What is Michael Jordan biography and what is his networth for 2024? In this article we are going to reveal to you Michael Jordan’s endorsements, salary, asset and much more.
In June 2023, Jordan agreed to sell his majority stake in the Hornets to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, according to a release by the NBA.3 Jordan sold his majority stake in the Hornets in a deal worth an estimated $3 billion, making him the richest NBA player of all time.
As part of the deal, Jordan still has a minority stake in the team. With Jordan selling his majority stake, there will now be zero Black majority owners in the NBA, according to Axios.
A 14-time All-Star and NBA Hall of Famer, Jordan is widely regarded as the best basketball player in the NBA’s history. He has also been among the list of the richest athletes in the world. In 2017, 14 years after his retirement from the NBA, Jordan was the highest-paid athlete of all time, according to Forbes. 6 Jordan earned $1.8 billion from corporate partnerships with Nike, Hanes, and Gatorade, according to Forbes.
Michael Jordan Net Worth
Widely acknowledged as the greatest basketball player of all time, Michael Jordan’s substantial net worth has been amassed largely post his NBA career. Revered not only for his on-court prowess but also for his captivating and marketable persona in NBA history, Jordan’s post-NBA ventures have propelled his net worth to an impressive $3 billion in 2023. This notable increase was notably fueled by the sale of the Charlotte Hornets for $3 billion to a consortium led by Gabe Plotkin and Rick Schnall in June.
|Businessmen and Basketball
|$22 Million +
|$270 Million +
|23 (Chicago Bulls / Shooting guard), MORE
|North Carolina (1981–1984)
|1984: 1st round, 3rd overall pick
Jordan’s most lucrative financial venture arises from his enduring collaboration with Nike. The immensely popular “Air Jordan” brand generates annual revenues in the billions, with Jordan reportedly earning a substantial royalty on each pair sold. This exclusive deal alone is valued at over $1.3 billion for Jordan.
Beyond his association with Nike, Jordan has capitalized on his celebrity status and image, securing lucrative endorsements with major companies such as Gatorade, Hanes, and Upper Deck. These endorsements have significantly bolstered his financial portfolio, contributing hundreds of millions to his net worth.
The Charlotte Hornets:
In 2010, Jordan assumed the role of majority owner of the Charlotte Hornets. Although he divested 80% of his stake in 2020, he continues to serve as chairman and retains a substantial ownership interest. Under his leadership, the franchise’s value has markedly increased, adding to his overall wealth.
Jordan has diversified his financial portfolio through investments in various enterprises, including restaurants, car dealerships, and a production company. These ventures have broadened his income streams and played a pivotal role in his financial success.
While his NBA salary may seem relatively modest compared to his current wealth, it laid the groundwork for his financial empire. Jordan’s exceptional talent and on-court achievements, including six NBA championships, solidified his brand and marketability.
Investments in Other Sports Teams:
Jordan has extended his sports-related investments beyond basketball, acquiring ownership stakes in teams such as the Miami Marlins (baseball) and AXaF1 (a Formula One racing team). These ventures provide additional revenue streams and diversification within the sports industry.
Michael Jordan Assets
House: Michael Jordan owns one of the most expensive houses one can possibly have. He has a massive home in Highland Park, Illinois.
Cars: Michael Jordan has an unbelievable collection of cars. He owns some of the most expensive cars like the Aston Martin DB9 Volante, Chevrolet ZR1 40th anniversary edition, Ferrari 512 TR, and many more.