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How did NBA legend Michael Jordan become the richest sports icon of all time, with a net worth of $2 billion? Jordan has earned his money over the years not only through his salary, but also through impressive endorsements and targeted investments.
Jordan invested in and served as a special advisor to sports betting startup DraftKings, as well as becoming a co-owner of a NASCAR team in 2002.
Jordan ended the sale of the Hornets to Gabe Plotkin and Rick Schnall in 2023 and his 13-year tenure as the Hornets' primary owner, although he still held a minority stake.
The transaction officially closed in August 2023, costing approximately $3 billion.
One of the most profitable sources for Jordan is his personal brand in collaboration with Nike, Air Jordan and Jordan Nike brand. As part of his licensing deal with Nike, Michael Jordan receives approximately 5% of Jordan Brand sales.
An example: PSG's soccer uniforms are made by the Jordan brand. After Lionel Messi signed for the French club in 2021, Michael Jordan earned $6 million from shirt sales. Michael Jordan earned $1.8 billion off the court from brands like Nike, Coca-Cola, McDonald's, Wheaties, Chevrolet, etc., and is still involved in brands like Nike, Hanes, Gatorade, and Upper Ponte.
How did Michael Jordan become the richest athlete ever
Nike created a signature shoe for Jordan, called the Air Jordan, in 1984. One of Jordan's most famous commercials for the shoe involved Spike Lee as Mars Blackmon.
Subsequently, Nike separated the Jordan line into its own division called Jordan Brand.
The company features a list of athletes and celebrities as endorsers. The brand has also sponsored college sports programs such as those of North Carolina, UCLA, California, Oklahoma, Florida, Georgetown and Marquette.
Jordan is co-owner of an automotive group named after him.
The company has a Nissan dealership in Durham, North Carolina, acquired in 1990, and previously had a Lincoln-Mercury dealership from 1995 until it closed in June 2009. The company also owned a Nissan franchise in Glen Burnie, North Carolina.
Maryland. The restaurant industry is another business interest of Jordan. The restaurants he owns include, among others, a steakhouse in Grand Central Terminal in New York City. That restaurant closed in 2018.
Jordan is the majority investor in a golf course, Grove XXIII, under construction in Hobe Sound, Florida. n September 2020, Jordan became an investor and advisor for DraftKings.