Michael Jordan net worth 2023- Taking a look at His Airness’ endorsements, salary and other deals amidst potential Hornets takeover
Chicago Bulls legend Michael Jordan is reportedly looking to sell his majority stake in the Charlotte Hornets after 13 years as owner. The Hornets are valued at a whopping $1.7 billion, according to Forbes. This means that Jordan stands to receive another major payday.
As of 2023, Forbes estimates that Jordan’s net worth is around $2 billion. However, only a small fraction of that has come from his career earnings.
Per Spotrac, Michael Jordan earned just $93.6 million in salary over his legendary 15-year NBA career. Most of his additional earnings have instead come from endorsements and business investments. Forbes estimates that Jordan has made $1.8 billion (pre-tax) from partnerships with companies such as Nike, Hanes and Gatorade.
Jordan’s signature Jordan Brand deal with Nike has been the most lucrative. The Bulls legend reportedly makes around $100 million a year from Nike royalties, per Business Insider.
As for his business investments, Jordan invested in the sports betting company DraftKings in 2020. In the same year, he became the co-owner of the NASCAR team “23XI Racing."
Like many celebrities, Jordan also owns numerous luxury real estate properties. All of this, of course, is in addition to his ownership of the Charlotte Hornets.
As for his charity work, Jordan is known to give back a massive amount to those in need. This includes his recent record-breaking $10 million donation to the Make-A-Wish Foundation on his 60th birthday.
In addition, Jordan donated $2 million in proceeds from his docuseries “The Last Dance” to food banks in Chicago and the Carolinas in 2020. In the same year, Jordan also pledged to donate $100 million over 10 years to the Black community to combat social injustice.
How much does Michael Jordan stand to profit from his sale of the Hornets?
Michael Jordan hasn’t experienced much success as the owner of the Charlotte Hornets. Since Jordan purchased the franchise back in 2010, the Hornets have made the playoffs just twice, winning zero playoff series (3-8 total playoff record). However, Jordan still makes an enormous profit from the investment.
Jordan paid $275 million for his majority stake in the Hornets in 2010. He sold 20% of that stake to businessmen Gabe Plotkin and Daniel Sundheim in 2020. Jordan reportedly made over $300 million from that sale, while retaining 80% ownership of the franchise.
So Jordan could be looking at as much as an additional $1.36 billion in profit if he sells the remainder of his stake.
Also read: "Plus about $600,000 more"- Bulls legend Michael Jordan once made more than a million dollars in a single night after losing half of it before