At the Daytona International Speedway, Bubba Wallace stormed to a career-best finish in the Cup Series. Unfortunately, it was not quite a win, as it would have seen him qualify for the playoffs. However, it would be truthful to admit that the African-American driver got a bit lucky. With a couple of laps to go, he was somewhere in the Top 10, alongside Daniel Suarez. Ahead of him were Kyle Larson and Ross Chastain, running side-by-side. He made up a bit of ground, passing a few cars, before they re-overtook the #23 driver. Wallace then found himself behind a whole gaggle of cars and chasing them. Then it happened; Kurt Busch triggered an accident when he tagged Suarez, who bumped into Kevin Harvick. From there, more and more drivers got involved. Luckily for 23XI Racing, Bubba Wallace was among the lucky few to escape unscathed. In the end, he went on to finish the race in third place. It got better when second-placed Chris Buescher got disqualified [https://www.autoweek.com/racing/nascar/a37425788/nascar-coke-400-bubba-wallace/] for a technical infringement. WHAT NEXT FOR BUBBA WALLACE FOR THE REST OF THE SEASON? As mentioned before, he missed out on a playoff berth, so the best that he can achieve is 17th place. Currently, the 23XI Racing driver sits in 21st place. Obviously, his second place finish at Daytona would have handed him a massive points boost. However, Wallace is aware that he will need more results like this in the next few races. Bubba Wallace prior to the Cup Series race in Indianapolis [https://image-cdn.essentiallysports.com/wp-content/uploads/20210212150514/GettyImages-1029881002.jpg]INDIANAPOLIS, IN – SEPTEMBER 09: Bubba Wallace, driver of the #43 World Wide Technology Chevrolet, during the Monster Energy NASCAR Cup Series Big Machine Vodka 400 at the Brickyard at Indianapolis Motor Speedway in Indianapolis, Indiana. (Photo by Sean Gardner/Getty Images) When he joined the outfit at the beginning of the year, team owners Denny Hamlin and Michael Jordan had huge ambitions. Sadly, their target of a ‘few wins’ in their maiden season seems like a pipe dream. That is, unless something dramatic can happen during the playoffs. Amid all this, Bubba Wallace will be focusing on doing the best that he can for his team. READ MORE: Bubba Wallace Misses a Playoffs Seat Despite a Career Best Result at Daytona [https://www.essentiallysports.com/nascar-news-bubba-wallace-misses-a-playoffs-seat-despite-a-career-best-result-at-daytona/] 

At the Daytona International Speedway, 23XI Racing driver Bubba Wallace rocketed
to a career-best finish of 2nd in the 2021 NASCAR Cup Series

Dhruv George is a Senior NASCAR Author at EssentiallySports, with an impressive record of over 14K articles. From F1 driver Pierre Gasly to Moto2 rider Tony Arbolino, Dhruv has interviewed several racers, establishing himself as an authoritative voice in the world of motorsports. He not only writes engaging content but helps connect readers with some of the biggest racing names thanks to his ability to churn out exclusive interviews.

Dhruv's ambition extends beyond writing, as he aspires to host a successful motorsports podcast with some of the biggest stars in the industry, like Kyle Busch and Denny Hamlin. When he's not writing about Stock Car Racing, he can be found reading and writing fan fiction.

Dhruv George

Dhruv George is a Senior NASCAR Author at EssentiallySports, with an impressive record of over 14K articles. From F1 driver Pierre Gasly to Moto2 rider Tony Arbolino, Dhruv has interviewed several racers, establishing himself as an authoritative voice in the world of motorsports. Dhruv's ambition extends beyond writing, as he aspires to host a successful motorsports podcast with some of the biggest stars in the industry, like Kyle Busch.

Dhruv George | Senior NASCAR Author at EssentiallySports

EssentiallySports

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Dhruv George is a Senior NASCAR Author at EssentiallySports, with an impressive record of over 14K articles. From F1 driver Pierre Gasly to Moto2 rider Tony Arbolino, Dhruv has interviewed several racers, establishing himself as an authoritative voice in the world of motorsports. He not only writes engaging content but helps connect readers with some of the biggest racing names thanks to his ability to churn out exclusive interviews. Dhruv's ambition extends beyond writing, as he aspires to host a successful motorsports podcast with some of the biggest stars in the industry, like Kyle Busch and Denny Hamlin. When he's not writing about Stock Car Racing, he can be found reading and writing fan fiction.

https://image-cdn.essentiallysports.com/wp-content/uploads/Dhruv-George-1-96x96.png

