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➤ Michael Jordan Net Worth
Legendary basketball player Michael Jordan has become the richest NBA player in history, amassing an estimated net worth of $3.5 billion after selling his majority stake in the Charlotte Hornets, according to Bloomberg.
In June 2023, Jordan reached an agreement to sell his majority stake in the Hornets in a deal valued at around $3 billion, solidifying his position as the wealthiest NBA player to date.
As part of this deal, Jordan retains a minority stake in the team, although it marks a significant change as there are now no Black majority owners in the NBA, according to Axios.
- Michael Jordan, the basketball legend, boasts a net worth of $3.5 billion as of August 2023, as reported by Bloomberg.
- Jordan’s majority stake in the Charlotte Hornets was sold in a lucrative deal estimated at $3 billion, as per ESPN.
- His partnerships with major brands like Nike, Gatorade, and Hanes have contributed substantially to his wealth, with earnings reaching $1.8 billion, according to Forbes.
➤ How Michael Jordan Made His Billions
Throughout his fifteen seasons with the NBA, Jordan clinched six championships with the Chicago Bulls and was named Finals MVP each time.
He also played for the Washington Wizards in his final two years with the NBA before retiring in 2003, with total career earnings from the NBA amounting to $90 million, as per Forbes.
A major contributor to Jordan’s net worth has been his long-standing partnership with Nike, particularly the iconic Jordan Brand. This partnership has earned him over $1 billion.
👉 Explore More: Nike Reports Q1 Earnings Results (Stock Jumps 9%)
In 2022, the Jordan Brand generated $5.1 billion, and Jordan receives approximately 5% of this total, according to Front Office Sports. Since his initial deal with Nike in 1984, Jordan has accumulated an estimated $1.3 billion, with his first Nike deal being valued at $500,000.
Additionally, Jordan has ventured into a range of businesses and investments, including co-owning the NASCAR team, 23XI, with a reported value of $150 million.
He is an advisor and investor in sports betting company DraftKings, which boasts a market capitalization of around $11.8 billion as of June 2023.
Jordan is also a co-owner of Cincoro, a luxury tequila brand that has achieved impressive sales and garnered 23 awards at spirit competitions.
Beyond these ventures, Michael Jordan owns several restaurants and even co-owns a tequila brand, Cincoro, with other NBA owners.
The luxury tequila brand, as of 2022, has sold 1.5 million bottles nationwide and claimed 23 awards in spirit competitions. With a variety of bottles ranging from $300 to over $4,500 for a limited edition, Cincoro Tequila has marked a successful venture for the basketball legend.
Furthermore, Jordan possesses his own restaurant chain, Michael Jordan’s Steak House, with locations in Illinois, Connecticut, and Washington.
- Bloomberg – Michael Jordan Is the Richest NBA Player Ever With $3.5B Fortune
- NBA – Michael Jordan Reaches Agreement to Sell Majority Stake in Hornets to Group Led by Gabe Plotkin and Rick Schnall
- ESPN – Sources: Michael Jordan agrees to sell Hornets stake for $3B
- Axios – Michael Jordan Cashes in on Hornets Sale
- Forbes – The 25 Highest-Paid Athletes of All Time
- Forbes – Michael Jordan
- NBA – Bulls History: Michael Jordan
- Front Office Sports – Nike, Jordan Score With Jordan’s Brand’s Record Haul
- Forbes – Michael Jordan Has Made Over $1 Billion From Nike—The Biggest Endorsement Bargain in Sports
- Forbes – The Inside Story of How Michael Jordan Became the World’s Richest Athlete
- People – All About Michael Jordan’s Parents, Deloris and James R. Jordan, Sr.
- IMDB – Air
- DraftKings – Michael Jordan Joins DraftKings as Special Advisor to the Board
- Cincoro – About
- CNBC – The Tequila Brand Founded by Michael Jordan and Other NBA Owners Makes a New Play for the Luxury Market
- Cincoro – Reserve Bar
- NASCAR – 23XI Racing Team
- First Sportz – NASCAR Team 23XI Racing is “Way Better Money” For Michael Jordan than Charlotte Hornets
- Michael Jordan’s Steak House – Locations
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