarver in 2021 and 2022, Najafi publicly advocated for accountability, stating in September 2022 that there could be "no tolerance" for such conduct and calling for Sarver's resignation to uphold standards of racial equity in the organization.[58] He reiterated support for the NBA's racial equality and social justice efforts, expressing shock at the claims while emphasizing the need for cultural reform in sports ownership.[59] These actions positioned Najafi as an active participant in leveraging his business influence for racial progress, though outcomes like the SPAC's limited post-debut activity underscored challenges in scaling impact-driven investments.[54]
Health and Neurological Research Support
Jahm Najafi has supported neurological research by directing donations in lieu of personal gifts for his 60th birthday to Neuro Night, a fundraising event organized by the Barrow Neurological Foundation to benefit research initiatives at the Barrow Neurological Institute, a leading center for neuroscience studies including brain tumors, epilepsy, and movement disorders.[60]
In collaboration with his wife, Cheryl Najafi, a member of the Barrow Neurological Foundation's Board of Trustees, Najafi has contributed to advancing the institute's mission through philanthropic involvement, with the family recognized for their "incredible impact" on neuroscience research, education, and patient care.[61] [62]
The Najafi family's efforts were highlighted in 2025 when the Barrow Neurological Foundation received the Global Citizen Award, with specific congratulations to Jahm and Cheryl Najafi for elevating Phoenix's profile through their support of the foundation's work in neurological advancements.[63] [64] This aligns with Najafi's broader commitment as a Giving Pledge signatory, though his direct contributions emphasize operational support to institutions like Barrow rather than general endowments.[15]
Political Involvement and Views
Campaign Donations and Partisan Leanings
Jahm Najafi's political contributions, as tracked by the Federal Election Commission, predominantly support Democratic candidates and organizations. From 1992 to at least 2018, Najafi and his wife Cheryl donated $186,890 to Democratic groups and candidates, reflecting a consistent pattern of partisan giving.[65] Specific examples include $5,400 to Kyrsten Sinema's U.S. Senate campaign in 2018, at a time when Sinema identified as a Democrat.[65]
In the 2007-2008 election cycle, Najafi contributed to the Democratic Party of Arizona PAC among other recipients, part of a broader $50,600 in total political donations that year.[66][67] By 2010, his contributions totaled $5,800, continuing the emphasis on Democratic-leaning recipients.[68] Additionally, in 2017, he gave $2,500 through Suns Legacy Partners LLC to the Iranian American PAC, a group advocating for policies often aligned with Democratic foreign policy stances on Iran.[69]
While the bulk of Najafi's donations favor Democrats, records show limited support for Republicans, including contributions to John McCain's campaigns and $110 to Republican state candidate Kris Mayes in 2004.[70] This bipartisan element is minor compared to Democratic totals, indicating primary alignment with the political left, though no public statements explicitly declare a party affiliation. OpenSecrets data contrasts Najafi's giving with that of his brother Francis, who has directed more funds toward Republican causes.[71]
Positions on Domestic and International Issues
Najafi has expressed strong opposition to racism, sexism, and bias in professional environments, advocating for zero tolerance of discriminatory actions. In September 2022, following an NBA-commissioned investigation that substantiated allegations of lewd, misogynist, and racist conduct by Phoenix Suns majority owner Robert Sarver, Najafi, as the team's vice chairman, publicly called for Sarver's resignation in an open letter to employees and players. He stated that such behavior has "no place in our society" and emphasized that it should not be tolerated due to "wealth and privilege," arguing it could mislead future generations into accepting discrimination.[72]
