In a recent Instagram post, Houston Texans cornerback Tremon Smith was spotted wearing a Bubba Wallace T-shirt. Without a doubt, Wallace has been an inspiration for many athletes, especially in the motorsport scene. Now, it is extra wonderful that he also has an NFL star cheering him on with his merchandise. Wallace even responded to pictures on social media of Smith wearing his T-shirt, commenting, “I see you, bro”. READ MORE: Bubba Wallace Attains New Personal High After the Cup Race at Pocono [https://www.essentiallysports.com/nascar-news-bubba-wallace-gains-new-personal-high-after-the-cup-race-at-pocono/] Admittedly, the 23XI Racing driver has been in relatively decent form in the past couple of races. This is because he managed to score back-to-back Top 10 finishes for the first time in a while. WHAT LIES AHEAD FOR BUBBA WALLACE IN THE 2022 NASCAR CUP SEASON? It would be a bit of a stretch to expect him to sneak into the Playoffs. Although his teammate Kurt Busch managed it, it does not mean that Wallace will be guaranteed a spot. Instead, he will probably have to fight for a spot, especially considering that there are just two left. To make matters even more complicated, there are five races remaining in the regular season. In addition to that, the previous winners are also keen to prevent new winners from arising and jeopardizing their chances. Otherwise, they will slowly start to threaten their chances of qualification. Bubba Wallace [https://image-cdn.essentiallysports.com/wp-content/uploads/GettyImages-1387893763.jpg]AUSTIN, TEXAS – MARCH 26: Bubba Wallace, driver of the #18 Dr. Pepper Toyota, waits on the grid prior to the NASCAR Xfinity Series Pit Boss 250 at Circuit of The Americas on March 26, 2022 in Austin, Texas. (Photo by Logan Riely/Getty Images) Bubba Wallace even confessed that if he has to stand a chance, he would need two wins to guarantee his safety. Unfortunately for him, the likelihood of that happening could be next to none. WATCH THIS STORY: NASCAR News 2022: From Key Bubba Wallace Suspension to Brad Keselowski’s Hearing [https://www.essentiallysports.com/stories/nascar-news-nascar-news-2022-from-key-bubba-wallace-suspension-to-brad-keselowskis-hearing/] Nevertheless, the consecutive Top 10 finishes at New Hampshire and Pocono will be massive morale boosters. The best that he can do is try to aim above 17th place, which will be the first of the drivers missing out on the Playoffs. 

In a recent Instagram post, Houston Texans cornerback Tremon Smith was spotted
wearing a Bubba Wallace T-shirt during a training session.

Dhruv George is a senior Motorsports author 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
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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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In a recent Instagram post, Houston Texans cornerback Tremon Smith was spotted wearing a Bubba Wallace T-shirt during a training session.

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Bubba Wallace

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

What lies ahead for Bubba Wallace in the 2022 NASCAR Cup season?