When it comes to conversations about who the GOAT is, Michael Jordan doesn’t just dominate when it comes to his own sport – basketball. No. You could say that MJ is #1 overall. With that, what kind of money are we talking about, when it comes to being the greatest of all time? let’s take a look
What is the current net worth of Michael Jordan?
As of March 2021, according to Forbes, Michael Jordan’s net worth is estimated at $1.6 billion. Along with the significant income he has earned over the decades from the Jordan brand, he has also secured extremely lucrative sponsorship deals with major corporate America, as well as a number of profitable investments. Jordan has proven time and time again that he is a shrewd businessman. Thanks to his investments and good management of his money, he became one of the richest athletes on the planet. He also owns the majority stake in the Charlotte Hornets, as well as a significant percentage of his personal brand under Nike, the Jordan brand. Interestingly, after the Jordan brand secured the contract to supply their kit to French club Paris Saint German in 2021, Jordan reportedly earned an extra $6 million, when superstar Leo Messi signed for the club right after jersey sales.
Michael Jordan endorsement earnings
While his salary was significant during his playing career, the reality is that Michael Jordan earned the vast majority of his current wealth through endorsements. Over some four decades, Jordan has earned $1.7 billion (pre-tax) off the court from brands such as Nike, Coca-Cola, McDonald’s, Wheaties, Chevrolet to name a few. As of today, Jordan still maintains official ties with Nike, Hanes, Gatorade, and Upper Deck. When it comes to Nike specifically, Jordan is simply the sneaker giant’s biggest earner. For perspective, consider that his very first five-year Nike contract signed in 1984 was worth $500,000 a year (about $1.2 million in today’s dollars), plus royalties. His take last year was $130 million. How does that compare to today’s NBA stars? That’s 4 times more than LeBron James’ current contract, which is the 2nd highest in the league.
This time Michael Jordan bought the Charlotte Hornets
It was 2010 when Jordan made a move into the realm of property. Valued at $175 million, the Charlotte Hornets were a mid-table NBA team and one of its newest franchises. After buying a stake, Jordan would eventually increase his stake to 90%. In the end, however, Jordan actually chose to cash in on his investment when he sold 20% of the team in September 2020. This decision earned him some 1.5 billion when he sold the percentage to a New York-based hedge fund.
Michael Jordan wants his respect; The Charlotte Hornets owner spoke to a reporter with @BallsackSports on Monday, highlighting his thoughts since LeBron James surpassed Kareem Abdul Jabar’s all-time record. pic.twitter.com/gTYdeSPbN4
— trae young dpoy (@dpoytrae_) February 16, 2022
Other investments made by Michael Jordan
When discussing Michael Jordan, the conversation traditionally focuses on his time on the pitch. Still, it would be bordering on dishonesty if it weren’t for Jordan’s skill in the business world as well. To date, Jordan has participated in funding rounds for Sportradar, a Swiss-based sports data provider; Muzik, a headphone manufacturer; Gigster, a San Francisco-based marketplace for indie tech talent; and aXiomatics. Jordan joined NBA Hall of Famer Magic Johnson in 2018 as an investor in aXiomatic, which is the parent company of esports team Team Liquid. Its current value is $320 million. If that wasn’t enough, Jordan also joined a handful of other NBA stars to create a super premium tequila brand, Cincoro, last year. Their portfolio includes a bottle of Extra Anejo priced at $1,600
Michael Jordan’s Charity
If it wasn’t already clear, then let us be frank, Michael Jordan makes a lot of money. On the other hand, it’s also clear that he has no problem donating it to a good cause. Currently, Jordan has been a major contributor to many charities. Take “The Last Dance” for example. The recently aired Netflix documentary tells the story of Jordan’s last championship run with the Chicago Bulls. All proceeds from the project will go to charities including the non-profit Friends of the Children to support the group’s national expansion. More recently, Jordan also joined other NBA owners in pledging to pay arena workers for games missed due to the pandemic. The NBA legend also took part in the relief efforts in the Carolinas and even wrote a number of multi-million dollar checks to support relief efforts in the Bahamas.
There are also other sources of income for Michael Jordan
If there’s one thing that’s better than having a big source of income, it’s having several. Besides his major investments such as the Hornets and the Jordan brand itself, MJ also joined the group of investors that bought the Miami Marlins from MLB for $1.2 billion in 2017. Ex-Yankee Derek Jeter, who is actually close friends with Jordan, is the club’s CEO and owns 4%, while Jordan himself owns 1%. Jordan also happens to own a car dealership and, of course, what wallet would be complete without a restaurant? In this case, Jordan owns five.