Buffett has taken advantage of his name and the fan following for his music to launch several business ventures, usually with a tropical theme. He owns or licenses the Margaritaville Cafe and Cheeseburger in Paradise restaurant chains. As a baseball fan, he was part-owner of two minor league teams: the Fort Myers Miracle and the Madison Black Wolf. Between his restaurants, album sales, and tours, he earns an estimated $100 million a year.
In 1993, he launched Margaritaville Records, with distribution through MCA Records. His MCA record deal ended with the release of 1996’s Christmas Island and he took Margaritaville Records over to Chris Blackwell’s Island Records for a two record deal, 1998’s Don’t Stop The Carnival and 1999’s Beach House On The Moon. In the fall of 1999, he started up Mailboat Records to release live albums. He partnered up with RCA Records for distribution in 2005 and 2006 for the two studio albums License To Chill and Take The Weather With You.
In 2006, Buffett launched a cooperative project with the Anheuser-Busch brewing company to produce his own beer under the Margaritaville Brewing label called Land Shark Lager.
In June 2007, Buffett, in partnership with Harrah’s Entertainment, announced plans to build the Margaritaville Casino & Resort in Biloxi, Mississippi not far from his birthplace of Pascagoula. When completed in the spring of 2010, the resort will feature 798 rooms, a full-service spa, a pool/deck area with cabanas, and tropical landscaping.
Buffett has also licensed Margaritaville Tequila, Margaritaville Shrimp and Margaritaville Footwear.
Collectively Buffett’s business interests make up Margaritaville Holdings based out of Palm Beach, Florida. John Cohlan is his Chief Executive Officer.
In 2006, his annual amphitheater tour grossed over $41 million and his Margaritaville restaurant and stores earned more than $15 million.