Michael Jordan Net Worth

Introduction: 

Michael Jordan Net Worth, How did the retired American basketball player and entrepreneur acquire his wealth? Check this article to find out more about Michael Jordan Net Worth and his career.

Michael Jordan Early Life

He is a retired American basketball player and entrepreneur. Michael Jordan attended high school in Wilmington, where he highlighted his athletic career by playing basketball, baseball, and football. 

Michael went on for the varsity basketball team during his sophomore year, but at 5’11’ (1.80 m), he was deemed too short to play at that level. 

He got married to Cuban-American model Yvette Prieto since April 2013. She gave birth to their identical twin daughters in February 2014. He has three other children from his previous marriage.

Michael Jordan Career

Michael Jeffrey Jordan was born on the 17th of February, 1963 in Brooklyn, New York. During his impressive career and even through to the present, Michael Jordan has been a spokesman for many corporate brands including Nike, Gatorade, Wheaties, McDonald’s, Coca-Cola, Chevrolet, Ball Park Franks, Rayovac, Hanes, and MCI.

He led the Chicago Bulls to 6 NBA championship titles. Michael is a five-time league MVP, he holds the record for highest career scoring average of all time and was inducted into the Hall of Fame on September 11th 2009. 

Michael Jordan Net Worth

As of today, Michael Jordan Net Worth is $1.9 Billion. Micheal Jordan Net Worth is earned from his career as a basketball player and entrepreneur. However, he has not played basketball professionally in over a decade, he still earns an estimated $80-100 million per year from endorsements and various other business ventures. 

Michael earned $60 million every year from Nike/Jordan brand royalties alone. While playing days, Jordan set sport records by being the first athlete to earn over $30 million per year in salary which happened from 1996 – 1998 while he was playing for the Chicago Bulls. 

In that season he earned $33.14 million which is the same as earning $53 million per year in today’s inflation-adjusted dollars. Michael is the majority owner of the Charlotte Hornets NBA team. 

Michael earned a total of $97.3 million in salary during his time as an NBA player. He earns more in a single 12 month period from endorsements than he earned in his entire NBA career from salary.

Before him, the largest celebrity shoe endorsement contract in the world was James Worthy’s $150,000 annual deal with New Balance. Jordan shattered all endorsement records when Nike agreed to pay him $500,000 per year for five years in 1984. 

He also received Nike stock options which brought his total compensation to $7 million over five years. However, Michael had never worn a pair of Nike shoes in his life and had been hoping to sign with Adidas, but Nike’s offer was too rich to match but when he debuted the shoes, they violated the NBA’s uniformity restrictions. 

The ‘Nike’ brand paid all the league’s fines and used the controversy to build excitement around the brand as the Air Jordan shoe first appeared in stores in March 1985 and had sold over a million pairs after two months. 

Air Jordan generated $100 million in revenues for Nike within the first year. Today, 58% of all basketball shoe sales are Air Jordans and the brand generates over $2.5 billion in annual sales for Nike.

Michael’s annual Nike royalty check typically comes in around $60 million. In a number of years his royalty check has topped $100 – $120 million.

Summary: 

Michael Jeffrey Jordan is a retired basketball player and entrepreneur who led the Chicago Bulls to 6 NBA championship titles and he is a five-time league MVP. He holds the record for highest career scoring average of all time.

As of 2020, Michael Jordan’s net worth is $1.9 Billion.