In the rapidly evolving world of investments and acquisitions, a relatively new player has recently been making major waves. Founded just 8 years ago in 2015, Miami-based 777 Partners has quickly amassed a staggering net worth of over $12 billion. This meteoric rise has caught the attention of both the business and sports worlds given 777 Partners‘ ambitious investments across sectors like football clubs, airlines, and insurance.
This in-depth guide will provide you with the key facts, financials, controversies and outlook for 777 Partners. By the end, you‘ll have a firm handle on how this emerging investment giant managed to accrue a $12+ billion fortune in less than a decade.
A Rapid Rise to Prominence
To start, let‘s look at the origin story and growth trajectory of 777 Partners. The firm was founded in 2015 by Joshua Wander and Steven Pasko, who serve as co-founders and managing partners today.
777 Partners wasted no time diversifying its investments across sectors like sports, aviation, insurance, and sustainability. This strategy allowed the firm to scale up quickly to over $12 billion in net worth and $95.1 million in annual revenue by 2021.
But how does 777 Partners‘ growth stack up against peers? Here‘s a quick comparison:
| Investment Firm | Founded | Net Worth (Billions) | Years to Reach $12B Net Worth |
|---|---|---|---|
| 777 Partners | 2015 | $12+ | 6 years |
| The Carlyle Group | 1987 | $293 | 32 years |
| Apollo Global Management | 1990 | $414 | 31 years |
| Vista Equity Partners | 2000 | $86 | 21 years |
This table reveals how 777 Partners reached a staggering $12+ billion net worth in just 6 years, while it took decades for leading peers to hit similar milestones. The company‘s breakneck pace is even more impressive when considering it was founded well after these established giants.
So what has driven 777 Partners‘ meteoric rise in such a short period? Let‘s analyze some of the key factors:
Diversified approach: By strategically investing across diverse sectors like sports, airlines, and insurance simultaneously, 777 Partners mitigated risk and multiplied opportunities.
Majority acquisitions: Rather than minority stakes, 777 focused on acquiring majority control of assets like football clubs and airlines. This provided greater upside and influence.
Undervalued targets: The firm targeted struggling or undervalued assets with turnaround potential, acquired them at relatively low prices, and leveraged its expertise to revive them.
Lean operations: With just over 2,000 employees generating over $300,000 in revenue per employee, 777 Partners runs a tight ship. Its asset-light model keeps costs low.
Industry expertise: 777‘s leaders have experience across sectors like private equity, aviation, and sports. This allows them to quickly identify high-potential targets.
With this perfect storm fueling its ascent, 777 Partners is now worth over $12 billion just 8 years after its founding. Next, let‘s take a deeper look at one of the firm‘s major investment areas.
Betting Big on Global Football Clubs
While 777 Partners has invested across assets like airlines and insurance companies, its splashiest acquisitions have come in the world of football.
The firm has aggressively acquired majority ownership stakes in clubs across Europe, South America and Australia:
Sevilla FC (Spain) – 777 Partners acquired around 85% ownership of this top-tier La Liga club in 2022 for €200 million. Sevilla FC is one of Spain‘s most successful clubs with 6 UEFA Europa League titles.
Vasco da Gama (Brazil) – 777 Partners purchased 70% ownership of this iconic Brazilian club for over $80 million in 2022. Vasco da Gama has long been one of Brazil‘s most popular football brands.
Genoa CFC (Italy) – In 2021, 777 Partners bought 99.9% of historic Serie A club Genoa CFC for €150 million. The deal gave 777 near-complete control.
Hertha BSC (Germany) – Just last year, 777 Partners picked up 64.7% ownership of Hertha Berlin, a storied Bundesliga club, for around €100 million.
Standard Liege (Belgium) – 777 Partners holds nearly 87% ownership of Belgian club Standard Liege after paying around €30 million for a majority stake in 2022.
And 777 Partners‘ football conquest shows no signs of slowing down…
Everton FC – A Crown Jewel Within Reach?
In 2022, buzz began building around 777 Partners‘ interest in acquiring prominent English club Everton FC. Reports suggest the firm could pay up to £500 million for control of the Liverpool-based club.
For 777 Partners, bringing Everton into its portfolio would provide:
Direct entry into the lucrative English Premier League, one of football‘s biggest stages
Access to Everton‘s global fanbase, history, and heritage
Control of Everton‘s premier stadium, merchandising, hospitality and media assets
As for Everton, 777 Partners‘ takeover could inject fresh capital into the club for big-name player transfers, long-desired stadium upgrades, and boosted competitiveness.
