Jimmy Buffett has made a career out of the sun-and-sand lifestyle: getting tan, playing guitar, drinking margaritas and being eternally on vacation on a beach somewhere. He started in music. blending country, rock, folk and pop to create his own sound.
Buffett realized early in his career, though, that musicians were often not well paid for their music. So he expanded his vision, creating an empire selling his brand of easy-going, tropical living and beach-bum persona. As Buffett himself said in a New York Times article, “I don’t know anyone alive that wouldn’t want to go to the beach for a week.”
Forbes estimated Buffett’s net worth at $550 million in 2016, and, in 2018, he earned $51 million. Despite being a well-known musician with over fifty albums and sold-out tours, Buffett makes most of his money from his chain of Margaritaville-branded restaurants, hotels, casinos, resorts and merchandise.
In addition to his business empire, Buffett is a best-selling author, pilot, sailor and environmental activist, with his own record label and radio station. Here’s how he forged his incredible career.
Margaritas and Cheeseburgers
Then-New Jersey Gov. Chris Christie holds up a pair of bronzed beach shoes in Atlantic City, New Jersey in 2013, at the grand opening of Jimmy Buffett’s Margaritaville restaurant inside Resorts Casino Hotel. Mel Evans / AP Photo
In 1985, Buffett’s brand, Margaritaville Holdings, began to open Margaritaville-themed merchandise stores and restaurants. The brand now has 50 licensed categories, according to a Forbes article, in the southeast United States and Caribbean, including restaurants (Margaritaville, JWB Prime Steak and Seafood, Cheeseburger in Paradise), bars (5 O’Clock Somewhere Bar & Grill, LandShark Bar & Grill), casinos, hotels and resorts. All together, Buffett’s empire was estimated to have more than $1.5 billion in sales in 2017.
He Has Grand Real Estate Ventures
Jimmy Buffett (right) stands with John Cohlan, CEO of Margaritaville (left), and Franz Hanning, President and CEO of Wyndham Vacation Ownership. AP Photo
In 2018, Buffett’s company opened One Particular Harbour marina and luxury residences (named after yet another Buffett song) on a 220-acre private island in Florida. Buffett’s latest business venture is a retirement village for over-55’s, called Latitude Margaritaville. The$1 billion project is currently being built in Daytona Beach, Florida, with about 7,000 homes that will start at about $200,000. The community will have beachfront views, a fitness center, pools, a spa and a live music venue.