Michael Jordan is definitely the greatest basketball player of all time. The impact he made on the NBA has not diminished throughout the past years. In addition to being a phenomenal basketball player, Jordan is an established businessman.
How many businesses does Michael Jordan own? Michael Jordan is the figure head of a sprawling business empire. Jordan has an estimated net worth of $1.6 billion, he is the majority owner of the Charlotte Hornets and in addition, has lucrative partnership deals with various companies and brands.
We take an in depth look at what businesses Michael Jordan owns and how he became a billionaire.
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How much did Jordan make as an NBA player?
Despite being widely considered the Basketball GOAT, Jordan wasn’t paid nearly as much for being a player as you would think. Totalling only $93.7 Million across his 15 year NBA career. Compare that to the salaries NBA players are earning at the moment, Davis Bertans (now of the Dallas Mavericks) has a 5 year $80million contract. Yes that’s right, Davis Bertans is going to earn in one contract almost as much as the GOAT. Jordan was NBA’s highest-paid player only two seasons during his 15-year playing career, his last 2 with the Bulls where he earned, $63 million. That’s a whopping 68% of his total career earnings. One of the many reasons for this disparity is Jordan himself. When he entered the league in 1984, it wasn’t the world dominating, high flying, cash rich league it is now. Jordan, in no small part built the modern NBA. In particular he changed the game in terms of player endorsements. This is the real source of Jordans immense wealth.
Does Michael Jordan Own Nike?
No, Michael Jordan does not own Nike. They do however owe a massive chunk of their success to him. When Jordan famously signed his first sneaker endorsement deal with them, they, like Jordan, were up and commers in the elite peformance sportswear game. Their relationship with Jordan changed all that. The first contract Jordan signed with Nike, when just an unproven rookie, was worth just $500,000 per year – importantly – plus royalties. In 2021 Nike would pay Jordan more than $100 million. This figure has been consistently building since the day the contract was signed. Quite simply, the relationship betwen Nike and His Airness, put them both on the map, from a marketing point of view. We have written extensively about the intro of the iconic Jordan 1’s if you want to check it out later. When it comes to Jordan and his business empire, the foundations all start with his relationship with Nike and the iconic status his subsidiary Jordan Brand has attained over the years. Nike’s Jordan Brand is estomated to turnover $3.6 billion a year and MJ has a slice of everything. When you have that kind of wealth it’s easy to grow it. Not least with the brand expanding away from Basketball itself into other major sports.
Jordan Made Money From Lionel Messi’s Transfer
Jordan has a variety of sources of income, including those related to other sports. The transfer of Argentine striker Lionel Messi from Barcelona to Paris Saint-Germain can be safely called one of the main sporting events of summer 2021. The transfer brought the Parisian club not only millions of new fans around the world but also a demand for their already huge fanbase to purchase a new jersey with the little stars name on the back. The Parisian club is prjected to earn hundreds of millions of dollars by selling merchandise with the Argentinians name attached. The equally famous Michael Jordan will not stand aside – the legendary basketball player receives a percentage of each sale due to their kit manufacturing deal.
The PSG jersey is produced by Nike, but it bears the logo of Michael Jordan’s Air Jordan brand. Jordan Brand first appeared on the Parisian team uniform back in 2018. At first, the emblem was placed only on the away and third kits, but since this season it has appeared on the home jersey as well. According to the French press, Jordan personally receives 5% of the sale of every PSG shirt issued under his brand name.
As of August 28, the legendary Jordan, who is entitled to 5% of the sale of Messi’s shirts, has already received $7.5 million. The amount is unofficial and may not be the most accurate, but the fact remains that Jordan receives millions on Messi’s transfer. And it will continue to do so.
Michael Jordan made $4 million or less in 13 of his 15 NBA seasons. In the last two years alone, at the Chicago Bulls, he received more than $30 million. The amount that Jordan personally and his brand will earn from Messi’s transfer will only grow. According to rumors, by the end of the 2021/2022 season, PSG plans to sell 2.5 million T-shirts with the name of Messi.
