Digging for Discretionary Gold in Margaritaville

Buffett II

There were pot shots from media types when Jimmy Buffett’s Margaritaville Holdings announced its launch into the realm of active adult communities.

A Billboard writer quipped: “At some point, even Parrotheads need to add a bit of qualified nursing care to their routine of endless mai tais and cheeseburgers.”

A commentator at the eco-friendly Mother Nature Network pointedly opined: “It just seems weird, developing a retirement community around a song where Buffett is spending his days in an alcoholic haze, not quite knowing why he’s there or what he’s doing.”

However, Buffett has enlisted the Canadian-based developer, Minto Communities, to build Latitude Margaritaville in Daytona Beach, FL. The $1 billion project is scheduled to open in 2018. Homes will be priced from the low $200,000s to the mid-$300,000s.

The pied piper of parrot-heads has parlayed his recording success into the Margaritaville brand, featuring hotels, restaurants, casinos, and an online casual apparel collection. For die-hards carousers, there’s a web-based tequila and rum shop and a dispensary for Landshark Island Special Lager with the disclaimer: Always keep your Fins Up! Drink Responsibly.

Forbes estimates the 70-year-old’s worth at $550 million. He’s not the type to retire anytime soon. From April 1 to September 23, Buffett will mix business with pleasure on a 21-stop tour throughout the US and France.

This article first appeared on LinkedIn.