The man who needs no introduction, Michael Jordan, is also regarded as the NBA’s greatest basketball player of all time, as stated on its official website. Apart from Jordan’s great basketball career, the player is also renowned as a businessman, which adds up to the player’s $3.5 Billion fortune which is around 300 crore INR Jordan’sloomberg Billionaires. As the title suggests, in this blog, we will break down Michael Jordan net worth to understand the sources in detail that bulk up to make the billion-dollar fortune.
Michael Jordan Net Worth 2023
In a recent article published by Forbes, the NBA player is beaming in cash after the recent sale of his majority ownership stake in the Hornets, making the Hall of Famer the first professional athlete to rank among America’s wealthiest and becoming a part of Fortune 400.
Table of Content
Highlights – Michael Jordan Net Worth
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Date of Birth |
February 17, 1963 |
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Place of birth |
Brooklyn |
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Gender |
Male |
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Height |
6ft 5in |
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Profession |
Basketball player, Athlete, Spokesperson, Entrepreneur, and Actor |
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Nationality |
United States of America |
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Net Worth |
$3.5 billion (300 Crores INR) |
Michael Jordan Net Worth in 2023
Michael Jordan net worth soared higher than before after he sold his 80% stake in the Charlotte Hornets with a finalized evaluation of $3.5 billion. The sale was led by Gabe Plotkin and Rick Schnall, while Jordan continues to hold 10% stakes to keep his presence with the team. This deal ended Jordan’s 13-year majority stakeholder run.
Prior to the sale, Michael Jordan’s worth was $2.2 billion. This deal grabbed him $1.1 billion but he still owned a $300 million stake, bringing the player’s net worth to $2.6 billion.
Who is Michael Jordan?
Michael Jordan is a retired American professional basketball player, businessman, team owner, multi-brand endorser, and whatnot. He is considered the greatest NBA player of all time and is also reported to be the richest NBA player to date. Jordan’s net worth concludes at $2.6 billion.
The player is currently enjoying his semi-retirement phase with inflows of endless cash from big endorsements and development deals, in addition to living with the reputed title of GOAT of the NBA.
He is likely the most famous NBA player with the media continuously comparing newcomers and existing performances with Jordan in pursuit of finding the next Jordan of the NBA. The title is continuously passed among players. But the NBA doesn’t really mark his billionaire status for obvious reasons.
Michael Jordan’s Endorsement Earnings
Michael Jordan was an early bird, with fortune flooding in sooner in his career. Over the years, the player’s impressive basketball career has brought him countless endorsements.
Currently, he is a spokesperson for corporate brands like Nike, McDonald’s, Coca-Cola, Chevrolet, Ball Park Franks, Hanes, MCI, Rayovac, Wheaties, and Gatorade. Also, Jordan maintains ambassadors for Upper Decks, 2K Sports, and Five Star Fragrances. In addition, the player has car deals and owns seven restaurants.
In contrast to Michael Jordan’s NBA career, the player has earned up to $1.1 billion from his corporate contracts over the years. It was allegedly revealed that he does not sign a partnership deal with a brand for less than $10 million.
Michael Jordan’s Other Sources of Income
- Michael Jordan became a billionaire in 2014 and expanded his fortune to $2 billion by 2020.
- In addition to his NBA salary earnings of $94 million, he has multiple other sources of income.
- One major source of income was his sale of 80% of his ownership in the Charlotte Hornets.
Jordan also possesses a substantial real estate and automation collection, which includes:
- A $50 million customized jet.
- A 7-acre property with a mansion in Chicago.
- A mansion in Jupiter, Florida, with an estimated value of $7.6 billion.
Michael Jordan’s Charity Work
- Early philanthropic efforts include a $2 million donation, with $1 million each going to the Institute for Community-Police Relations and the NAACP Legal Defense Fund.
- In 2017, Jordan pledged to establish two health clinics in Charlotte for low-income and insured individuals. The first clinic opened in October 2019, followed by the second in October 2020.
- Jordan donated all of his profits, which amounted to $3-4 million, from the documentary series “The Last Dance” to charity in April 2020.
- During the COVID-19 pandemic, Jordan contributed $2 million to the charity Feeding America to support those in need.
- On his 60th birthday in February 2023, Michael Jordan made his most significant single charitable gift, announcing a $10 million donation to the Make-A-Wish charity.
Achievements – Key Takeaways
- Michael Jordan led the Chicago Bulls to six NBA championship titles.
- Earned the prestigious title of five-time league MVP.
- Holds the highest career scoring average of all time.
- Jordan was inducted into the Hall of Fame on September 11, 2009.
- Received the Presidential Medal of Freedom from then-President Barack Obama in November 2016.
- Achieved several other notable titles during his career, including Ten-Time All-NBA First Team, Defensive Player of the Year, and Six-Time NBA Finals MVP.
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Investments
DraftKings:
- Jordan serves as an advisor and investor in the sports betting company DraftKings.
- He acquired a stake in the company in exchange for becoming a special advisor.
- As of June 2023, DraftKings has a market capitalization of approximately $11.8 billion.
Cincoro Tequila:
- Jordan is a co-owner of the luxury tequila brand Cincoro, created with four other NBA owners.
- The brand has sold 1.5 million bottles nationally and has won 23 awards in spirit competitions (as of 2022).
- Cincoro tequila offers a range of bottles, with prices ranging from $300 to over $4,500 for limited edition bottles.
NASCAR (23XI):
- Jordan is a co-owner of the NASCAR team 23XI, along with NASCAR driver Denny Hamlin.
- The team is reportedly valued at $150 million.
Michael Jordan’s Steak House:
- Jordan owns his own restaurant chain, “Michael Jordan’s Steak House,” with locations in Illinois, Connecticut, and Washington.
Conclusion
Michael Jordan’s incredible journey from a legendary NBA player to a business mogul is a testament to his exceptional financial acumen. While his basketball prowess initially brought him fame, it was his endorsement deals and strategic investments that propelled him to immense wealth. His estimated net worth, which had reached $2 billion as of early 2023, has reportedly surged to $3.5 billion, underlining the ever-expanding empire he has built.
With a diverse portfolio of businesses, ownership stakes, and philanthropic efforts, Michael Jordan continues to be a prominent figure in both the sports and business worlds.
Michael Jordan Net Worth – FAQs
1. How much did Nike pay Michael Jordan for their five-year deal?
Nike offered Jordan $500,000 per year for the five-year deal, something Adidas didn’t comply with.
2. Is Michael Jordan the richest athlete of all time?
Yes, as evaluated by Forbes, Michael Jordan is the richest athlete of all time and the highest-paid athlete to date.
3. When Michael Jordan get the Hall of Fame award from the NBA?
Michael Jordan was included in the list of Hall of Fame award from NBA on 11 September, 2009.