Michael Jordan is estimated to have a net worth of $1.2 billion. The basketball legend was a peerless sportsman in his heydays and anyone who watched him play was lucky to have seen greatness on the court.
He enjoyed an illustrious career before he retired in 2003. Six years later in September 2009, he was inducted into the Hall of Fame. Having been an MVP and with an array of titles and personal achievements there was bound to be an interest in him. Some of his achievements include 6 NBA championships, 2 gold medals and 5 MVP awards. He has several affectionate nicknames such as His Royal Airness, and MJ like the late music legend Michael Jackson.
Michael Jordan Net Worth: Wealth before retirement
Jordan began his basketball career with a $6 million contract deal which eventually increased to $23 million after 6 years. During his comeback in 1997, he re-signed a $30 million deal with Chicago Bulls and a further $33 million deal in 1998. In 2001, he played for the Wizards after penning a two year contract worth $2 million.
MJ starred in the 1996 hit movie, “Space Jam” which made history as the highest grossing basketball movie, making $230 million.
Michael Jordan Net worth: Wealth after retirement
MJ had lucrative endorsement deals with giant companies including Nike, Coca Cola, Chevrolet, Hanes, McDonald’s and Gatorade which made him much more valuable in and out of the sport. And despite retiring over a decade ago, these deals keep bringing in money.
After his long successful basketball career came to an end, he ventured into entrepreneurship and have been raking in millions ever since. In 2014, he made $100 million from his Nike Air Jordan branded sneakers, $6 million more than what he made during his remarkable career.
Mike owns 89.5 % of the Charlotte Bobcats which he bought from BET founder Robert Johnson for $175 million dollars. The team is now valued at $750 million.
Jordan is also involved in the real estate business and he’s making huge ripples enough to rank him with the likes of Donald Trump. He has penned a book titled “Michael Jordan: The Life”, published in May last year whose figures are still up in the air. On top of that he has several biographies which have sold well in their capacities as many are interested in the legend’s life and how he shot to fame.
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Michael Jordan according to credible sources is the world’s second richest retired athlete after Roger Penske who is worth $1.5 billion. His net worth is in tune with the likes of WWE’s Vince McMahon and F1 legend Micheal Schumacher.
One of the amazing things about his wealth is that it remains unaffected by inflation adjustments. All these opines that the status of Michael never diminished even after he retired, he still remains an influential figure in the American society outside of sports.
Jordan has had his fair share of woes. In 2002, following his divorce from wife Jaunita Jordan, he was forced to pay her $168 million as a divorce settlement, making it one of the biggest divorce settlements in history.
However, Michael Jordan continues to be a brand and a valuable one still who holds a candle with the best in his prime. Having shattered all sorts of records in sports without much fuss, he is making frontiers in business and has already leapt established names to become an icon.
His $1 billion wealth has afforded him a $50 million dollar jet which he uses to shuttle around the world.
Jordan is set to make even more money in future thanks to his branded Nike merchandise whose revenue has bee enjoying a rapid exponential growth. In 2016 the brand grossed $2.8 billion in revenue up 18% from the previous year. Nike Jordan accounts for about 50% of the basketball sneaker market. From Nike alone, Jordan earns an average of $100 million annually. The brand is looking to sell about $4.5 billion worth of merchandise by 2020. It must be good to be MJ.