American billionaire Richard Wood Johnson has bought a minority stake in the Aston Martin Formula 1 team. Known as "Woody," Johnson is a prominent businessman and the owner of the New York Jets NFL team. He purchased the Jets franchise for $635 million in 2000 and serves as its chairman and owner. He also became a significant stakeholder in English Premier League club Crystal Palace last year.
Away from sport, Johnson's family business is the pharmaceutical, biotechnology, and medical technologies corporation Johnson & Johnson, which has an estimated valuation of $20.5 billion.
It is not known exactly how much of a percentage Johnson has acquired in Aston Martin, which is owned by several entities. Lawrence Stroll's Yew Tree Consortium holds a 33% stake, with the Saudi Arabian Public Investment Fund (PIF) taking 20%. The rest is split between Italian-born Swiss billionaire businessman Ernesto Bertarelli, Geely, Mercedes and the Lucid Group.
Johnson, who served as the United States ambassador to the UK from 2017 to 2021 during Donald Trump's first term, will also join the board of directors as vice chairman with immediate effect. He will not undertake any day-to-day management duties.
"During my time as US Ambassador to the United Kingdom, I have developed a deep appreciation for Aston Martin's rich history, as well as Lawrence Stroll's strategic vision and entrepreneurial spirit," Johnson said.
"I am excited to partner with him and contribute to the continued development of the team, with the ambition of building an organisation capable of competing at the very highest level of the sport.
"We also share a commitment to growing the fanbase in the United States and introducing even more fans to the excitement of Formula One."
Stroll added: "I am extremely happy to welcome Woody to the Aston Martin family. His experience, passion and investment further strengthen our position as we enter the next phase of our competitive journey.
"His deep appreciation for our brand, combined with his commitment to innovation and commercial opportunity, makes him an ideal partner as we look to the future."
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