On broader domestic social issues, Najafi has supported initiatives promoting diversity, equity, and inclusion (DEI), particularly in response to the 2020 racial justice protests. In 2021, he partnered with former NFL player Colin Kaepernick to launch Mission Advancement Corp., a special purpose acquisition company (SPAC) targeting up to $287 million to acquire firms embedding DEI principles, with a fully diverse board and advisory group. He pledged an additional $10 million to the NBA Foundation's $300 million, 10-year fund aimed at economic empowerment in Black communities through job readiness and placement programs for Black youth. Najafi described this shift from anonymous to public philanthropy as driven by a need to prioritize DEI following national events.[9]
Regarding international issues, Najafi has voiced optimism about Ukraine's post-war recovery potential. In a July 2024 interview, he highlighted Ukraine as a "fascinating" investment opportunity due to anticipated trillions in reconstruction capital, praising its "resilient nation and resilient people" and technological prowess. He identified ongoing conflicts in Ukraine, alongside U.S.-China tensions and the situation in Israel, as key geopolitical risks creating the most uncertain environment since World War II. Najafi has also expressed concern over political uncertainties in the U.S. and Europe that could undermine liberal market principles and democratic norms.[17]
Controversies and Criticisms
Questionable Business Associations
In 2014, the Najafi Companies invested between $75 million and $100 million in Paula Deen Ventures, a new entity formed to revive the career of celebrity chef Paula Deen following her dismissal from the Food Network amid allegations of using racial slurs and maintaining a workplace tolerant of racist behavior, including jokes about racial stereotypes and plans for a plantation-themed wedding.[73][74] The investment, announced as enabling Deen to shift from licensing to direct ownership in food, media, and restaurant ventures, drew scrutiny for associating Najafi with a figure whose conduct involved explicit racial insensitivity, contrasting with his later public commitments to racial equity initiatives.[75][76]
The Najafi Companies acquired Author Solutions in 2016 from Penguin Random House for an undisclosed sum, inheriting a self-publishing platform plagued by complaints of deceptive marketing, substandard editing and production quality, delayed royalties, and aggressive upselling tactics that critics likened to predatory practices targeting aspiring authors.[28] Prior to the sale, Author Solutions faced a class-action lawsuit from authors alleging fraud and breach of contract, settled out of court in 2015 for $250,000 plus changes to business practices, though persistent issues with customer service and author dissatisfaction continued under Najafi's ownership until its resale in 2025.[77][78]
Najafi facilitated the 2017 acquisition of the for-profit Education Management Corporation's (EDMC) Art Institutes chain by the nonprofit Dream Center Foundation, providing a $500 million loan through his firm to fund the $495 million purchase price in a transaction critics viewed as a "dubious conversion" designed to reclassify for-profit operations as nonprofit to evade federal revenue caps and gain access to Title IV student aid while retaining private profit extraction.[79][80] The deal, scrutinized in a 2020 Government Accountability Office report on risky conversions, led to accreditation challenges, misleading disclosures to students about program viability, rapid campus closures displacing thousands of enrollees by 2018, and financial distress for Dream Center, with Najafi's loan reimbursable plus interest from future revenues.[81][79] These associations raised concerns over prioritizing financial maneuvers over student outcomes in an industry marked by high default rates and regulatory evasion.
Philanthropic and Political Entanglements
Najafi's philanthropic efforts in racial equity have intersected with politically charged activism, notably through his 2021 partnership with Colin Kaepernick to establish the Mission Advancement Initiative, a fund investing in Black-owned businesses and community organizations to address economic disparities.[50] The initiative raised $287 million in commitments from investors, focusing on scalable enterprises in underserved areas, but the collaboration drew scrutiny due to Kaepernick's prior high-profile protests against law enforcement and his expressed positions on systemic issues, which opponents have characterized as fostering division rather than unity.[9] This alignment reflects a broader pattern where Najafi's giving emphasizes identity-focused interventions, potentially amplifying partisan narratives amid his documented support for Democratic causes.
