Inside Michael Jordan’s new $70 million private jet featuring a $500,000 custom paint job
- Michael Jordan spent $70 million on his private jet
- He also spent $500,000 for a custom paint job for the jet
- Some fans believe they know exactly where the inspiration came from
Published on Oct 11, 2024 at 1:58 PM (UTC+4)
by Alessandro Renesis
Last updated on Oct 11, 2024 at 5:40 PM (UTC+4)
Edited by
Tom Wood
Michael Jordan is a billionaire, and he spent what is a relatively small portion of his considerable net worth on a new private jet.
The jet cost him around $70 million, nickles and dimes to him, and then he spent half a million on a custom paint job.
Known as ‘elephant print’, the paint job adorns his ‘236MJ’ Gulfstream jet.
Some people think they know exactly why he went for this particular option.
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A Jordan-inspired livery
Several fans of Michael Jordan and the Jordan brand pointed out that the livery he chose for his jet is surprisingly similar to the ‘elephant print’ design used for several Jordan sneakers.
That’s actually a good observation.
Michael Jordan made a lot of money playing basketball, but he mostly owes his fortune to the Jordan brand and the deal he made with Nike.
The story, which inspired the 2023 movie ‘Air‘, is quite fascinating.
Jordan was offered several options when he was still rookie, but he was able to negotiate a life-changing deal with Nike.
Rather than just some cash, he got equity out of the deal.
As a result, Michael Jordan is entitled to 5 percent royalties on each Jordan brand sale, which means MJ is pocketing around $330 million – 350 million every year just from that, and that’s on top of his NBA earnings, other endorsement deals (including with Urwerk).
With that net worth, it’s easy to see why spending $70 million on a jet and $500,000 for the custom paint job isn’t that big of a deal.
He also customized the tail number, by the way.
It includes ‘MJ’, then ’23, which is jersey number and ‘6’, the number of titles he won.
Michael Jordan seven-figure net worth
Michael Jordan has a net worth of around $3.5 billion.
This explains why he was able to buy not one but two bespoke, seven-figure hypercars.
He bought both the Pininfarina Battista and the Hennessey Venom F5.
It also explains why he owns an $80 million yacht and he once bought seven cars in one day, and apparently they gave all but one away.
More to the point, it also tells us why he probably won’t lose sleep over the fact he hasn’t been able to sell his multi-million dollar home in Chicago for a decade.
