Novak Djokovic, the record-breaking tennis champion, has not only dominated the courts but has also proven to be a savvy investor. While his on-court earnings and endorsements with brands like Lacoste and Seiko have contributed significantly to his estimated net worth of over Rs 2,000 crore, his strategic business ventures have further solidified his financial standing. One notable partnership that exemplifies his business acumen is his collaboration with Jay-Z, which has opened doors to lucrative opportunities in the fitness and technology sectors.
Diversifying the Portfolio: Djokovic’s Investments Beyond Tennis
Djokovic has smartly diversified his income streams by investing in various businesses across different industries. These ventures include:
- Novak Café & Restaurant chain: A restaurant chain in Serbia focusing on healthy, organic food.
- Djokolife: A nutritional food line.
- QuantBioRes: A stake in a biotech firm developing COVID-19 treatments.
- Real Estate: Apartments in SoHo, Manhattan, a hillside property in Monte Carlo, and an apartment in Belgrade.
These investments showcase Djokovic’s understanding of the importance of building wealth beyond his tennis career and ensuring long-term financial security.
The Jay-Z Connection: Investing in CLMBR
In 2020, Novak Djokovic partnered with Jay-Z, the Grammy Award-winning artist and co-founder of Marcy Venture Partners, to invest in CLMBR, an innovative fitness brand. CLMBR is known for its vertical climbing machines that provide an efficient total body workout with minimal impact on the joints.
- CLMBR Connected and CLMBR Pure: Djokovic and Jay-Z invested in the 2021 launch of these vertical climbing machines.
- Ergonomic Design: CLMBR machines feature a large-format touch display with on-demand, instructor-led classes and an integrated audio system.
- Health and Fitness Tracking: The machines are accompanied by a state-of-the-art app that displays key metrics like vertical feet climbed and workout targets reached.
Djokovic’s decision to invest in CLMBR reflects his interest in the fitness and wellness industry and his commitment to promoting a healthy lifestyle.
Other Ventures and Endorsements
Besides CLMBR, Djokovic has also invested in other companies like Waterdrop, CLMBR, and OnePointOne, UTR Sports and Whoop. His endorsement portfolio includes partnerships with top brands like Lacoste, Asics, Head, Peugeot and Seiko, earning him around $30 million annually. These deals further solidify his status as one of the world’s most marketable athletes.
Philanthropy: Giving Back to the Community
Despite his immense wealth, Djokovic is also known for his philanthropy. In 2007, he established the Novak Djokovic Foundation, which focuses on early childhood education in Serbia. The foundation has helped build schools, train teachers, and improve education for thousands of children. Djokovic has also donated millions to various causes, including healthcare during the COVID-19 pandemic, demonstrating his commitment to using his wealth for positive change in society.
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