Dhruv George is a senior Formula One and NASCAR analyst for EssentiallySports,
having authored nearly 12000 articles spanning different sports like F1, NASCAR,
Tennis, NFL, and eSports. He graduated with a PG Diploma in Journalism from the
Xavier Institute of Communications. Dhruv has also conducted interviews with F1
driver Pierre Gasly and Moto2 rider Tony Arbolino. He has been an ardent
follower of motorsports sport since 2001, holding Carlos Sainz Jr. and McLaren
in high regard.

https://image-cdn.essentiallysports.com/wp-content/uploads/Dhruv_George.png

Bubba Wallace Misses a Playoffs Seat Despite a Career Best Result at Daytona

NASCAR: Daytona 500

- EssentiallySports

No title

Hailing from Bengaluru, Bhargav is a Marketing and Ops Executive at EssentiallySports. A former F1 and NASCAR author, he is a huge fan of Max Verstappen and Red Bull Racing. Bhargav also has an MBA in Sports Management from the Symbiosis School of Sports Sciences, Pune. He is quite a genius in his field, having won the All-India Marketing Case Study Competition conducted by SRCC in 2015. Bhargav also loves to combine his love for marketing and sports by taking part in competitions like Knockout: Sports Marketing Case Study by IIM Ahmedabad. When not engrossed in sports, he likes to play the keyboard and watch some of his favorite sitcoms.

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Bhargav Gopal

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WATCH: How Bubba Wallace Managed to Snatch Third at the Daytona International
Speedway

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<h1 style="text-align: center">23XI Racing: 2024 Net Worth, Stats, Owners and More</h1>
<h2 style="text-align: center"><strong>What is 23XI Racing?</strong></h2>
<p style="text-align: left">Would you believe it, if five years ago, somebody told you that NBA legend Michael Jordan would become a regular name in NASCAR? Most people would probably scoff at the idea. However, that's exactly what happened when 23XI came into inception. 23XI Racing is a stock car racing team that regularly competes in the NASCAR Cup Series. The team currently has two drivers in its team: Bubba Wallace driving the No. 23 Toyota Camry XSE, and Tyler Reddick driving the No. 45 Toyota Camry XSE.</p>
<img class="alignnone wp-image-2639040 size-full" src="https://image-cdn.essentiallysports.com/wp-content/uploads/F4irU_PWEAASKOc-1.jpeg" alt="" width="1769" height="723" />
<h2 style="text-align: center"><strong>The History of 23XI Racing</strong></h2>
After a lot of speculations and vehement denials by Michael Jordan's representatives about a possible NASCAR entry, 23XI was finally founded in 2020. The team debuted in the NASCAR Cup Series on February 14, 2021, at the Daytona International Speedway. The team is owned by basketball icon Michael Jordan and Joe Gibbs Racing driver Denny Hamlin, who is a minority stakeholder. 23XI reportedly has a technical alliance with JGR.
<h2 style="text-align: center"><strong>Why is the team named 23XI Racing?</strong></h2>
23XI Racing's name is a culmination of meaningful symbolism. While the team name is as unconventional as it can be, the backstory behind it is the stuff of legends. Pronounced twenty three-eleven, the team name is an amalgamation of two numbers, 23 and 11, where the former is Michael Jordan's jersey number that he adorned for most of his NBA career. And, 11 stands for Denny Hamlin's car number in his Cup series team, Joe Gibbs Racing, that he has driven for the entirety of his career.
<h2 style="text-align: center"><strong>23XI Racing’s Net Worth 2024 </strong></h2>
23XI Racing owner Michael Jordan is reportedly the first athlete to attain billionaire status. And a small chunk of it went to his NASCAR team. As per reports from 2023, 23XI is reportedly worth $150 million. While this is definitely a lot less than where other Cup Series teams stand, which MJ's backing, the best of the team definitely awaits.
<h2 style="text-align: center"><strong>23XI Racing Drivers</strong></h2>
23XI currently backs two drivers in the NASCAR Cup Series: Bubba Wallace and Tyler Reddick. Wallace was the first driver that was announced as a part of the team. What's interesting is that the #23 driver had left his former team Richard Petty Motorsports, who he had driven for four years, just eleven days prior to the announcement.

