|President Bush awarding Nicklaus the Presidential Medal of Freedom in 2005 (Photo credit: Wikipedia)|
"The Nicklaus wines were born through sociable chitchat with Bill Terlato, who has a home at the Bear’s Club, the swank private enclave Nicklaus developed in Jupiter. (Michael Jordan built a cozy 37,000-square-foot cottage there.) “Jack likes to do business with friends,” says Terlato, CEO of his family wine company. “It creates a tremendous loyalty -- you want to do right by Jack. I’m concerned about his reputation as much as my own.”
The wines have sold around 10,000 cases annually since 2010, but Forbes pegs Nicklaus’s net worth at more than $250 million, and the wine deal is not going to change his life from a financial standpoint. So why do it? “Because it’s fun to walk into a restaurant and order your own wine!”
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