Michael Jordan is arguably the most successful NBA athlete of all time. Jordan has been remarkable in both on and off-the-court achievements. Although now we have three billionaires in the NBA, Jordan was the first one to reach that mark. While most people marvel over what he did in the league with the Chicago Bulls, his off-court accomplishments are equally impressive if not more.
Today his net worth is valued at a staggering $3 billion. Let’s have a look at all the investments, promotions, and collaborations that have landed MJ on the billionaire list.
How Michael Jordan made his billions
Jordan’s fate changed during his rookie year. On October 26, 1984, Michael Jordan signed a five-year, $2.5 million deal with Nike. This might not seem a lot when compared with the deals that are made today. However, for that time, it was three times the amount that any other athlete had received in the history of the league. In April 1985, Nike released the Air Jordan line with which they hoped to make $3 million. However, the Jordan brand surpassed all expectations, and it ended up making over $126 million in the first year. After that, the Jordan brand has only scaled new heights.
Nike remains the biggest income source for the Bulls legend in amassing a $3 billion net worth. Apart from Nike, he has made several investments that fetch him a lot of money. He has invested in Sportradar, Muzik, Gigster, and aXiomatic. Other than these, he is also a proud part-owner of a high-end tequila brand called Cincoro. Jordan is big on investing in sports teams and franchises. He owns the 23XI Racing team that participates in NASCAR. He was also a majority owner of the NBA franchise Charlotte Hornets. Jordan purchased the team back in 2010 for $275 million. After 13 years as the team’s owner, Jordan sold his stake in the team earlier this year for a massive $3 billion. This deal further helped MJ elevate his net worth to another level.
Michael Jordan’s endorsements and philanthropic work
A shrewd businessman, Jordan has time and again proved that he has a knack for making money, and his massive wealth is a testament to the same. However, investment is not all that he does. The 60-year-old promotes several brands including Nike, Hanes, Gatorade, and Upper Deck. This also adds a huge amount to his earnings.
With such an amount of money pouring in, Jordan is also a philanthropist. The NBA legend supports several causes including the Make-A-Wish Foundation, St. Jude Children’s Research Hospital, Nevada Cancer Institute, and the Boys and Girls Clubs of America.