[caption id="attachment_1946369" align="alignnone" width="1920"]<img class="wp-image-1946369 size-full" src="https://image-cdn.essentiallysports.com/wp-content/uploads/imago1032013058h.jpg" alt="" width="1920" height="1280" /> July 15, 2023, Loudon, NH, United States of America: NASCAR, Motorsport, USA Cup Drivers, Bubba Wallace 23 and Tyler Reddick 45 get ready to qualify for the Crayon 301 at the New Hampshire Motor Speedway in Loudon NH. NASCAR Cup Series 2023: Crayon 301 PUBLICATIONxINxGERxSUIxAUTxONLY - ZUMAa161 20230715_zaa_a161_021 Copyright: xWalterxG.xArcexSr.x[/caption]

Apart from Wallace, Kyle Busch's older brother Kurt Busch was roped in to drive the No. 45 car in the 2022 season. However, his stint at 23XI Racing was unfortunately a short one. Kurt Busch joined the team in 2021 and competed in 20 races throughout the season, before a mishap took away his chances to be back in NASCAR's top division. Busch fell prey to a wreck during the qualifying race at Pocono Raceway and was subsequently not cleared to race in the main event despite his qualification, due to a concussion. Soon after, <a href="https://www.essentiallysports.com/nascar-news-nascar-community-comes-together-to-say-goodbye-to-cup-series-champ-kurt-busch/" target="_blank" rel="noopener">the driver announced his retirement from full-time racing in the Cup Series</a>. Currently, Kurt Busch serves as a consultant to 23Xi Racing.

[caption id="attachment_934728" align="alignnone" width="1920"]<img class="wp-image-934728 size-full" src="https://image-cdn.essentiallysports.com/wp-content/uploads/2022-02-17T033117Z_1214388381_MT1USATODAY17701270_RTRMADP_3_NASCAR-DAYTONA-500-QUALIFYING.jpg" alt="Kurt Busch" width="1920" height="1342" /> Feb 16, 2022; Daytona, FL, USA; NASCAR Cup Series driver Kurt Busch (45) during qualifying for the Daytona 500 at Daytona International Speedway. Mandatory Credit: Mike Dinovo-USA TODAY Sports[/caption]

After Kurt Busch's untimely retirement, Tyler Reddick joined the team to replace the former as the new driver of the No. 45 car. Reddick, who was originally scheduled to start racing 23XI Racing in 2024, joined the team earlier than scheduled, after the Michael Jordan-Denny Hamlin owned team bought the remainder of his contract from his then team, Richard Childress Racing.
<h2 style="text-align: center"><strong>23XI Racing Partnerships and Endorsements</strong></h2>
Despite 23XI being a fairly new team in the NASCAR Cup Series, it boasts an arsenal of big-named sponsors. After all, with the likes of Michael Jordan and Denny Hamlin spearheading the team, sponsors seem to have that confidence. While brands like McDonald's, Root Insurance, DoorDash and Columbia Sportswear moved to 23XI Racing in 2021 with Bubba Wallace from Richard Petty Motorsports, Dr. Pepper joined hands with the team soon after.

And that's not all. DraftKings inked a multi-dimensional deal with the Cup Series team ahead of the 2o21 season. Apart from being the official sports betting partner of 23XI Racing, the company also acted as a primary sponsor for #23 driver, Bubba Wallace.

The driver has also had a partnership with Leidos, having joined hands as a primary partner in 2022. The brans primarily teams up with #23 driver Bubba Wallace.

23XI Racing's Michael Jordan popularized brand Jordan also came on-board ahead of the 2022 season when Kurt Busch joined the team. While the team had plans to sponsor the team since its inception, 23XI being a single car organization with Bubba Wallace, in 2021, with backing from Columbia Sportswear proved to be a hindrance. However, Busch's joining finally facilitated the onboarding of the highly popular company.

Additionally, in February 2023, Monster Brewing announced a partnership with 23XI Racing, with Tyler Reddick primarily adorning the colors of the brand. <em>"This is all really cool,"</em> Reddick had said at the time. <em>"And now I get to debut The Beast this weekend at <span class="xn-location">Fontana</span> here in <span class="xn-location">California</span>. With the race being in such close proximity to Monster's Global HQ, It worked out to where we got to unveil the Beast scheme here today before getting on-track this weekend... Really cool to unveil the scheme with all the employees today, "</em> the #45 driver added.

Apart from that, Xfinity, the brand and not the NASCAR division, also inked a deal with the team ahead of the 2o23 season. It backed Tyler Reddick at the Richmond Raceway and Atlanta Motor Speedway last year. The telecommunications brand also sponsored Bubba Wallace at the Martinsville Speedway playoff race in 2023.

In another exciting development, in January 2024, <a href="https://www.essentiallysports.com/nascar-news-mobil-1-expands-its-presence-in-nascar-as-they-announce-a-new-deal-with-all-toyota-teams-in-the-cup-series/" target="_blank" rel="noopener">Toyota Racing Development(TRD) and Mobil 1 announced an expansion backing all Toyota NASCAR teams</a>, including 23XI Racing. Tyler Reddick will kick-off the partnership by running a Mobil 1 race at Phoenix in March and Richmond in August. On the other hand, Mobil 1 will be backing Bubba Wallace as a primary sponsor at the Circuit of the Americas race in March.

