Today Michael Jordan is worth $2.1 billion. In comparison, Tiger Woods is the next-richest athlete with $800 million.
Michael Jordan’s meteoric rise in becoming the greatest NBA star of all-time started in 1984 when he joined the Chicago Bulls as a rookie, and subsequently signed a lucrative deal with Nike. Since, Jordan has become one of, if not the biggest cultural icons over the past decades and in 2014 he became the first athlete to become a billionaire.
In fact, no one currently comes close to the G.O.A.T. in terms of wealth. Even after retiring from basketball over 20 years ago, the 57-year-old Jordan still manages to bring in the big bucks from his numerous endorsements, investments, and his Jordan Brand empire, which brought in $130 million in 2019 alone.
Below is a break down of Michael Jordan’s net worth.
13 The Last Dance Documentary
It has been reported that Michael Jordan earned a whopping $4 million for the currently running ESPN documentary miniseries The Last Dance, (which can be seen on Netflix outside the US), that focuses on the Chicago Bulls during the 1997-98 NBA season.
However, Jordan plans to donate all of his earnings from The Last Dance to charitable causes.
12 Total NBA Career Earnings
Michael Jordan is now considered to be the G.O.A.T. of basketball. During his 15 year NBA career, the All-Star won five MVP awards and six NBA Championship titles, including a three-peat with the Chicago Bulls.
Jordan earned $94 million in total as a player for the Bulls for 13 years and Wizards for two. However, Jordan’s income today is more than his total playing salary during his NBA career.
11 Final Two Years With The Bulls
Michael Jordan may have been the biggest basketball star of the time, however, he was only earning less than $1 million a year during his first four seasons with the Bulls and gradually started to earn between $2 million to $4 million from 1988 to 1994.
It wasn’t until his final two years with the Bulls (1996-97 and 1997-98) that Jordan pulled in about $63 million, subsequently becoming the league’s highest-paid star.
10 Signing Bonus
Compared to what athletes are being paid today, Michael Jordan was definitely underpaid and great value for money. It wasn’t even until his fourth year with the Bulls, during the 1988-89 NBA season, that Jordan was pulling in more than a million for his salary.
However, Jordan did reportedly receive a $10 million signing bonus from the Bulls.
9 Charlotte Hornets Ownership
Jordan purchased the Charlotte Hornets in 2010 for $175 million, after being a majority investor in the team since 2006. Jordan’s purchase in the basketball team paid off and the NBA franchise’s value is now worth more than $1.5 billion.
Thanks to this, Jordan officially became a billionaire in 2014 and he still owns 97% of the equity in the club.
8 Nike Royalties
Although Jordan was originally hoping to sign with Adidas, the sportswear giant couldn’t offer him a sponsorship. Then came Nike who signed the living ledged back in 1984 for a seemingly measly $500,000 a year in comparison to today’s outlandish deals.
Nike founder Phil Knight has shared that signing Jordan was the best decision he’s ever made. Jordan is reportedly making $100-$120 million a year from royalties alone.
7 Jordan Brand Empire
No one comes close to Jordan when it comes to lucrative sneaker deals. According to Forbes, Jordan earns around $130 million a year through his Jordan Brand empire, even though he retired over 20 years ago. In comparison, LeBron James follows behind Jordan, however, he only makes around $32 million via his sneaker deal with Nike. Overall, Jordan Brand has paid the athlete an estimated $1.3 billion and makes over $3 billion a year in revenue.
Jordan Brand has released some of the rarest and most-sought-after silhouettes in the sneaker game, with some even selling for over $2 million per pair.
6 Endorsements
Jordan has numerous endorsements with big-name companies such as Gatorade, Coca-Cola, trading card company Upper Deck, Wheaties, Chevrolet, and Hanes.
But don’t let that fool you. Jordan didn’t sign with just any company. He turned down a $1 million per year deal with Beanne Weenees because he felt like it was too off-brand for him and he didn’t like the name.
5 Restaurateur
Jordan’s expansive portfolio also includes owning several restaurants. Among them is 1000 NORTH, a premier waterfront restaurant that serves up seafood in Jupiter, Florida.
Additionally, he owns the Michael Jordan's Steak House franchise, an upscale restaurant serving elevated American classics, which has locations in Chicago, Illinois, Connecticut, and Washington, and Michael Jordan’s Restaurant in a suburb of Chicago.
4 Investments
Along with his large share in the Charlotte Hornets, Jordan has also been investing in Sportradar, a Switzerland-based sports data provider; headphone brand Muzik; Gigster, a San Francisco-based marketplace for freelance tech talent; and aXiomatic, which is valued at $320 million.
Jordan also launched a premium tequila brand, Cincoro, which charges $1,600 for its most expensive bottle, and also owns a Nissan car dealership located in Durham, North Carolina.
3 Real Estate
Jordan unsurprisingly owns a bevy of private properties including homes located in Illinois, Florida, North Carolina, and Utah. Currently the G.O.A.T. is trying to sell his Chicago mansion, which is currently listed at $14.9 million.
His Florida home is worth $12.4 million, whilst the one located in North Carolina is around $2.8 million. Finally his Park City, Utah pad is listed for $7.5 million. Jordan reportedly owns more property including a condo in Charlotte.
2 Lawsuit Winnings
Being the biggest athlete in the world comes with its downsides. In April, almost after an eight-year battle with a Chinese knockoff brand, Michael Jordan and his Jordan Brand empire won a trademark lawsuit.
The Chinese brand in question was Qiaodan Sports, which appropriated the Chinese translation of Jordan’s name and a very similar Jumpman insignia on its merchandise. It’s reported that Jordan won millions and donated the winnings to charity.
1 Baseball
And how can we forget the year Jordan sat out of the 1993-94 NBA season to play minor league baseball for the Chicago White Sox? He still managed to get paid $4 million by the Bulls.
Usually, those who play minor league baseball are looking to make it to the big leagues. Michael was mostly doing it to reconnect with his father, who was tragically murdered in the Summer of 1993 and most likely only made around $1,100 a month.
Jordan’s affair with baseball doesn’t just end there; he is also a minority owner of the MLB team the Miami Marlins. Derek Jeter is the club’s CEO and owns 4 percent.
Sources: Business Insider, Forbes, ESPN
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