Joe Agresti was on a conference call in his Baton Rouge office when he received a voicemail from an unknown number. To his surprise, the message came from Nick Saban—the legendary University of Alabama football coach—who wanted to discuss opening a car dealership. Initially, Agresti assumed it was a prank. “I thought one of my buddies left me a bullshit prank Saban thing,” he said.
However, the call turned out to be real. Just weeks later, Saban sat down with Agresti, whose Mercedes-Benz of Baton Rouge already ranked among the nation’s best-run dealerships. What began as a scheduled 30-minute meeting turned into a four-hour discussion. The next day, they agreed to launch a business together. Their collaboration led to the creation of Dream Motor Group. Today, the company sells 20,000 Mercedes-Benz vehicles annually, along with hundreds of Infinitis and Ferraris. It operates nine dealerships across Alabama, Louisiana, Tennessee, Texas, and Florida. In 2023, they acquired two Miami-area dealerships in a $730 million deal. Their annual revenue now approaches $2 billion.
“It’s one of the best decisions I ever made,” Saban said. “It’s been really good for both of us.”
So far, their partnership has flourished. Agresti, who manages day-to-day operations and owns the majority stake, has become a billionaire worth $1.1 billion. Saban, although a minority partner, likely isn’t far behind. He stands on the verge of becoming the first billionaire college football coach, thanks largely to his business with Agresti.
Agresti earned his place on the World’s Billionaires list by focusing on operational excellence, cultivating a strong company culture, and building powerful relationships. He speaks quickly, recalls details precisely, and frequently refers to a wide network of “buddies,” “friends,” and “good dudes.” During a single three-hour conversation, he mentioned 14 buddies, six friends, and four best friends.
“Coach and I get deals left and right because of our connections,” Agresti said from Miami in late March. That morning, he had just wrapped up a negotiation to expand into a sixth state. “Right now we’re at our all-time biggest—all our chips are on the table.”
Despite his current status, Agresti came from modest beginnings. He grew up in North Bergen, New Jersey. His father worked as a woodworker, and his mother served as a nurse. Later, the family moved to Pennsylvania and managed a small apple orchard. Agresti, a high school wrestler, chose Rutgers over Bucknell because of its affordability and a partial scholarship. He studied accounting and accepted a position at Arthur Andersen after graduating.
At Andersen, he specialized in mergers and acquisitions, especially within the auto industry. He then transitioned into a senior role at Asbury Automotive, one of Andersen’s clients. Eventually, he oversaw Asbury’s Mississippi business. In 2004, a former executive offered him the chance to invest in and manage a Mercedes-Benz dealership in Baton Rouge.
To buy a 20% stake, Agresti contributed his entire $200,000 in savings. He convinced his parents to take out a $300,000 mortgage and borrowed another $500,000 from the executive. Due to a non-compete clause, he spent nearly a year working at a friend’s Subaru dealership in Maine, commuting weekly from New Jersey while learning the business inside and out.
Over the next few years, Agresti quadrupled sales at the Baton Rouge dealership. He eventually bought out his partner for $32 million. His success drew attention from Mercedes-Benz executives, who granted him the right to open a dealership near Houston in 2013.
Around that time, Saban also explored entering the auto business. He had participated in several events with Mercedes, which operated its first U.S. plant near Tuscaloosa. The company introduced Saban to a few of its top operators, including Agresti. After one call, Saban made his decision.
“I interviewed Joe and didn’t interview anybody else,” he said. “It’s like interviewing a good offensive coordinator—you just know it’s the right guy.”
In 2014, they opened their first joint dealership in Birmingham. In 2017, they expanded to Nashville with Mercedes-Benz of Music City. The following year, they opened a luxury dealership in Birmingham with an in-store bakery. In 2022, they added a Ferrari dealership in Nashville featuring guest libraries and a cocktail room. Then came their biggest move in 2023—a $730 million purchase of two Miami-area stores.
Though Saban retired from coaching in 2024, he remains fully engaged in the business. Meanwhile, Agresti continues to run operations, moving between homes near each dealership. They talk multiple times a day, discussing everything from strategic planning to the performance of individual managers. Steve Cannon, former CEO of Mercedes-Benz USA, recently joined them as a third partner and has played a key role in their latest expansions.
“Joe operates at a different cadence than most people,” Cannon said. “He’s pure entrepreneurial energy.”
Agresti values company culture above all. He interviews many new hires personally, asking questions like, “What’s one thing you’ve done that changed someone else’s life?” He expects team members to go above and beyond—such as stopping to help any stranded Mercedes, regardless of whether the driver is a customer.
In addition to building a strong team, Agresti monitors financials with intense focus. Drawing on his accounting background, he prepares monthly reports for every store. “If you ask me how March is going,” he said, “I can tell you Cutler Bay sold 13 cars last night—eight new, five pre-owned. I know the buyers, the salespeople, the profit on each, and I track trends to make sure we price fairly.”
Beyond car dealerships, Agresti has launched other ventures. He co-founded a bourbon brand in Kentucky with Saban and Cannon. During the COVID-19 pandemic, he created Dream Medical Group, which generated hundreds of millions in PPE sales.
The government’s response to COVID left Agresti frustrated. Now, he’s considering a run for federal office in Alabama. He says the pandemic changed his perspective. Since then, he’s built close ties with Senators Ted Cruz and Bernie Moreno, who asked him to organize weekly industry meetings to shape auto policy—particularly supporting Moreno’s Transportation Freedom Act.
Despite market concerns, Agresti believes Trump’s tariffs boosted short-term demand. “Sales spiked 30% after the tariffs were announced,” he said. He expects Trump will eventually support U.S. car exporters with federal credits. “I trust him. Is it perfect? Probably not. But let’s see how it ends.”
Looking ahead, Agresti and his partners plan further investments. They’re exploring ownership stakes in multiple Tennessee-based sports teams and preparing for an automotive project in South America. Minutes before speaking with Forbes, Agresti signed a deal to expand into a sixth state and add more luxury brands. He continued finalizing the terms during the interview.