More exciting names have also joined the team recently. <a href="https://www.essentiallysports.com/nascar-news-bubba-wallace-makes-dream-come-true-as-23xi-teams-up-the-united-states-airforce-for-the-2024-season/" target="_blank" rel="noopener">The #23 driver reunited with US Air Force</a>, who will serve as a primary sponsor for select races.

<img class="alignnone wp-image-2639065 size-full" src="https://image-cdn.essentiallysports.com/wp-content/uploads/FvAJVpXaUAEBEDq.jpeg" alt="" width="1367" height="911" />
<h2 style="text-align: center"><strong>23XI Racing Investments</strong></h2>
The team has been growing in leaps and bounds ever since it came into business. As recently as 2021, Charlotte Business Journal reported that the team had made a huge $16 million investment into building a team headquarter in Huntersville, North Carolina. The HQ was reportedly being built on a 15-acre site that the team had acquired for $3.7 million the same year. Talking about when the HQ can be expected to be up and running, President of 23XI Racing, Steve Lauletta had said, "<em>“We don’t have an actual date yet, but it will be in the very near future."</em>

The headquarter will be a grand affair as the building will not just be a race shop but also<a href="https://www.essentiallysports.com/nascar-news-bubba-wallace-gives-insight-into-airspeed-23xis-sixteen-million-racing-mansion-in-north-carolina/" target="_blank" rel="noopener"> house a 120 room hotel and 12,000 square feet of office space</a>.
<h2 style="text-align: center"><strong>23XI Racing Major Achievements and Awards</strong></h2>
If you think 23XI Racing shouldn't be taken seriously just because it's a new team, you're definitely wrong. Despite only three years of experience, the team has been leaving a mark. While 2021 and 2022 proved to be a lackluster season for the team, 2023 went down in history books. Both full-time drivers from the team, Tyler Reddick and Bubba Wallace made it to the Playoffs for the first time in the team's history. While Reddick finished 6th on the standings after getting eliminated in the Round of 8 race at Martinsville Speedway, Wallace finished 10th last year after getting post his Round of 12 race elimination at the Charlotte Roval.

23XI Racing team has also been picking up several accolades off the track as well. In February 2024, the team won the NASCAR Drive for Diversity Awards. "<em>For the third consecutive year, the 23XI Racing family was recognized at the NASCAR Drive for Diversity Awards for living out our mission and values as they pertain to making motorsports more diverse, equitable and inclusive," </em>the official release said.
<h2 style="text-align: center"><strong>23XI Racing’s Vision</strong></h2>
When it comes to 23XI Racing's future prospects, the team has a lot of cards set on the table. Inclusivity has been at the forefront of the team's beliefs. Speaking about the same and how Bubba Wallace has been a big-time contributor to that cause, team president Steve Lauletta said, <em>"It’s part of the mission and values of this team, and it was started by what Bubba did for the sport of Nascar in 2020 (by campaigning for a Confederate Flag ban at NASCAR tracks). We all believe in it and we want to make it a focus of what we do as a team, and our partners believe in it."</em>

Even team co-owner Denny Hamlin mentioned how expanding the talent pool and encouraging inclusivity is a vision that the team definitely sees. In an interview with Associated Press, the #11 driver said, <em>“I’m looking at potential hires right now that we’ve got on the board — there’s England, Brazil and Israel, the next three hires."</em> "<em>We’re trying to make a very diverse team. Certainly it’s important to give opportunities to those that never thought racing was a job, a place that they could have a job opportunity, " </em>the co-owner further added.

<img class="alignnone wp-image-1079908 size-full" src="https://image-cdn.essentiallysports.com/wp-content/uploads/EievOnNWAAMVQ05.0-1.jpg" alt="" width="1200" height="800" />

And not just that, the team is also heavily involved in charitable causes such as the <b>23XI Speed Institute Tuition Programme,</b> under the team's educational and professional development initiative, launched in 2021. The program which offers $5,000 each to 23 students every year besides providing them with opportunities <em>"such as scholarships and internships, as well as diversity recruiting and professional development in the motorsports field"</em>.

