Michael Jordan has a net worth of $2.1 billion making him one of the wealthiest athletes ever, per Forbes. While Jordan’s success on the basketball court led to financial opportunities, the former Bulls guard earned most of his money away from the sport.
Jordan now earns more annually from Nike than he made over his entire NBA career. According to Business Insider, Jordan’s initial endorsement deal with Nike in 1984 was for $250,000. Jordan’s transition from a player to owner has also paid off as the Hornets franchise value has skyrocketed since he purchased the team in 2010.
The NBA legend has been looking to add to his bank account by selling his Chicago home which has remained on the market for more than eight years. Jordan initially listed the property at $29 million but has since slashed the list price to $14.8 million, per Zillow. Jordan also has multiple properties in North Carolina and a home in the upscale area of Jupiter, Florida.
Learn more about Jordan’s business empire.
1. Jordan Has a Net Worth of $2.1 Billion
Jordan’s $2.1 billion net worth not only makes him one of the richest athletes ever, but puts him on the list among the wealthiest people on the planet. Forbes ranked Jordan at No. 1001 on its 2020 list of billionaires.
He first became a billionaire in 2014. Jordan’s endorsement deal with Nike has been well-documented, but the Bulls legend also works with a number of other companies. He has had long-standing partnerships with Gatorade, Hanes and Upper Deck among others.
2. Jordan Earned More Than $1 Billion From Nike
Nike has been by far Jordan’s most lucrative endorsement deal as Forbes reported that the basketball legend has earned an estimated $1.3 billion from the shoe company since he entered the NBA in 1984. This number is only going to continue to grow given the popularity of Jordan’s retro sneakers in addition to his continued work with Jordan Brand.
It almost never happened as Jordan detailed in The Last Dance documentary. Jordan preferred to sign with Adidas and was reluctant to go to a meeting with Nike that had already been arranged. Nike has Jordan’s mother, Deloris Jordan, to thank as she insisted that her son go to the meeting even if he did not want to do so. Jordan perceived that Nike was offering him the best opportunity and their partnership changed how athletes were viewed by sneaker companies.
Jordan’s annual income from Nike first topped $100 million in 2015 and this number has only gone up since reaching the milestone, per Forbes. The NBA legend earned $145 million from Nike in 2019.
3. MJ Earned $93.7 Million From His NBA Career With the Bulls & Wizards
Jordan earned most of his money outside the basketball court, but it was his athletic success that helped create more financial opportunities. According to Spotrac, Jordan earned $91.7 million during his 14 seasons with the Bulls and a little more than $2 million in two seasons with the Wizards. Jordan earned a total of $93.7 million over his 16 NBA seasons.
While this is a great deal of money, Jordan missed out on the more lucrative contracts we see in today’s NBA. Jordan’s $30 million salary during the 1996-97 season along with his $33 million salary the following season were severe outliers compared to his NBA earnings over the majority of his career.
4. Jordan Purchased the Hornets for $175 Million in 2010
Forbes reported that Jordan purchased the Hornets, at the time known as the Bobcats, for $175 million in 2010. The franchise value of the Hornets along with other NBA teams has accelerated over the last decade. Jordan is still the majority owner of the team but sold 20 percent of the franchise based on a $1.5 billion valuation of the team.
Despite its massive value, the Hornets rank near the bottom of NBA franchises at No. 25 out of the 30 teams. The top five NBA franchises are all valued at more than $3 billion with the Knicks sitting at No. 1 with a $4.6 billion value.
5. Jordan Has a Small Ownership Stake in the Miami Marlins
According to the Miami Herald, Jordan teamed up with his friend Derek Jeter to purchase a stake in the Marlins. Jeter owns the sixth-largest stake in the team, but Jordan’s share is much smaller. Jordan’s $5 million gives him a less than one percent stake in the team at .63 percent ownership.
Jordan has a number of other investments including sports data provider Sportsradar, headphone brand Muzik and freelance tech marketplace Gigster, per Forbes. The former Bulls star has also been active in the community including a $7 million donation to open the Novant Health Michael Jordan Family Medical Clinic aimed to provide Charlotte residents with healthcare regardless of their insurance coverage.