Basketball fans around the world have heard of Michael Jordan, the legendary athlete who is widely regarded as the greatest basketball player of all time. But beyond his accomplishments on the court, Jordan is also known for his massive wealth. In this article, we’ll take a look at Michael Jordan’s net worth, how he built his fortune, and how he continues to earn money even in retirement.
Who is Michael Jordan?
Before we dive into his wealth, let’s briefly review who Michael Jordan is. Born in Brooklyn, New York in 1963, Jordan grew up in Wilmington, North Carolina. He played college basketball at the University of North Carolina at Chapel Hill before being drafted by the Chicago Bulls in 1984. Jordan quickly became a star in the NBA, leading the Bulls to six championships in eight years during the 1990s. He retired from basketball in 1999, but returned to the court briefly in 2001-2003 before retiring for good.
|Full name||Michael Jeffrey Jordan|
|Date of birth||February 17, 1963|
|Place of birth||Brooklyn, New York|
|Education||University of North Carolina at Chapel Hill|
|Teams played for||Chicago Bulls, Washington Wizards|
|NBA championships won||6|
|NBA MVP Awards||5|
|All-Star Game appearances||14|
|Olympic gold medals won||2|
|Height||6 ft 6 in (1.98 m)|
|Retired||2003 (final game played in 2003, second retirement in 2013)|
|Hall of Fame induction||2009|
|Business ventures||Jordan Brand, ownership stake in Charlotte Hornets|
|Estimated net worth (as of 2021)||$2.1 billion|
Michael Jordan’s Net Worth
So, how much is Michael Jordan worth? According to Forbes, Jordan’s net worth is $2.1 billion as of 2023, making him the wealthiest former professional athlete in the world. How did he amass such a fortune?
Michael Jordan’s estimated net worth over the last 5 years:
|Year||Estimated Net Worth|
It’s worth noting that these are just estimates and Jordan’s actual net worth may fluctuate over time due to various factors such as investments, business ventures, and market conditions.
One of the biggest factors contributing to Jordan’s wealth is his deal with Nike. In 1984, Nike signed Jordan to a five-year endorsement deal worth $500,000 per year, a massive sum at the time. The partnership between Jordan and Nike has since become one of the most successful athlete-brand collaborations in history, with the Air Jordan sneaker line generating over $3 billion in revenue per year. Jordan reportedly earns over $100 million per year from Nike royalties alone.
Ownership of the Charlotte Hornets
In 2010, Jordan became the majority owner of the Charlotte Bobcats, which were later rebranded as the Charlotte Hornets. He initially owned 80% of the team, but has since sold small portions to other investors. Despite being a relatively small market team, the Hornets have increased in value since Jordan took over, and are now worth an estimated $1.9 billion.
Other Business Ventures
In addition to Nike and the Hornets, Jordan has invested in a number of other business ventures over the years. He has endorsements deals with companies such as Hanes, Gatorade, and Upper Deck, and has also invested in restaurants, a car dealership, and a golf course. Jordan is also a partner in a private equity firm called JUMP Investors.
How Does Michael Jordan Continue to Earn Money?
Even in retirement, Jordan continues to earn money through his various business ventures. He still earns royalties from Nike and other endorsements, and also makes money from his ownership stake in the Hornets. In addition, Jordan is actively involved in philanthropy through his Jordan Brand, which has donated millions to organizations such as the Boys and Girls Clubs of America.
Michael Jordan’s net worth is a testament to his incredible talent and savvy business acumen. From his legendary partnership with Nike to his ownership of the Charlotte Hornets, Jordan has built a massive fortune that continues to grow even in retirement. Whether you’re a basketball fan or not, there’s no denying that Michael Jordan is one of the most successful and influential athletes of all time.
What is Michael Jordan’s net worth?
Michael Jordan’s net worth is $2.1 billion as of 2023.
How did Michael Jordan make his money?
Jordan made his money through various business ventures, including his deal with Nike, his ownership of the Charlotte Hornets, and other investments and endorsements.
Does Michael Jordan still earn money?
Yes, Jordan continues to earn money through his business ventures, including royalties from Nike and his ownership stake in the Charlotte Hornets.
What is the value of the Charlotte Hornets?
The Charlotte Hornets are currently valued at an estimated $1.9 billion.