Michael Jordan is not just a name; it’s an emblem of greatness. He soared to unparalleled heights on the basketball court. As reported by Bloomberg, the Chicago Bulls legend and former Charlotte Hornets owner has amassed an extraordinary net worth of $3.5 billion.
This staggering sum has earned him the title of the richest basketball player in history. From his illustrious NBA career, highlighted by six championship titles and a long list of awards, to his business ventures, the journey of his empire is remarkable.
The recent wave in Jordan’s wealth is due to the sale of his majority stake in the Hornets. The franchise, now valued at $3 billion, was acquired by hedge fund tycoon Gabriel Plotkin and private equity mogul Rick Schnall, according to ESPN. Jordan’s visionary investment which earlier turned him into the league’s first black owner, has reaped exceptional rewards.
There’s more to his journey. The iconic Jordan Brand, a collaboration with Nike, is a cornerstone of his empire. With roots dating back to his rookie year in 1984, this partnership has become a major revenue source.
Last year alone, the brand raked in an astonishing $5.1 billion for Nike, constituting a remarkable 11% of the company’s total sales. Jordan‘s relationship with Nike isn’t merely about sneakers.
The agreement inked nearly four decades ago, entitles him to $500,000 annually and a 5% royalty on Jordan Brand’s earnings. This dynamic partnership also involves endorsement and bonus-style payments, contributing to his substantial wealth.
Is Michael Jordan the richest athlete in history?
The court remains a significant source of Jordan’s wealth. Over his career with the Bulls and Washington Wizards, Jordan earned a staggering $94 million. This on-court success laid a foundation for his future empire.
Furthermore, endorsement deals with Hanes, Gatorade, Chevrolet, McDonald’s, and more have significantly contributed to his fortune. Notably, his decade-long collaboration with Gatorade produced a catchy “Be Like Mike” commercial and an annual estimated income of $1.4 million.
The Top 10 highest-paid athletes of all time, according to @Sportico.
For context, Michael Jordan's Nike income alone ($1.8 billion) would put him #3 on the list. pic.twitter.com/QL8l79wbjh
— Joe Pompliano (@JoePompliano) March 7, 2023
Jordan’s ability to forge enduring relationships with brands along with his in-court skills and performance is unparalleled. Beyond basketball, Jordan has ventured into unexpected industries. His ownership of Nascar’s 23XI Racing and his equity stake in DraftKings showcase his diversity of incomes.
Notably, Jordan’s real estate holdings are grand. A mansion in Florida’s exclusive enclave, and a stately nine-bedroom home in Chicago. Additionally, estates in North Carolina, and a residence in Ski City, Utah, all contribute to his wealthy lifestyle.
Additionally, the Bulls star owns a customized Gulfstream G-IV private jet marked with his iconic “Jumpman” logo. His net worth of $3.5 billion, reached by his investments and enduring partnerships, strengthens his place as the richest basketball player in history.