January 18, 2022

Earn Money

Business Life

Michael Jordan’s net worth and how he makes and spends his billions

Table of Contents

As of 2015, he was reportedly making $100 million a year from Nike royalties alone.

michael jordan at nike jordan brand event in 2006



AP


Source: Business Insider

And his income now is way more than his total playing salary during his career. He earned $90 million total in NBA salary, and about $63 million of that came in his final two seasons with the Chicago Bulls.

michael jordan in 1991



AP


Source: Forbes, Spotrac, Basketball-Reference

His net worth is now believed to be $2.1 billion thanks to the skyrocketing value of his NBA team, the Charlotte Hornets …

adam silver michael jordan

NBA commissioner Adam Silver, left, and Charlotte Hornets owner Michael Jordan, right, pose for a photo during a news conference to announce Charlotte, N.C., as the site of the 2017 NBA All-Star basketball game. In July, the NBA announced it would move the game because of its objections to a state law limiting anti-discrimination protections for lesbian, gay and transgender people.

AP Images/Chuck Burton


Source: Money

… and the Jordan Brand.

Nike Air Jordan 12

Nike Air Jordan 12

Nike


Source: Forbes

He bought the Charlotte Hornets in 2010 for $175 million …

hornets



Streeter Lecka/Getty


Source: Forbes, Business Insider

… and he officially became a billionaire in 2014 when the NBA franchise value rose.

Dwight Howard Charlotte Hornets Brooklyn Nets



Abbie Parr/Getty Images


Source: Business Insider

The team is now worth more than $1.5 billion, and he owns 97% of the equity in the club.

Michael Jordan comments on Phil Jackson



Getty Images


Source: Forbes

Jordan did sell a minority stake in the club in 2019, but he reportedly has no interest in giving up control of the team.

hornets



Streeter Lecka/Getty


Source: Charlotte Observer

Jordan is still waiting for the day the Hornets win a championship. He has said that winning a championship as an owner would be more gratifying than any of the six rings he won as a player.

michael jordan trophy



Jeff Haynes/Staff/Getty Images


Source: Business Insider

According to Forbes, Jordan’s yearly earnings were roughly $145 million.

Michael Jordan



Elsa/Getty


Source: Forbes

For comparison, LeBron James is estimated to earn less than $90 million a year from salary, winnings, and endorsements.

lebron james



Chris Szagola/AP


Source: Forbes

Nike founder Phil Knight called signing Jordan the best decision he ever made, nabbing the NBA rookie for $250,000 a year in 1984.

Phil Knight



Christian Petersen/Getty Images


Source: Business Insider

Nike’s Jordan Brand alone now brings in roughly $3 billion in revenue each year.

Michael Jordan

NBA legend Michael Jordan holds up an autographed AJ19 shoe, the latest design in the Air Jordan shoe line, at a Hong Kong news conference.

AP/Anat Givon


Source: Business Insider, Los Angeles Times

The popularity of Air Jordans has resurged in recent years thanks to celebrity partnerships to connect to a younger audience and new versions of retro styles to reconnect to the older fans.

Serena Williams wears Air Jordans at Australian Open



Cherish/Flickr


Source: Business Insider

Jordan reportedly wanted to sign with Adidas in 1984, but they passed because they preferred NBA players who were 7 feet tall.

Michael Jordan



Jonathan Daniel /Allsport


Source: Business Insider

He has several endorsement deals with companies like Gatorade …

michael jordan last game



Ezra Shaw/Getty


Source: Business Insider

… trading card company Upper Deck, …

michael jordan 1992



Susan Ragan/AP


Source: Business Insider

… and Hanes. He’s been a spokesman for the company for nearly 30 years.

Michael Jordon Hanes Ad



YouTube/Hanes


Source: Business Insider

Jordan said he has always been picky about his endorsements because he wanted to be genuine and also build his own brand. He once rejected a huge endorsement deal with Beanee Weenees because he didn’t like the name.

Beanee Weenees




Amazon



Source: Playboy

Jordan told Playboy, “How can I stand in front of a camera and say I’ll eat Beanee Weenees?” He said the deal was close to $1 million per year — at the time, he had made less than $5 million in career earnings.

michael jordan



Tiziana Sorge/Stringer/Getty Images


Source: Playboy

… Michael Jordan’s Steakhouse, which has locations in Connecticut, Washington, and Chicago …

Michael jordan's restaurant



Steve Kagan/Contributor/Getty Images


Source: Michael Jordan’s Steakhouse

He also owns a Nissan dealership in Durham, North Carolina.

FILE PHOTO: Nissan signs are seen outside a Nissan auto dealer in Broomfield, Colorado October 1, 2014.  REUTERS/Rick Wilking

Nissan signs are seen outside a Nissan auto dealer in Broomfield, Colorado

Google Maps


Source: Business Insider, Michael Jordan Nissan

In 2019, many billionaires lost money — but not Jordan. His net worth rose by $300 million.

Michael Jordan

Michael Jordan is known as the greatest basketball player of all time. He’s also the richest.

Jordan Brand via Getty Images


Source: Forbes

That steady stream of income lets him live a pretty amazing lifestyle.

michael jordan laughing



Streeter Lecka/Getty Images


He has a private jet. It’s painted Carolina blue, and the ID number contains his jersey number (23) and number of titles (6).

michael jordan plane




YouTube



Source: Business Insider

He spent $12.8 million building his dream house in Florida in 2012.

michael jordan jupiter house



Google Maps


Source: Yahoo, Business Insider

He reportedly decided to build a private golf course because he was annoyed by the pace of play at his previous country club.

michael jordan golfing



Isaac Brekken / Stringer / Getty Images


Source: GOLF.com

The Hobe Sound, Florida, course is called Grove XXIII — keeping with his obsession with the No. 23 — and opened in the fall of 2019.