Speaking about the same, the team president said,<em> "This was the second year that we gave away 23 US$5,000 scholarships to students of diverse backgrounds that wanted to explore motorsports, whether that be in engineering or on the business side. Two of those winning scholarship recipients were interns with us this year, and they’ll be interns with us next year. Those are the kind of things that all of our partners are rallying behind and want to be a part of so that we can help change the sport.”</em>

What's clear is the 23Xi racing team is in NASCAR for more than just racing and championship wins!
<h2 style="text-align: center"><strong>23XI Racing Social Media</strong></h2>
<table style="width: 439px">
<tbody>
<tr>
<td style="width: 76.85px"><span style="font-weight: 400">Facebook</span></td>
<td style="width: 348.55px"><a href="https://www.facebook.com/23XIRacing/" target="_blank" rel="noopener">https://www.facebook.com/23XIRacing/</a></td>
</tr>
<tr>
<td style="width: 76.85px"><span style="font-weight: 400">Instagram</span></td>
<td style="width: 348.55px"><a href="https://www.instagram.com/23xiracing/?hl=en" target="_blank" rel="noopener">https://www.instagram.com/23xiracing/</a></td>
</tr>
<tr>
<td style="width: 76.85px"><span style="font-weight: 400">Twitter</span></td>
<td style="width: 348.55px"><a href="https://twitter.com/23XIRacing?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" target="_blank" rel="noopener">https://x.com/23XIRacing/</a></td>
</tr>
<tr>
<td style="width: 76.85px"><span style="font-weight: 400">Website</span></td>
<td style="width: 348.55px"><a href="https://www.23xiracing.com/" target="_blank" rel="noopener">www.23xiracing.com</a></td>
</tr>
</tbody>
</table>
<table style="width: 59.7333%">
<tbody>
<tr>
<td style="width: 25.744%"><span style="font-weight: 400">Name</span></td>
<td style="width: 73.2143%">23XI Racing</td>
</tr>
<tr>
<td style="width: 25.744%"><span style="font-weight: 400">Owners</span></td>
<td style="width: 73.2143%">Denny Hamlin, Michael Jordan</td>
</tr>
<tr>
<td style="width: 25.744%">Headquarters</td>
<td style="width: 73.2143%">Mooresville, North Carolina</td>
</tr>
<tr>
<td style="width: 25.744%"><span style="font-weight: 400">Series </span></td>
<td style="width: 73.2143%">NASCAR Cup Series</td>
</tr>
<tr>
<td style="width: 25.744%"><span style="font-weight: 400">Race Drivers</span></td>
<td style="width: 73.2143%">Bubba Wallace (No. 23), Tyler Reddick (No. 45)</td>
</tr>
<tr>
<td style="width: 25.744%"><span style="font-weight: 400">Sponsors</span></td>
<td style="width: 73.2143%">McDonald's, Beast Unleashed, Nasty Beast, Columbia Sportswear, MoneyLion, Leidos, U.S. Air Force, Jordan Brand. Mobil 1, Monster Energy, Xfinity, Draft Kings, Walmart, DoorDash, Dr Pepper, NBA 2K24, melin, Mack Trucks, R3</td>
</tr>
<tr>
<td style="width: 25.744%"><span style="font-weight: 400">Manufacturer</span></td>
<td style="width: 73.2143%">Toyota</td>
</tr>
<tr>
<td style="width: 25.744%"><span style="font-weight: 400">Founded</span></td>
<td style="width: 73.2143%">2020</td>
</tr>
<tr>
<td style="width: 25.744%"><span style="font-weight: 400">Latest Race</span></td>
<td style="width: 73.2143%">2024 Busch Light Clash At The Coliseum</td>
</tr>
<tr>
<td style="width: 25.744%"><span style="font-weight: 400">Championship</span></td>
<td style="width: 73.2143%">NA</td>
</tr>
<tr>
<td style="width: 25.744%"><span style="font-weight: 400">Race Victories</span></td>
<td style="width: 73.2143%">5</td>
</tr>
<tr>
<td style="width: 25.744%"><span style="font-weight: 400">Net Worth</span></td>
<td style="width: 73.2143%">$150 million</td>
</tr>
</tbody>
</table>

23XI Racing

Read on to find out about NASCAR Cup Series Team 23XI Racing's Net Worth, Endorsements, Achievements and Vision!

23XI Racing: 2024 Net Worth, Stats, Owners and More

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At the Daytona International Speedway, 23XI Racing driver Bubba Wallace rocketed to a career-best finish of 2nd in the 2021 NASCAR Cup Series

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WATCH: How Bubba Wallace Managed to Snatch Third at the Daytona International Speedway

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Bubba Wallace

Find the latest news about Bubba Wallace, his current net worth, endorsements, childhood, achievements, and more on EssentiallySports.

WATCH: How Bubba Wallace Managed to Snatch Third at the Daytona International Speedway

What next for Bubba Wallace for the rest of the season?