However, some Everton supporters have voiced concerns about overseas ownership, preferring homegrown investors instead. But with 777 Partners appearing determined to add Everton to its football empire, talks are likely to continue simmering.
Why Football Clubs Appeal to 777 Partners
But what makes football clubs like Everton, Sevilla and Vasco da Gama such attractive investments for 777 Partners? There are a few key factors at play:
Branding & marketing opportunities – Football clubs have massive global fanbases offering reach into new markets. Club branding can be leveraged commercially via merchandising, partnerships, hospitality, etc.
Media rights – 777 gains access to lucrative broadcasting deals for leagues like the Premier League, La Liga and Seria A. As media rights grow, so do 777‘s revenues.
Asset appreciation – Historically clubs have experienced steady long-term appreciation in value. 777 can profit down the road from selling its ownership stakes.
Competition incentives – Well-run clubs drive on-field success, which boosts revenue from sources like sponsors and ticket sales. This motivates 777 to invest in competitiveness.
Influence – Owning legacy clubs like Everton and Vasco da Gama gives 777 significant influence over brand identity, fan connections and community impact.
For 777 Partners, the unique dynamics of football seem to tick all the boxes – branding, media exposure, asset appreciation, and long-term competitiveness incentives. But the strategy has not come without growing pains.
Lawsuits and Controversies Emerge
While 777 Partners has earned plaudits for its meteoric rise, its aggressive pace has also attracted lawsuits and controversies surrounding some investments.
For example, 777 Partners faced harsh accusations regarding its ownership of Bonza, an Australian budget airline. Just months after Bonza‘s inaugural flight in early 2022, the carrier suspended operations in December citing financial strain.
The abrupt demise prompted a lawsuit claiming 777 Partners neglected Bonza and actually set the airline up to fail from the very beginning as part of an elaborate ruse. The lawsuit aims to claw back 777‘s investment under grounds of misleading conduct.
777 Partners had acquired Bonza in 2021 with plans to build it into a major player in Australia‘s budget flight market. But Bonza‘s rapid collapse within its first year drew intense skepticism.
The controversy also thrust 777 Partners‘ investment practices under the microscope. Critics argued such "featured failures" were bound to happen given the pace of 777‘s acquisitions. They allege the firm prioritizes splashy, rapid deals over prudent due diligence.
However, 777 has defended its investment strategy and notes the lawsuit remains ongoing. The firm points to its broader success and promises to apply lessons from the Bonza case. Nonetheless, the debacle demonstrates how 777‘s breakneck growth has come with some painful stumbles.
What Does the Future Hold?
Looking ahead, 777 Partners appears poised for continued dealmaking and expansion. Here are some potential directions I see for the $12 billion investment firm:
More sports acquisitions – 777 is primed to shop for additional football clubs, perhaps even completing an Everton takeover. Expansion into other pro sports like basketball or baseball could follow.
New sectors – 777 could stretch into fresh sectors like healthcare, real estate, entertainment or technology where undervalued targets await. However, this risks going outside its core areas of expertise.
Geographic growth – While already global, we could see 777 broaden its reach, particularly in high-growth markets like Asia, Africa or the Middle East.
Going public – An IPO down the road could allow 777 to access new growth capital while potentially minting huge windfalls for founders like Josh Wander.
Of course, potential challenges like economic downturns, investment misses or overextension could curb the firm‘s progress. But with its demonstrated risk appetite and model of majority control, 777 Partners appears bullish on continuing its blistering growth trajectory.
The Bottom Line on 777 Partners
Let‘s recap the key facts surrounding the meteoric rise of 777 Partners:
Founded just 8 years ago in 2015, the firm has rapidly amassed a staggering net worth of over $12 billion.
777 Partners accomplished this through majority acquisitions in sectors like football clubs, airlines, and insurance.
The firm‘s breakneck pace far exceeds establishment giants like Apollo and The Carlyle Group.
However, controversial failures like Bonza airline have raised questions around 777‘s due diligence.
Looking ahead, 777 has significant runway for expansion with big deals like a potential Everton FC acquisition on the horizon.
In a short span, Josh Wander and Steven Pasko have guided 777 Partners from startup to one of the investment world‘s fastest-rising forces. While challenges remain, the firm is positioned to continue aggressively chasing further billions in net worth.