Complementing this, Najafi pledged $10 million to the NBA Foundation in March 2021—$1 million annually over a decade—to bolster job training and economic mobility programs for Black youth, tying directly to his role as Phoenix Suns vice chairman.[5] While framed as outcome-driven philanthropy, the initiative's emphasis on racial equity parallels progressive policy priorities, coinciding with Najafi's political contributions, such as $50,600 in 2008 to Democratic entities and $2,500 in 2017 to the Iranian American PAC, which backs candidates advancing Iranian-American community interests.[67] [69] Such overlaps have prompted questions about whether philanthropic capital serves empirical advancement or subsidizes advocacy with ideological undertones, particularly given the NBA Foundation's origins in response to 2020 social unrest.[15]
These entanglements extend to Najafi's signing of the Giving Pledge in December 2023 alongside his wife Cheryl, committing the majority of their wealth to causes like employment advancement, yet routed through direct grants to organizations with activist leanings.[3] [15] Critics, including those skeptical of corporate social initiatives, contend that billionaire-led funds like these often prioritize signaling over measurable causal impacts, as evidenced by limited public data on long-term outcomes from similar equity-focused ventures. Najafi maintains a focus on verifiable results, avoiding donor-advised funds in favor of operational nonprofits.[15]
Sports Ownership Disputes
In September 2022, Jahm Najafi, vice chairman and second-largest minority owner of the Phoenix Suns NBA franchise, publicly called for majority owner Robert Sarver's resignation following an NBA investigation into allegations of workplace misconduct. The probe, initiated after an ESPN report in November 2021 detailed Sarver's repeated use of the N-word at least five times and misogynistic behavior toward female employees, including unequal treatment and sex-related comments.[4][82] In an open letter to Suns employees and players dated September 15, 2022, Najafi stated there should be "zero tolerance" for lewd, misogynistic, or racist conduct, asserting that ownership status does not excuse such actions and urging Sarver to step down to uphold standards for future generations.[4][58]
The NBA's investigation, completed on September 13, 2022, substantiated multiple instances of misconduct, resulting in a one-year suspension and $10 million fine for Sarver, though he retained ownership rights and did not immediately resign.[4] Najafi's stance contrasted with earlier responses from some Suns minority owners; in November 2021, twelve of the team's eighteen minority stakeholders, including figures like Larry Fitzgerald, disputed ESPN's portrayal of a toxic culture under Sarver, though Najafi's specific position in that group remains unconfirmed in public records.[83] Sarver announced the team for sale in late September 2022, amid ongoing pressure from players, sponsors like PayPal, and stakeholders including Najafi, who expressed no interest in expanding his stake but emphasized the need for a successor prioritizing respect toward employees, fans, and players.[84][85]
The Suns sale process, valued at around $4 billion and finalized in February 2023 to Mat Ishbia, faced scrutiny over potential conflicts of interest involving investment banker Navid Mahmoodzadegan of Moelis & Co., hired to advise Sarver. Potential buyers raised concerns that Mahmoodzadegan's advisory role for Najafi could bias the process toward bidders favored by him rather than the highest offer, straining negotiations despite Sarver's fiduciary duty to maximize value for all owners, including Najafi.[84][86][87] No formal resolution to these buyer objections was publicly detailed, but the transaction proceeded without Najafi assuming majority control.[84]
Separately, Najafi's MSP Sports Capital faced tangential friction in Premier League club Everton's ownership saga in 2024, amid the collapse of 777 Partners' attempted takeover. Reports highlighted a dispute between 777 and MSP, though Everton's representatives maintained it was unrelated to the club's financing and did not directly implicate Najafi in ownership claims or tests. MSP had explored a minority stake earlier but did not advance to controlling interest.[88]
Personal Life
Family and Relationships
Jahm Najafi is married to Cheryl Najafi, an American author, speaker, and entrepreneur known for her work in lifestyle branding and social causes.[3][89] The couple has three children: a set of twins (one son and one daughter) and another daughter.[90] As of 2018, the twins were 18 years old and the younger daughter was 17.[90]
The family resides in Paradise Valley, Arizona.[1] Najafi and his wife have collaborated on philanthropic efforts, including signing the Giving Pledge in 2023 to commit the majority of their wealth to charitable causes.[3][15] No public records indicate prior marriages or additional relationships for Najafi.[1]
Residences, Lifestyle, and Net Worth
Najafi primarily resides in Paradise Valley, Arizona, an affluent suburb of Phoenix known for its high-end properties and proximity to business interests in the region.[1] He previously owned a home in the same area, sold in 2014 for $4.25 million.[91]
Details on Najafi's personal lifestyle remain limited in public records, consistent with his focus on private equity and sports investments rather than high-profile social activities. Married to Cheryl Najafi, a businesswoman and author, he maintains a family-oriented life with their three children in Arizona.[1] His engagements include philanthropy, such as joining the Giving Pledge in 2023 to commit the majority of his wealth to charitable causes, and strategic investments in sectors like media and consumer brands, reflecting a disciplined, entrepreneur-driven approach rather than ostentatious displays.[15][17]
Najafi's net worth stands at an estimated $1.3 billion as of October 2025, derived from self-made investments via The Najafi Companies, including minority stakes in the Phoenix Suns NBA franchise and French soccer club Olympique de Marseille.[1] Earlier estimates from less authoritative sources placed it higher, around $3.5 billion in 2021-2023, but Forbes' real-time assessment, accounting for market fluctuations and verified holdings, provides the most current figure.[1][92]
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