Michael Jordan Net worth 2023

Widely considered as the greatest of all time, Michael Jordan was the pioneer that led NBA basketball to a global stage. His relentless pursuit of greatness inspired a generation of players, destroyed the hopes of anybody that played against him and won him 6 rings. The way he carried himself and the way he was perceived on and off-court put him in such rare air that it is still considered sacred.

How much is Michael Jordan's net worth in 2023?

As of 2023, according to Forbes, Michael Jordan's net worth is estimated to be $3 billion. Michael Jordan has earned his money over the years not only through his massive Jordan Brand salary but also some massive endorsement deals from almost every major company in the United States and several profitable investment ventures.

Apart from dominating in the NBA, he is also a shrewd investor. Since his retirement, Jordan has invested in and served as a special advisor to the sports betting startup DraftKings, as well as becoming a co-owner of a NASCAR team in 2002. Through his investments and proper money management, he has become one of the wealthiest athletes on the planet and he has built most of his $3 billion portfolio through this channel.

Jordan concluded the sale of Hornets to Gabe Plotkin and Rick Schnall in 2023, and his 13-year tenure as the Hornets' primary owner, though he still held a minority stake. The official closing of the transaction took place in August 2023, costing around $3 billion, more than ten times what Jordan had first invested in the team.

However a few of the sources report his net worth estimated to be $3.5 billion. He owns a major portion of his personal brand under Nike, the Jordan Brand. He has probably the most popular sneaker line in the world, which currently has young stars like Jayson Tatum and Zion Williamson under its umbrella.

After Star Footballer Messi signed for the French Club Paris Saint-German in 2021, Michael Jordan apparently earned $6 million dollars due to the shirt sales. One important thing to note is that Paris Saint-German football kits are made by the Jordan Brand.

Michael Jordan's Endorsement Earnings

Michael Jordan earned a majority of his current wealth from endorsements. In over four decades, he’s earned $1.8 billion (pre-tax) off the court from brands like Nike, Coca-Cola, McDonald’s, Wheaties, Chevrolet, etc, and is still involved with brands such as Nike, Hanes, Gatorade, and Upper Deck.

Nike

Nike has always been Jordan’s biggest source of income. 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 (included within the tally above) was $130 million by Forbes’ count, fourfold as much as that of LeBron James, who has the NBA’s second-biggest shoe deal.

According to Front Office Sports, as part of his license agreement with Nike, Michael Jordan receives around 5% of Jordan Brand sales. Thus, Jordan will receive $256 million from the contract in 2022 alone. However, in 2020, it was reported that he earned more than $1 billion. According to Bloomberg, corporate documents reveal that Jordan Brand earned $5.1 billion in revenue last year, or about 11% of Nike's overall sales.

Nike released the Air Jordan XXXIV basketball shoe in September, and current NBA players Zion Williamson, Jayson Tatum, and Rui Hachimura wear it on the court. Nike’s share of the U.S. basketball performance shoe market—which includes the Jordan Brand was 86% in 2019, according to market research firm NPD. It has a 96% share of the broader lifestyle basketball category. (Source: Forbes)

Charlotte Hornets

In 2010, Jordan acquired a controlling stake in the team as part of a $175 million purchase that was financed in large part by debt. Eventually, he increased his stake to 90%. He made his investment at the right time and just in time for a surge in team values brought on by three significant events:

• The replacement collective bargaining agreement, which reduced players' revenue share from 57% to 50% in 2011.
• The Ballmer bump, which followed former Microsoft CEO Steve Ballmer's $2 billion purchase of the Los Angeles Clippers in 2014, which was more than three times the previous NBA record price.
• The replacement NBA TV effect on ESPN and TNT, which tripled the value of the previous record NBA price.

In the 2019 NBA summer, Jordan retained the bulk of the Hornets and the chairmanship while selling a small portion of the franchise to Gabe Plotkin and Daniel Sundheim. In September 2020, Jordan made a profit of $1.5 billion by selling 20% of the team to a New York-based hedge firm. (Source: Forbes)

Jordan's 13-year reign as the Hornets' principal owner came to an end in 2023 when he finalized the sale of his franchise to Gabe Plotkin and Rick Schnall, but he retained a minority ownership. In August 2023, the deal was formally closed for about $3 billion, more than ten times the $275 million Jordan had invested in the team initially.

Also read: Michael Jordan’s wife, Yvette Prieto?

Michael Jordan's Investments

Michael Jordan has been a shrewd investor and he’s individually participated in funding rounds for Sportradar, a Switzerland-based sports data provider; headphone brand Muzik; 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, recently valued at $320 million.

Jordan joined three other fellow NBA owners—the LA Lakers’ Jeanie Buss, the Milwaukee Bucks’ Wes Edens and the Boston Celtics’ Wyc Grousbeck with whom he launched a super-premium tequila brand, Cincoro, last year. The most expensive bottle within the line, Extra Añejeo, retails for $1,600.(Source: Forbes)

Michael Jordan's Charity Work

Michael Jordan has been a major contributor to many charitable organizations. Proceeds from "The last dance" Netflix's recent documentary featuring Jordan’s last championship run with the Bulls will all go to charity, including the Friends of the Children nonprofit in support of the group’s national expansion and add Charlotte and Chicago, also as other as-yet identified beneficiaries.

Jordan graciously joined most other NBA owners with a pledge to pay arena workers for missed games during the coronavirus stoppage, and the club has donated to relief efforts within the Carolinas. In recent years, he wrote seven-figure checks to help out with hurricane relief efforts in both the Bahamas and therefore the Carolinas, and he has been involved in the Make-A-Wish foundation for 3 decades as a donor and grantor of hundreds of wishes.

Michael Jordan's other sources of Income

Michael Jordan knows the value of having multiple sources of income. Apart from his major investments in the Jordan Brand, MJ joined the investor group that bought MLB’s Miami Marlins for $1.2 billion in 2017. Derek Jeter, a longtime Jordan pal, is the club’s CEO and owns 4% of the team while Jordan owns 1%.

Jordan also owns a car dealership and maybe a partner in Cornerstone Restaurant Group, which runs five Jordan-branded restaurants. (Source: Forbes)

Michael Jordan's Houses

Michael Jordan owns 5 houses across America. He owns two homes in North Carolina where the NBA team he owns, the Charlotte Hornets, is based, and one in Jupiter, Florida. The other two are currently purchasable in Illinois and Utah.

In Illinois, Jordan features a property within the Highland Park suburb of Chicago. The massive housing space is about 32,000 square feet, but with outdoor spaces that include a pool and a court, the whole property covers a whopping 56,000 square feet. The house is currently selling for $14.8 million. It has 9 bedrooms and 19 bathrooms. The house has been on the market since 2012.

Jordan is also an owner of a house in Jupiter, Florida, on a golf course for $4.8 million in 2013, and spent $7.6 million renovating it. The Chicago Bulls legend used to spend a lot of time there, as reported by Yahoo Sports from May 2020.

Michale Jordan has a lakefront home in Cornelius, North Carolina that he bought for $2.8 million in 2013. The house has six bedrooms and is on the Peninsula golf course, a luxury country club. It's 22 miles from where the Hornets play.

Jordan has another North Carolina property in Charlotte. The whole 7th floor of the luxurious Trust Condos at about 7,000 square-feet.

Also check out: Michael Jordan Rings