Michael Jordan



Isaac Brekken/Getty Images for Michael Jordan Celebrity Invitational


Source: Golf Digest

Jordan even has a custom, Carolina-blue golf cart with the Jumpman logo.

michael jordan golf cart



Isaac Brekken/Stringer/Getty Images


Source: Business Insider

He’s selling his compound in Chicago, which was originally listed for $29 million. The estate’s gate is emblazoned with his jersey number.

michael jordan house

A gate with the number 23 controls access to the home of basketball legend Michael Jordan on October 21, 2013 in Highland Park, Illinois. Twenty-three is the number Jordan wore while playing basketball for the Chicago Bulls. The home which had been offered for sale for $29 million and later dropped to $21 million is scheduled to be sold at auction on November 22. The 32,683-squre-foot home features nine bedrooms, 19 bathrooms, a 15-car attached garage and an “NBA-quality” basketball court.

Concierge Auctions


Source: Business Insider

But eight years later, the house is still on the market and the price is down to $14.9 million.

Michael Jordan patio mansion



Realtor.com


Source: Business Insider, Zillow

It is estimated that Jordan has paid more than $680,000 in property taxes since he put the house up for sale.

Michael Jordan house



Zillow


Source: Business Insider

And he still pays a full-time staff to keep it up and running.

Michael Jordan Kitchen Chicago Mansion



Realtor.com


Source: Business Insider

Luxury real estate brokers think the amount of customization the house has undergone in order to become Jordan’s personal palace is one of a few reasons why the property hasn’t sold yet.

Michael Jordan



Streeter Lecka/Getty


Source: Business Insider

In 2016, Jordan won a case against a Chinese sportswear company that was using his Chinese name.

MICHAELJORDAN LAWSUIT CHINA.JPG



Aly Song/Reuters


Source: Business Insider

The company had been using a logo similar to Jordan’s Air Jordan logo, and the symbols used spell out his name in Chinese — Qiaodan Sports. He first sued the company in 2012, but lower-level courts ruled in favor of the company.

Qiaodan Sports Michael Jordan




NTDFrench/YouTube



Source: Business Insider

That’s not the only lawsuit he’s been involved in though pertaining to his name and branding. Two supermarkets, Dominick’s and Jewel-Osco, associated themselves with Jordan without his permission.

michael jordan



Chuck Burton/AP


Source: Business Insider

Jordan sued and won millions. But he didn’t keep all the money.

jordan lawsuit

Basketball Hall of Famer Michael Jordan arrives at the federal courthouse in Chicago, Tuesday, Aug. 18, 2015. Jordan is expected to take the stand in his case against a now-defunct grocery store chain that used his image without permission.

AP Photo/Christian K. Lee


Source: Business Insider

Instead, he donated millions to 23 charities benefiting the children of Chicago.

michael jordan



Charles Rex Arbogast/AP


Source: Business Insider

In 2018, he donated $2 million to Hurricane Florence relief efforts.

hurricane florence

A convoy of utility trucks heading east to assist with damage caused by tropical storm Florence makes its way through an overfished stretch of U.S. Hwy. 70 east of Kinston, N.C., on Saturday Sept. 15, 2018. The road was closed to the public.


AP Photo/Chris Seward



Source: Chicago Tribune

In 2019, he pledge $7 million to open two medical clinics in Charlotte.

michael jordan



Chuck Burton/AP


Source: Business Insider

The pair married in 1989 and divorced in 2006. The 17-year marriage cost Jordan a whopping $168 million in the settlement.

michael jordan juanita jordan

Pictured above are Michael Jordan and his then-wife Juanita.

Reuters


Source: Biography, NBC Chicago

Jordan’s three oldest children have all followed their father into the shoe business. Jeffrey, the oldest, works at Nike in Oregon, and Jasmine, the youngest, has worked for her father’s NBA team as well as being an Air Jordan representative in Charlotte.

Jordan kids




Jasmine M. Jordan/Instagram



Source: Business Insider

Jordan married Yvette Prieto in 2013, and they welcomed twin daughters, Victoria and Ysabel, in 2014.

yvette prieto michael jordan



Ethan Miller/Getty Images


Source: USA Today

Jordan has invested some of his fortune in tech startups. He was reportedly one of several celebrities who invested heavily in Gigster — a Silicon Valley startup connecting companies to freelance software developers, designers, and project managers.

gigster cofounders smaller

Gigster cofounders Debo Olaosebikan, left, and Roger Dickey, right.

Gigster


Source: Business Insider, Gigster

He is also a minority owner of an MLB team — the Miami Marlins — having been part of Derek Jeter’s investment group.

Michael Jordan and Derek Jeter



Tony Ding/AP


Source: Business Insider

Jordan is also a famous gambler. Charles Barkley told Dan Patrick Jordan used to wager hundreds of thousands of dollars on a single hole when he played golf. While others, like Barkley himself, would wager a few hundred dollars.

charles barkley michael jordan



John Swart/AP


Source: Business Insider, Dan Patrick Show

He also used to play $100 post-practice shooting games. One source said Jordan’s taunting of Rodney McCray may have ruined McCray’s career.

Rodney McCray

Pictured above is Rodney McCray.

Jonathan Daniel /Allsport


Source: Business Insider

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