How much money does Michael Jordan earn? Salary, net worth and endorsements
Regarded as the GOAT of basketball, Michael Jordan is as succesful off the court as he was on it. Let's take a look at his net worth and investments.
When it comes to conversations about who the GOAT is, Michael Jordan doesn't just dominate where his own sport - basketball - is concerned. No. It could be said that MJ is the #1 in general. With that, what kind of money are we talking about, when it comes to being the greatest of all time? let's take a look
What is Michael Jordan's current net worth?
As of March 2021, according to Forbes, Michael Jordan's net worth is estimated to be $1.6 billion. Aside from from the significant income which he has earned over decades from the Jordan Brand, he has also had extremely lucrative endorsement deals from major companies in the USA, as well as a number of profitable investments. Jordan has proven himself to be a shrewd businessman time and again. Through his investments and proper money management, he has become one of the wealthiest athletes on the planet. He also owns the majority stake in the Charlotte Hornets, as well as a sizable percentage his personal brand under Nike, the Jordan Brand. Interestingly, after the Jordan brand secured the contract to provide French club Paris Saint German with their kit in 2021, Jordan allegedly earned a further $6 million, when super star Leo Messi signed for the club just off of shirt sales alone.
Michael Jordan's Endorsement Earnings
While his salary was sizeable during his playing career, the reality is Michael Jordan earned the vast majority of his current wealth from endorsements. Accross some four decades, Jordan has earned $1.7 billion (pre-tax) off the court from brands such as Nike, Coca-Cola, McDonald’s, Wheaties, Chevrolet to name a few. At present Jordan still maintains official ties with Nike, Hanes, Gatorade, and Upper Deck. Where Nike specifically is concerned Jordan is quite simply the sneaker giant's biggest source of income. For perspective, consider that his first-ever five-year Nike deal signed in 1984 was worth $500,000 annually (about $1.2 million in today’s dollars), plus royalties. His take last year was $130 million. How does that compare with present day NBA stars? That's 4x as much as LeBron James' current deal which is the 2nd highest in the league.
That time Michael Jordan bought the Charlotte Hornets
It was back in 2010 when Jordan took a step into the realm of ownership. Valued at $175 million, the Charlotte Hornets were a mid table team in the NBA and one of it's newest franchises. After buying a stake, Jordan would eventually raise his stake to 90%. In the end, however, Jordan actually chose to cash in on his investment when he sold 20% of the team in September 2020. The move saw him earn some 1.5 billion when he sold the percentage to a New York-based hedge fund.
Other investments made by Michael Jordan
When discussing Michael Jordan the conversation traditionally focuses on his time on court. Yet it would be bordering on dishonest if one didn't also address how adept Jordan has been in the world of business. To date Jordan has been a participant in the funding rounds for Sportradar, a Switzerland-based sports data provider; Muzik, a headphone manufacturer; Gigster, a San Francisco-based marketplace for freelance tech talent; and aXiomatic. Jordan joined fellow NBA Hall of Famer Magic Johnson in 2018 as an investor in aXiomatic, which is the parent company of esports squad Team Liquid. It's current value stands at $320 million. If that wasn't enough Jordan also joined a handful of fellow NBA stars to create a super-premium tequila brand, Cincoro, last year. Their portfolio includes a bottle of Extra Anejo priced at $1,600
Michael Jordan's Charity Work
If it wasn't clear already, then allow us to be frank, Michael Jordan makes a lot of money. On the other hand it's also clear that he has no problems giving it to the right cause. At present Jordan has been a major contributor to many charitable organizations. Take "The last dance" for example. The recently aired Netflix's documentary tells the story of Jordan’s last championship run with the Chicago Bulls. All proceeds from the project will go to charities, including the Friends of the Children nonprofit in support of the group’s national expansion. In more recent times, Jordan also joined other NBA owners with a pledge to pay arena workers for games missed due tot he pandemic. The NBA legend has also assisted with relief efforts in the Carolinas and has even written a number of multi-million dollar checks in support of hurricane relief efforts the Bahamas.
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There are also other income sources for Michael Jordan
If there is one thing better than having a large source of income, it's having several. Aside from his major investments such as the Hornets and the Jordan Brand itself, MJ has also joined the investor group that purchased MLB’s Miami Marlins for $1.2 billion in 2017. Former Yankee Derek Jeter who is actually a close friend of Jordan's is the club's CEO and owns 4%, while Jordan himself owns 1%. Jordan also happens to own a car dealership and of course what portfolio would be complete without a restaurant? In this case Jordan owns five of them.