Michael Jordan’s extensive investment portfolio has seen him back numerous ventures, but one offer he made didn’t go as planned. In the early 1990s, C. David Moody Jr., founder of the largest Black-owned construction management and general contracting firm in the U.S., turned down the NBA legend’s offer to invest.
Moody recalls the early startup phase of his Atlanta-based company, C.D. Moody Construction, a time when extra funding would have been helpful. Yet despite the allure of Jordan’s backing, Moody chose to go it alone, determined to see what he could achieve on his own terms.
“I use the stock market myself, but when it comes to my business, I couldn’t have a partner—not because I’m difficult to work with, but because I wanted to run my own show,” Moody explained on AfroTech’s Black Tech Green Money podcast. “In the early ’90s, Michael Jordan was actually ready to invest in my company.”
Moody recounted that he still has a photo with Jordan’s signature, which reads “congratulations and good luck” for the construction company. Despite the good wishes, Moody’s final decision was to decline the offer through Jordan’s financial representative. “He told me, ‘You’re the first person to ever turn him down.’ I told him I wanted to see what I could do on my own,” Moody said.
For Moody, a graduate of Morehouse College and Howard University, it was a bet on himself and his vision. Over the years, Moody grew C.D. Moody Construction from a modest $1 million startup to a $70 million enterprise that has left a lasting imprint on Atlanta’s landscape. The company has undertaken high-profile projects for clients like Disney, Home Depot, the 1996 Olympic Stadium, Morehouse College Leadership Center, Turner Baseball Field, and Philips Arena.
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Moody attributes his financial discipline and confidence to his father, who imparted invaluable guidance. As a professor and vice provost at the University of Michigan, Moody’s father faced his own challenges, having grown up during the Great Depression in rural Louisiana. “My dad grew up with very little, and he always taught me the importance of saving,” Moody explained. “‘I don’t care if it’s just $10—save something,’ he would say. So when I started my business—undercapitalized, as most of us do—whenever I earned a little, I was cautious to spend it. I reinvested in the business and made sure I could take care of my family.”
This prudent approach proved essential as Moody weathered the early, lean years. As his firm expanded, so did its reputation. For more than two decades, C.D. Moody Construction has been featured on BLACK ENTERPRISE’s “Top 100” list of the largest Black-owned industrial and service firms in the nation. Additionally, the Atlanta Business Chronicle has ranked Moody’s company among the city’s top 25 commercial contractors and top 100 private companies, a recognition that reflects its significant contributions to Atlanta’s urban and commercial development.
For Moody, the decision to decline Jordan’s investment was ultimately rooted in a desire for independence and an unwavering belief in his capabilities. His journey, marked by careful financial management and a focus on family, serves as an inspiration for other entrepreneurs.
