Business Ventures
Buffett has taken advantage of his name and the fan following for his music to launch several business ventures, usually with a tropical theme. He owns or licenses the Margaritaville Cafe and Cheeseburger in Paradise restaurant chains. As a baseball fan, he was part-owner of two minor league teams: the Fort Myers Miracle and the Madison Black Wolf. Between his restaurants, album sales, and tours, he earns an estimated US$100 million a year. He opened the Margaritaville store in Key West, Florida, in 1985. He is now among the richest singers in the world with a net worth of over $400,000,000.
In 1993, he launched Margaritaville Records, with distribution through MCA Records. His MCA record deal ended with the release of 1996's Christmas Island and he took Margaritaville Records over to Chris Blackwell's Island Records for a two record deal, 1998's Don't Stop The Carnival and 1999's Beach House On The Moon. In the fall of 1999, he started up Mailboat Records to release live albums. He partnered up with RCA Records for distribution in 2005 and 2006 for the two studio albums License To Chill and Take The Weather With You.
In 2006, Buffett launched a cooperative project with the Anheuser-Busch brewing company to produce his own beer under the Margaritaville Brewing label called Land Shark Lager.
Another Margaritaville Casino was slated to be opening in Atlantic City, New Jersey but has been put on hold indefinitely. Buffett has also licensed Margaritaville Tequila, Margaritaville Footwear and a Margaritaville Foods including Chips, Salsa, Guacamole, Shrimp, Chicken and more.
From May 8, 2009, through January 5, 2010, Sun Life Stadium (formerly Dolphin Stadium) in Miami, the home of the Miami Dolphins, was named Landshark Stadium pursuant to an eight-month naming rights deal. Buffett also wrote new lyrics for the team to his 1979 song "Fins", which is played during Dolphins home games. Despite Buffet's partnership with the Dolphins, Buffet is a diehard New Orleans Saints fan, having attended the team's first game at Tulane Stadium in 1967 and later had Saints head coach Sean Payton serve as an honorary member of the Coral Reefer Band at a concert in New Orleans on April 1, 2012, in protest of Payton's suspension by the NFL as a result of the Saints' bounty scandal.
In May 2011, Buffet announced that he had partnered with game makers THQ to make a Margaritaville game for Facebook and iOS devices. The game opened in closed beta to what's being referred to as the Buffet Beta Club. The game, which requires users to download Unity Engine for use on the Facebook API, is expected to release on Facebook in December 2011 and to iOS devices by the end of January 2012. While on stage in August 2012 at a concert in Cincinnati Buffett announced that a new Margaritaville cafe would be one of the new tenants at the Cincinnati Horseshoe casino opening in Spring 2013.
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Famous quotes containing the words business and/or ventures:
“A grocer is attracted to his business by a magnetic force as great as the repulsion which renders it odious to artists.”
—Honoré De Balzac (1799–1850)
“At the moment when a man openly makes known his difference of opinion from a well-known party leader, the whole world thinks that he must be angry with the latter. Sometimes, however, he is just on the point of ceasing to be angry with him. He ventures to put himself on the same plane as his opponent, and is free from the tortures of suppressed envy.”
—Friedrich Nietzsche (1844–1900)