How did Michael Jordan make his $3 billion fortune? Lesser known details about His Airness' empire
Michael Jordan's hard work on the NBA court has paid rich dividends. As for his billionaire status, the Chicago Bulls legend did not make the moolah just from his salaries as a player, even though he was one of the highest-paid athletes of his time. Jordan was the first athlete to make over an estimated $30 million in his salary, and following his second threepeat, and subsequent retirement, he built an empire that is now valued at $3 billion.
The six-time NBA champion has also been one of the highest-paid celebrity endorsers and according to Celebrity Net Worth, he has earned an estimated $1.4 billion from his endorsements alone. The site added that Jordan makes roughly $100 million per year from his endorsements and other business ventures.
His billionaire status came with his ownership stake in the Charlotte Hornets. After buying a stake in the team in 2010 for $175 million, Jordan became a billionaire in 2014 when it was reported that he had increased his stake in the franchise, then known as the Charlotte Bobcats. In 2019, he sold a minor portion of Hornets, at which point the team was valued at $1.5 billion.
Earlier this year, he sold the team to a group led by Gabe Plotkin and Rick Schnall. According to ESPN, Charlotte's sale is valued at a whopping $3 billion.
A look at how Michael Jordan built his massive $3 billion empire
Michael Jordan made more than double his NBA career earnings in 2022 alone, primarily due to his long-standing licensing deal with sports giant Nike. His Jordan brand made a whopping $5.1 billion in fiscal 2022, with the Bulls icon receiving a reported 5% as part of his deal with the brand.
Based on that figure alone, Forbes estimates that Jordan may have earned roughly $256.1 million in the last year. It helps his case that the Jordan brand continues to do successfully in the shoe market. In 2020, it made $3.6 billion and saw a sharp rise to $4.8 billion in 2021.
Safe to say, what Michael Jordan earned after his career, played a role in his billionaire status.
In all, he raked in $94 million before taxes during his seasons with the Bulls and two years with the Washington Wizards — a drop compared to how his sponsors made him richer over the course of the next decade. Now, he is the only billionaire player in the NBA alongside LeBron James.