Michael Jordan Becomes The First Athlete To Reach The Forbes 400 List
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That’s Baller: Michael Jordan Becomes Richest Basketball Player In History With $3.5B Net Worth

Michael Jordan is perhaps the best basketball player ever and unquestionably the richest in the history of the NBA.

According to Bloomberg, Jordan boasts an incredible net worth of $3.5 billion, having achieved six NBA titles in his 15-year career and owning the Charlotte franchise.

ESPN reported that Jordan’s wealth grew once he sold his Hornets stake for $3 billion earlier this month, with buyers being hedge fund tycoon Gabriel Plotkin and private equity mogul Rick Schnall.

Jordan made history when he became the league’s first Black owner in 2010 by buying Charlotte, formally known as the Bobcats, for $275 million.

Bloomberg’s estimation indicates that the 60-year-old basketball legend turned entrepreneur sold a 65% stake in the team while retaining an ownership interest of under 5%.

In addition to the Hornets’ transaction, Jordan’s seven-figure fortune originates from his Jordan Brand clothing licensing agreement with Nike.

Last year, Nike’s partnership with Jordan, originating in his 1984 rookie year, yielded $5.1 billion in revenue, a remarkable 11% of Nike’s total sales.

Under the Jordan Brand deal, Jordan secured a $500,000 yearly payment and a 5% royalty on all earnings.

Bloomberg reported that these partnerships often include bonuses upon meeting certain goals, but the specifics of Jordan’s decades-old contract with Nike remain private.

In 2022 alone, based on publicly available information, Jordan earned $255.5 million from his association with the athletic apparel giant.

Jordan’s endorsements included Hanes, Gatorade, Chevrolet, McDonald’s, Ball Park Franks, Wheaties, Rayovac, and Upper Deck.

His decade-long Gatorade deal from 1991, featuring the iconic “Be Like Mike” ad, earned him roughly $1.4 million annually.

Additionally, He graced the Wheaties box a record-breaking 19 times, a collab unmatched by any other athlete.

Several of these enduring business relationships continue, spanning over 30 years and standing as some of the longest-running endorsements between a brand and an athlete.

While the exact earnings from these deals remain undisclosed, they made Jordan the first billionaire NBA player in 2014.

Income also comes through his ownership and operation of Nascar’s 23XI Racing, a venture initiated in 2020.

That same year, he received an undisclosed equity share in DraftKings, given in exchange for “guidance and strategic advice.”

According to sports contracts tracker Spotrac, Jordan earned over $94 million during his substantial career with the Bulls and Wizards until retiring in 2003.

Jordan also has an impressive real estate portfolio, with his main property in Jupiter, FL,  a nine-bedroom, 19-bathroom home in the Chicago suburb of Highland Park, two estates in North Carolina, and another property in Ski City, Utah.

He also owns a stylish Gulfstream G-IV private jet that fits up to 13 passengers and two crew members.

 

About Iesha

Hi All, my name is I’esha and I’ve been a writer for baller alert for 1 year and 2 months. I’m also a student and entrepreneur .

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