In 2024, Forbes reports MJ’s net worth as $3.2 billion.
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The outlet highlights that during his NBA career, MJ accrued $90 million in salary. His endorsements, notably with Nike and Gatorade, have garnered over $1.8 billion in pre-tax earnings.
Following retirement, Jordan expanded his business portfolio, serving as an investor and special advisor to sports-betting company DraftKings, and co-owning a NASCAR team since 2002.
Additionally, he owns the Charlotte Hornets and sold a minority stake in 2019, with reports indicating the team’s value at $1.5 billion.
Michael Jordan’s net worth confirms his status as one of the NBA’s all-time greats, alongside one of the most remarkable endorsement deals in history—the iconic Air Jordans by Nike, elevating him to crossover stardom.
This deal also inspired the 2023 film “Air,” delving into the origins of the legendary sneakers and the groundbreaking agreement Jordan secured for them.
MJ’s Endorsements
Michael Jordan’s off-court earnings from endorsements, sponsorships, and other income streams surpass his on-court earnings.
His venture into business began with his groundbreaking deal with Nike in 1984, instantly enhancing the company’s appeal and initiating a prosperous, long-term partnership.
At the pinnacle of his fame, Jordan ventured into film in 1996, co-starring with the influential Bugs Bunny in the cultural phenomenon “Space Jam,” which grossed $250 million worldwide.
He further solidified his personal brand by collaborating with McDonald’s, featuring in numerous highly popular commercials throughout his playing career.
According to Forbes, Jordan amassed approximately $2.4 billion from partnerships with renowned global brands such as Hanes, McDonald’s, Gatorade, Wheaties, Coca-Cola, and Nike.
His upbringing in North Carolina, a hub for NASCAR, also contributed to his financial success. Jordan established his own racing team, witnessing one of his drivers, Tyler Reddick, clinch victory at the renowned Talladega Speedway in a NASCAR Cup Series race.
MJ’s Business Ventures
In addition to earning money from Nike through apparel sales and his own “Jordan Brand” line, Michael Jordan’s economic influence extends into the culinary industry as well.
Following his third consecutive NBA championship win with the Chicago Bulls in 1993, Jordan retired briefly before returning to secure three more consecutive titles from 1996 to 1998.
Capitalizing on his success, he launched Michael Jordan’s Steak House in Chicago, a city renowned for its competitive upscale dining scene, and expanded the concept to other states.
Furthering his ventures in the dining industry, Jordan also invested in establishments like Urbanbelly and the MJ23 Sports Bar & Grill, showcasing his ambition to conquer various facets of American culture.
Jordan is also a co-owner of Cincoro, a popular tequila brand that has garnered over 20 awards in spirits competitions, according to CNBC. Notably, the product comes with a hefty price tag, with bottles retailing from $300 to upwards of $4,000.
MJ’s Biggest Assets
Forbes does not disclose Jordan’s assets but highlights a significant surge in his wealth earlier this year following the sale of the Charlotte Hornets. The publication estimated his wealth at $1.7 billion in 2022.
While Jordan gained prominence during his 15 seasons in the NBA, Forbes emphasizes that his fortune primarily derived from his ventures off the court.
For instance, although Jordan earned $94 million during his NBA tenure, his branding deals with McDonald’s, Gatorade, and Nike have garnered an estimated $2.4 billion in pre-tax earnings—with Nike representing a substantial portion of his wealth.
Forbes notes that his most recent annual royalty payment from Nike amounted to $260 million.
However, his most significant financial gain came from his investment in the Charlotte Hornets, with the sale price reflecting a 17-fold increase since Jordan assumed majority ownership 13 years ago.
MJ’s Donations
In 2020, Jordan contributed US$2 million to Feeding America’s food banks in Chicago, North Carolina, and South Carolina. The donation stemmed from his earnings from the docuseries “The Last Dance.”
According to NBC, he made the donation amidst the Covid-19 pandemic, emphasizing the importance of taking a moment to express gratitude.
Also in 2020, the basketball player, along with Nike under the Jordan Brand, committed to donating US$100 million over a decade to various organizations advocating for racial equality, social justice, and access to education.
This decision followed the death of George Floyd, which catalyzed numerous Black Lives Matter protests nationwide.
Jordan has a longstanding commitment to philanthropy and is dedicated to addressing social issues like racial equality. A description on Nike.com asserts, “Jordan Brand is of and by the Black community.
Bigger than one man, whose will and work redefined the meaning of greatness. Bigger than the basketball court, where generations of dreams have taken flight. Bigger than any struggle, any obstacle, any fight.
The fight for equal opportunity and equal justice is ours.”
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