Warren Buffet regularly gives advice to NFL player Ndamukong Suh. However, his advice wasn’t related to football, but rather, it was financial advice so the football star can succeed in the business world.
In a recent interview with CNBC interview, Suh, who is currently a lineman for the Tampa Bay Buccaneers, said he spoke with Buffett during the holidays. They talked about market opportunities and to be ready to buy when bargains appear.
“As you can see, he’s been super cash-heavy. It’s being prepared to make moves and see where there are opportunities in the market,” said Suh about Buffett who is also known as the “Oracle of Omaha” because of his investment acumen.
Suh has been getting advice from Buffett for over a decade. They first met in 2009 when he was attending the University of Nebraska. Since then, the legendary billionaire investor has been mentoring him about business and investing.
Where does Ndamukong Suh invest his money?
Suh disclosed that he is preparing to get into the investment world when he retires. Although he is busy playing for the Tampa Bay Buccaneers, he is monitoring the market turmoil and on the lookout for investment opportunities.
“I have aspirations to be more successful off the field than I was on the field. I think I’m in a fairly good place, but I know I have a lot of hard work ahead of myself to accomplish that,” he said.
According to Suh, he is “bullish” in the hospitality and restaurant sectors. He is an investor in a Special Purpose Acquisition Company (SPAC) that focuses on the hospitality space.
“I’ve seen a lot of good growth in those areas that a lot of people wouldn’t expect. There’s going to be a bigger demand as the vaccine is rolling out and people more open to being out in public. Deliveries and the opportunity to grab and go; I’ve seen a lot of success in those spaces,” said Suh.
He added that this year, he has “projects in the pipeline” around Portland, Oregon where he grew up. “We’ve signed leases and waiting for things to get up and rolling as things come back.”
Suh also made investments in the fitness sector. He invested in the Canadian company “Silofit”. According to Crunchbase, the company went through a $2.5 million fundraising round in November 2020.
Ndamukong Suh says he is a “hands-on investor”
He used his popularity as an NFL player to connect with Gary Shiffman, the Chairman of Sun Communities Inc (NYSE: SUI), a real estate company, and Howard Schultz, the former CEO of Starbucks (NASDAQ: SBUX). He has stock holdings in both companies.
The shares of Sun Communities are trading $146 each, up by more than 3% today at the time of this writing around 1:23 p.m. in New York. On the other hand, Starbucks shares are trading at $105.50 each, up nearly 3%.
According to Suh, he is a “hands-on investor.” He explained, “I like to get my hands dirty. I like to add value, which is why I like to be an adviser to companies if I’m not a board member or a venture partner.”
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