Michael B. Jordan Makes history as one of the few Black owners in Formula 1, following racer Lewis Hamilton's trailblazing path
By: Jackie Rae
In the 72-year-long and glorious history of Formula 1, Lewis Hamilton is the first Black driver to race in the series. Hamilton joined the McLaren F1 team in 2007, and as of 2023, he is still the only Black driver to compete in the race.
Many Black people in prominent positions are left with a choice: Keep your head down and don’t make waves, or call out systemic problems and try to open doors for the next generation. Hamilton chose the latter. He has voiced his desire to see more diversity within Formula 1 teams, particularly at the top of the organizations.
It is difficult to know if his voice helped pave the way for one of the biggest stars in Hollywood to become part owner of a team. But it certainly didn’t hurt.
According to Deadline, in 2023, Michael B. Jordan joined Ryan Reynolds and Rob McElhenney as an investor and part owner in the Alpine Formula 1 team.
The presence of Jordan in an ownership role is historically significant. Motorsport, including Formula 1, has its roots in Europe and North America, where most participants and fans were white. This historical lack of diversity created an environment where Black individuals were not actively encouraged or welcomed into the sport, leading to a lack of representation in ownership roles.
Given that Formula 1 often excludes Black owners and drivers, it is difficult to make any strides at gaining a seat at the table. Formula 1 is a sport that heavily relies on relationships and connections. Many team owners and key figures in the sport have longstanding ties to the industry, either through their involvement as drivers or engineers or through family connections. This tight-knit network can make it difficult for newcomers, including Black individuals, to break into the ownership ranks without the right connections.
That also leads to acceptance and often causes people outside the “community” to believe the sport is not for them. The lack of Black owners in Formula 1 means there are fewer visible role models and mentors for aspiring Black entrepreneurs or enthusiasts who might consider team ownership. Seeing someone who looks like them in a position of ownership can be a powerful motivator that helps break down entry barriers.
While Jordan may be new to investment circles, he’s making all the right moves, previously partnering with Serena Williams to invest $1 million in TracFlo, an operations management app, and becoming a football club investor earlier this year as a minority owner of the English soccer team Bournemouth FC, Essence reports.
“It is crazy and amazing. One reason I wanted to invest is that there was so much potential there. If you give to the community, and you have new managers and new players you can raise the culture of the team. It’s exciting,” Jordan previously told reporters.
The Creed star has joined a collective of investors in the Renault-owned team, taking a 24% stake in the car racing company that amounts to about $220 million. The stake will fall under Reynolds’ Maximum Effort Investments company, making Jordan one of the few Black owners in the Formula 1 industry.
The presence of Michael B. Jordan and Lewis Hamilton has done more than break barriers. It has opened a world of possibilities to young aspiring Black racers, entrepreneurs, and entertainers. This is not just building wealth — it’s building a legacy.