Can you think of one thing Michael Jordan has been involved with that hasn’t turned to gold? If you think he hasn’t had his usual Midas touch with the Charlotte Hornets, consider this; while they have yet to win a playoff series, he paid $175 million for the team, and now they are worth $1.58 billion.
His new venture is far from sports, as Jordan is part of a $30 million round of funding from a group of investors into a company called Vanilla. This estate planning fintech will use technology to simplify the complex world of death planning.
Where Michael and his team are putting a primary focus on is the financial aspects of estate planning.
Vanilla hopes to become a one-stop-shop for the entire estate planning process, which traditionally has been incredibly complex and nothing but a nightmare that makes people in the middle of it want to gouge their eyeballs out.
According to the company, they will be able to calculate and recommend an optimized portfolio for estate taxes automatically.
Here’s a quote from CEO Gene Farrell on axios.com.
”We had not planned to raise cash, but had a lot of inbound interest from VCs and we saw the chance to scale faster.”