Michael Jordan is arguably the most influential basketball player of all time. Such an influence earned him a massive net-worth, which granted him billionaire status.
Considered one of the best basketball players of all time, Michael Jordan is also one of the world’s richest sports celebrities. Though he retired a long time ago, Jordan’s entrepreneurial career made him a billionaire, with an ever increasing net worth.
Michael Jordan was considered the best basketball player of all time during the 1990s, at the peak of his career. Between 1984 and 1998 he played for the Chicago Bulls, smashing every possible leaderboard in the world.
Michael Jordan brought the Bulls to six NBA titles, as well as winning two olympic gold medals in 1984 and 1992. He has the world record for highest points scored on average, with a stunning 30,1 for the NBA regular seasons and 33,4 for the playoffs. Michael Jordan has been the best NBA scorer for 7 years in a row, a record shared only with Wilt Chamberlain.
Michael Jordan is definitely the most recognizable basketball player of all time. He is the reference point of any other aspiring player, with everyone trying to become “the new Michael Jordan”.
But Jordan’s net worth does not come from the salary he earned while playing professionally. In fact, it would be only after his retirement in 2003 that basketball players started signing really high-paid contracts, partly thanks to the renewed influence Jordan himself gave to the sport.
Business ventures and post-retirement career
It is estimated that Michael Jordan earned $93 million in total throughout his basketball career. A high net-worth for sure, but over 10 times smaller than billionaire status.
Nowadays, also because of inflation, basketball salaries are much, much higher. LeBron James, by the time he will retire, will have accumulated over $500 million in salaries.
And yet, Michael Jordan is today a multi-billionaire. He achieved such a high net worth because of three main factors: endorsements, his deal with Nike and the Charlotte Bobcats NBA team.
Jordan’s endorsements date back to when he still played and continue to this day. He endorsed multinational brands with the likes of McDonald’s, Coca Cola and Chevrolet. It’s estimated that Jordan earned around $1.4 billion in total through endorsements.
With Nike, he signed a deal to create the famous Air Jordan brand, whose royalties entitle Jordan to receive $4 for every shoe sold. Today, Nike pays Michael Jordan around $100 million every year in royalties.
Finally, Michael Jordan owns a majority stake in the Charlotte Bobcats team, acquired through years of negotiations.
In 2014, these three ventures combined made Michael Jordan a billionaire for the first time. Today, Jordan’s net worth has more than doubled to $2.2 billion.
But the most valuable asset Jordan still holds is his legacy, which will truly be unparalleled for decades if not centuries after his passing.
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