One of the most iconic figures in basketball’s history, Michael Jordan's net worth is a topic of fascination for many. While Jordan’s fortune does not come close to that of Elon Musk or Bill Gates, he is one of the richest people in the world, reflecting his immense success both on and off the court. Jordan was the first professional athlete to reach billionaire status.
Today, many sports stars, such as David Beckham, Tyson Fury, Lewis Hamilton, and Cristiano Ronaldo have followed in his footsteps, but Jordan pioneered the ‘sports influencer’ persona, using his name recognition within the sport to create a billion-dollar brand far beyond the basketball court.
According to Forbes, Michael Jordan has a net worth of $3.5 billion. We look at where Michael Jordan’s net worth comes from and how he built his fortune.
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Michael Jordan’s net worth as a basketball player
Michael Jordan’s basketball career is, in a word, legendary. His most notable achievement was winning six NBA championships with the Chicago Bulls between 1991 and 1998, where he was named the NBA Finals Most Valuable Player each time. During this period, his average annual salary was a whopping $900,000.
On top of these accolades, Jordan also holds the record for the highest career scoring average in NBA history. He scored an average of 30.1 points per game, and the record still stands to this day. Before his career in the NBA, Jordan represented his country at the Olympics, winning gold with the USA basketball team in 1984 and 1992.
With this track record, it’s no surprise the player was inducted into the Naismith Memorial Basketball Hall of Fame in 2009 – the highest honour that can be bestowed upon a basketball player.
Michael Jordan's career as a business mogul
Michael Jordan is not only one of the greatest basketball players of all time but also a highly successful businessman. He’s amassed a vast fortune through strategic partnerships and his ownership of the Charlotte Hornets.
In 2010, Jordan became the first former NBA player to become the majority owner of an NBA team when he took control of the Charlotte Bobcats, now known as the Charlotte Hornets. While the team has not achieved significant success, losing in the first round of the NBA playoffs three times in the past 13 years, it has nonetheless been a profitable investment for Jordan. He has since sold his stake in the team for $3 billion.
Then there’s Jordan’s partnership with Nike. Jordan signed his first deal with Nike in 1984 to create a new line of branded sneakers, called Air Jordan, worth $500,000 per year plus royalties. Quickly, these sneakers became a cultural phenomenon, and seeing booming sales, Nike expanded the brand into clothing and accessories.
Air Jordan has become one of Nike's most successful product lines. Forbes estimates that Michael Jordan has earned $1.3 billion from the sportswear giant since 1984.
Away from his main business ventures, Jordan has also dabbled in other areas, including car dealerships, sports betting firms, a motorsports team in the NASCAR Cup Series and co-founding the tequila brand Cincoro alongside other NBA owners.
Jordan is one of the most marketed sports figures in history. He is associated with brands such as Coca-Cola and McDonald’s and has appeared in more than 20 commercials for Gatorade, famously endorsing the song Be Like Mike.
Jordan’s competitive streak extends beyond the basketball court, driving him to success in the world of business. Recently, Jordan secured a buyer for his $14.85 million mansion ‘Highland Park’, in Chicago after the property had been on the market for 12 years. It features a full-size basketball court, with the Air Jordan logo in the middle, an infinity pool, a putting green, a sauna, a tennis court, and a cigar room.
But despite his widespread appeal, he has maintained tight control over his image rights, creating an air of exclusivity for the Michael Jordan brand.
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