Jimmy Buffett Dead at 76: What to Know About His Margaritaville Business Empire

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Singer, author and entrepreneur Jimmy Buffett. He died on Friday at the age of 76, leaving behind a sense of relaxation and well-being. The financial legacy is also huge.

Buffett has built a multi-hundred-million-dollar business empire: Margaritaville may have started as a song about living the beach-bum life in the 1970s, but it has expanded into a portfolio of hotels, merchandise and retirement communities. Forbes This year, Buffett had an estimated net worth of $1 billion.

Only 5% of that $1 billion comes from Buffett’s music catalog, which includes the hits “Margaritaville,” “Sailor’s Son” and “Cheeseburger in Paradise.” Another 56.8% is in cash, which includes income from buffet tours, merchandise, music and other public appearances.

Buffett’s brand was so powerful that he could use it to market other products—and profit from it. In the year He started promoting Corona beer in the 1980s and it was not considered a party favor at the time. Buffett’s influence and the millions of dollars Corona has spent on advertising have helped elevate the brand among Buffett fans.

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The largest portion of Buffett’s remaining wealth, 18%, is in the business. Margaritaville Holdings.

There is no headquarters listed on the main section of the company’s website. The station says it is “somewhere between Port of Decision and southwest of Disorder, but the parallels of latitude or longitude do not show the exact location.” “Where’s Margaritaville? It’s in your mind.” (Headquarters in Orlando, Fla.)

The company has a wide range of business activities. People can own Margaritaville-themed condos, stay at Margaritaville Resorts, and move in. Margaritaville Retirement Communities– Advertised to the “55 and over” crowd. There is also an Air Margaritaville restaurant chain located in airports from Detroit to San Juan, Puerto Rico. Margaritaville cruises from Palm Beach, Fla., to the Bahamas.

Separately, Buffett bought a lot of real estate valued at 50 million dollars. That includes homes in the Caribbean in St. Barts and Palm Beach and Long Island, NY

Buffett had very sharp business acumen, so he suspected he might be related to another famous Buffett – the investment legend.

Berkshire Hathaway

CEO Warren Buffett. The two were friends, and even took a DNA test in 2018. Although they are not related, Warren jokingly asks Jimmy to “willingly look after me.”

Write to Avi Salzman at [email protected]