"I invest in people" - Yankees 'Captain' Derek Jeter discusses business 'red flags' in candid interview with former teammate Alex Rodriguez
Former New York Yankees captain Derek Jeter joined Alex Rodriguez and Jason Kelly on "The Deal" by Bloomberg Originals. Among the many things discussed on the podcast, investment decisions were one of them.
Both Jeter and A-Rod have multiple successful ventures that have blossomed. This has contributed to their ever-growing net worth of $200 million and $350 million, respectively, via Celebrity Net Worth.
On being asked about his investment philosophy, Jeter said he invests in people who are passionate about what they are doing:
"The way I look at it, Alex, is I invest in people. You know, you run into people all the time that have great ideas. Everyone has a great idea," Jeter said.
"Everyone has a business that's going to be a billion-dollar business. But you have to invest in people, and you have to get to know them, and you have to know if they're passionate about what they're doing."
Jeter also disclosed that he sees a red flag when the sole purpose of the business is to earn money. While he acknowledged that money is important, the passion and character of the people running are important to him.
"Some people have businesses where they're in it to make money," Jeter said. "Look, we all want to make money. But if that's your number one priority, if you're not passionate about it, then I think that's a red flag. So I always like to invest in people.
"I think that works for, you know, it works in clubhouses, and it works in businesses," Jeter added. "It works in investment. So I tend to just lean towards the, you know, the character and the passion of the people."
Alex Rodriguez's Minnesota Timberwolves named finalist for Sports Business Journal’s 2024 Sports Team of the Year award
The Minnesota Timberwolves are on a tear this NBA season. They are third in the Western Conference with a 49-22 record and are hoping for a deeper run in the NBA playoffs.
Recently, SBJ announced the finalists for their 2024 Sports Team of the Year award. This includes the Timberwolves, MLS' Inter Miami CF, NFL's Kansas City Chiefs, MLB's Texas Rangers and NHL's Vegas Golden Knights.
Alex Rodriguez took to Twitter to congratulate the Timberwolves for their hard work being recognized for the prestigious award:
"Incredibly proud of this team," A-Rod tweeted.
“It is an honor for the Timberwolves to be named a finalist for the Sports Business Journal’s Sports Team of the Year award,” said Timberwolves and Lynx CEO Ethan Casson. “This nomination represents the hard work and dedication of the entire organization, and we are humbled by this recognition.”
It remains to be seen if the Timberwolves come out on top among the best teams in North American sports.