The cost of one jersey from the official manufacturer is $188, so tens of millions of dollars should be credited to the accounts of Jordan only through Messi’s transfer. Michael remains the richest retired athlete in the world. Despite the fact that compared to last year, his fortune, as mentioned above, decreased by about a quarter.
Jordan always made money from affiliations and endorsements
Despite his relatively low salary levels for most of his playing career, remember his career earnings were “just” $90 million, he has earned $1.8 billion (pre-tax) from such corporate partners as Nike, Hanes and Gatorade. He doesn’t just endorse or invest in these brands Jordan has been a spokesman for Hanes and their clothing empire for over 30 years.
In 2020 at the dawn of the sports betting age in the States Jordan signed up with betting firm Draft-Kings as a corporate advisor, and of course, invested heavily. It has since been announced that he took an equity stake in company. There was a huge rise in the stock market price, with it jumping by more than 10% just at the announcement Jordan was fully on board. When you can invest and THEN announce you are involved and it has THAT effect, it’s almost insider trading!
He’s also a NASCAR team co-owner since 2020. Jordan famously joined with Denny Hamlin to become a NASCAR Cup Series team co-owner, hiring Bubba Wallace to drive. The team 23XI racing has caused waves in a predominatly white sport.
In 2021, MJ was again branching out when he formed part of a $305 million investment in Dapper Labs. The power driving virtual trading-card platform NBA Top Shot. Results on this TBD – but it’s looking good!
These massive deals aren’t even isn’t even the biggest way Jordan has inflated his fortune. For that we have to go back into the world of Basketball again.
Jordan is the first former player NBA Franchise Majority Owner
In a move taking him back to both his home state and Basketball. Jordan bought NBA Franchise the Charlotte Hornets in 2010 for (just) $175 million. In 2014 when the NBA franchise value rose, Jordan officialy became a Billionaire for the first time. The hornets despite their lack of on court success are estimted to be worth $1.5 billion. This owes to the financial strength of the NBA itself and the global product it has created. Jordan currently owns 97% of the Franchise after he agreed to sell a minority stake in 2019.
Jordan has gor to see this as a massive win, despite the teams lack of on court success.
Investing in Startups
Michael Jordan is known to invest in tech startups such as the Silicon Valley Gigster project. This company acts as an intermediary between managers, designers, freelance software developers and firms. Jordan also owns shares in the Miami Marlins baseball club. The income is generated by the AMA Pro Road Racing motorcycle team, the Nissan Auto Show in Durham, and the Michael Jordan’s Steakhouse restaurant chain.
Jordan Loves Luxurious Life
At the same time, Michael knows a lot about a luxurious life. He was recently spotted with his family and friends in Split, Croatia. The owner of the Hornets is vacationing on a yacht that costs nearly $1.2 million a week to rent. Then a whole crowd of people gathered in the port, wanting at least one eye to look at the legendary player.
Jordan recently visited Dubrovnik. Michael showed an atypical behaviour for a star. Jordan walked around the city, not hiding from the public, who had the opportunity to photograph him and then went to a popular restaurant, where he also took pictures with the staff of the institution.
Michael Pays a Lot of Attention to Charity
Michael Jordan does not forget about charity. He recently won several lawsuits against companies using his name without permission. The athlete donated the money received to various funds to help those in need. For example, in 2018, Jordan donated $2 million to victims of the Florida hurricane. After 12 months, the billionaire promised to transfer $7 million to two major medical centres.
In 2020 Jordan donated over $2 million of his royalities from “The Last Dance” to charities feeding the poor in South Carolina, North Carolina and Chicago. In the same year Jordan Brand committed $100 million over 10 years to organizations fighting for ‘racial quality, social justice, and greater access to education.’ In response to the killing of George Floyd, and ongoing racially motivated police brutality.
Is Jordan a Billionaire?
Yes at the end of 2021 Jordan was valued at $1.6billion, down from $2.1billion the year before. Rated as being one of the 2,000 richest people in the world by Forbes. He’s also the richest former professional athlete in the world with a net worth of $1.6 billion and was the first athelete to become a billionaire. In 2021 Jordan’s yearly earnings were estimated at $145 million.