The Majority of Michael Jordan’s Net Worth Came Decades After His Legendary Basketball Career
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The ultimate GOAT. He’s hailed as the greatest basketball player to ever live, has multiple booming business ventures and still has the time to be a great philanthropist. It’s no wonder that Michael Jordan’s net worth is one of the greatest in sports history.
Michael Jordan started out playing in Wilmington, North Carolina in high school and went to the University of North Carolina for college. He left college early to be picked out in the 1984 draft. The Chicago Bulls ultimately chose the young MJ and he set to be the star player. He signed a seven-year contract, $6 million deal, averaging to around $850,000 per season. His salary grew more and more and after his fifth season, Michael and Chicago agreed on an eight-year, $25 million contract extension. However, his overall earnings might surprise you.
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For everything we know about Michael Jordan’s career and earnings—from his work as a philanthropist to his iconic Air Jordans—just keep reading.
What is Michael Jordan’s net worth?
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Jordan is reportedly worth $2 billion as of April 2023, according to Forbes. This makes him the richest former professional athlete in the world.
As well as brand deals, Michael Jordan also owns the Charlotte Hornets which owes him a majority of his net worth since the team is now valued at $1.7 billion, and is what made him into a billionaire in 2014. He also teamed up with driver Denny Hamlin to become a NASCAR Cup Series team co-owner. He owns a series of restaurants in Jupiter, Florida, and in Chicago, Illinois. He also has a hand in alcohol in his tequila brand and owns a Nissan car dealership in North Carolina.
How much did he make from his basketball career?
As per Basketball Reference, Michael Jordan earned $93.2 million as a player for the Bulls and Wizards during his NBA run. Of that salary over the course of five MVP awards and six championships, $63 million came from his final two seasons with the Bulls. After adjusting each year for inflation, he earned $161 million in salary.
How much is Michael Jordan making off his Nike deal?
How much is Michael Jordan making off his Nike deal? Michael only receives 5% from the brand. In 2020, it was reported via Hypebeast that Jordan’s contract earned him $1.3 billion USD from Nike, the most any athlete has made from Nike.
Before Michael Jordan signed the deal with Nike, he wanted to sign over with Adidas but Nike was much more appealing. According to The New York Times, “The final Nike agreement pays Jordan roughly $2.5 million for five years, plus a royalty on items sold and ”a long-term security package.” It also includes such niceties as a scholarship fund in Jordan’s name and a 12-day annual, expense-paid working vacation to promote Nike around the world. An important part of the deal was the clause requiring Nike to spend at least a million dollars in total promoting the products – to make sure the name ”Michael Jordan” was widely publicized”
In 1997, Nike made the Jordan Brand. The revenue reached over $5 billion in sales in 2022, of which Michael Jordan made $150 million.
In 2021, Sotheby’s auction house sold the earliest known Jordan/Nike shoes for $1.47m. In April 2023, on a pair of signed Air Jordan XIII “The Last Dance” trainers, worn by Jordan during the 1998 NBA finals. Those have an estimate of $2m to $4m, making them highly likely to be the most expensive ever auctioned.
How much is Michael Jordan making off of The Last Dance?
How much did Michael Jordan earn from The Last Dance? Technically, nothing. While the proceeds of the show are projected at upwards of $4 million, Jordan reportedly plans to donate all of his earnings from The Last Dance to charity.
Loyal basketball fans and NBA novices alike are already hooked to Netflix and ESPN’s The Last Dance, a documentary series all about the legendary career of Michael Jordan. The 10-part documentary series features exclusive interviews with over 100 people close to Jordan, who is now 57, to uncover the reality behind his last championship season from 1997 to 1998. The result is a never-before-seen picture of Michael Jordan the legend, businessman, and friend.
In an unexpected twist for many fans, even the late basketball legend Kobe Bryant made an appearance in one of the episodes to pay tribute to his idol. Given his tragic death in Jan. 2020, the interview posed a particularly emotional moment for viewers. “I didn’t realize they had the relationship that they had until we interviewed Kobe in July a few weeks after the birth of his daughter [Capri]. And he told me that from the time he was a youngster in the league, he did seek out Michael’s advice,” the documentary’s director, Jason Hehir, told The Score.
Hehir added, “And then for Michael to make the speech at Kobe’s memorial service and from his perspective call him his little brother, it was just so poignant.”
What charities does Michael Jordan donate to?
What charities does Michael Jordan donate to? Michael Jordan donates a lot of his wealth to charities. In February 2023, the basketball player donated $10 million to the Make a Wish foundation—the largest contribution in the history of the foundation. In a statement, Jordan said his donation to the foundation, dedicated to granting “wishes” to children with life-threatening illnesses, was to honor 60th birthday.
In the wake of the George Floyd protests in June 2020, the basketball player pledged to donate $100 million over 10 years to organizations fighting for ‘racial quality, social justice, and greater access to education.’
In 2018, he donated $2 million to relief efforts in the wake of Hurricane Florence in the form of $1 million each to the American Red Cross and to the Foundation for the Carolinas’ Hurricane Florence Response Fund, and provided care packages and met with people affected by the hurricane in his hometown of Wilmington, NC.
Driven From Within by Michael Jordan
In Driven from Within, Michael makes it clear that the basis for his phenomenal success came from the inside out, thanks in part to those who guided him along the way. His skill, work ethic, philosophy, personal style, competitiveness and presence have flowed from the basketball court into every facet of his life.
Nearly three years removed from his last turn as an athlete, Michael’s twentieth Air Jordan shoe has helped push Nike’s Brand Jordan division to almost $500 million in sales.
‘Driven From Within’ by Michael Jordan $32.99
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