Michael Jordan earned his fame through basketball, but most of his wealth comes from another source.
During his prime, he was the highest-paid athlete in the NBA, one season earning $33.1 million.
However, the source of his billionaire status is an entirely different income stream.
Michael Jordan is not just a sporting legend, he’s a savvy businessman.
He has always made sure his pockets are lined with multiple sources of income.
Like winning money from fishing competitions on his private yacht.
Or charging people a $250,000 membership fee to join his private golf club.
Or selling his majority stake in the Charlotte Hornets.
Of course, Jordan’s journey to the Forbes Billionaires List began with his NBA career.
After winning six championships and numerous awards he retired from the game in 1993.
During his final season for the Chicago Bulls, he earned $33.1 million, which made him the highest-paid NBA player at the time.
In total, he made $94 million throughout 15 NBA seasons.
That’s a lot of money, but surprisingly it’s not the bulk of his wealth.
In fact, like some people might know, most of his fortune comes from his collaboration with Nike.
He and the brand created the iconic Air Jordan sneaker together back in 1984.
Thanks to his mother, Jordan added a clause to his contract with the brand that stipulated that he would earn a percentage of every shoe sold.
And a lot of shoes sold.
The brand expanded to include athletic apparel and accessories, as well as collaborations with other brands.
Last year he brought in $256.1 million from Jordan sales alone.
Since 1984 it’s estimated he’s earned $1.6 billion from this profitable venture.
And the huge cultural impact of Jordans suggests his wealth shows no signs of slowing down.