The steps Michael Jordan took to build his fortune
Published on Oct 10, 2023 at 8:15 PM (UTC+4)
by Adam Gray
Last updated on Oct 11, 2023 at 12:48 PM (UTC+4)
Edited by
Kate Bain
In case you missed it, Michael Jordan reached a new career milestone recently.
The NBA star’s now worth a whopping $3 billion, ranking him among America’s 400 wealthiest people, according to Forbes.
Jordan made shy of $100 million through NBA contracts as a player – but how did he build the rest of his fortune?
READ MORE! Michael Jordan enters prestigious Forbes 400 after selling one of his most valuable assets
Since Michael Jordan retired 20 years ago, he has built the most successful and lucrative career ever seen by a former athlete.
So much so, he’s the first athlete in the world to become a billionaire.
Crazy really, when you think of how much Cristiano Ronaldo is worth and what he spends his fortune on.
Back in 2015, Michael Jordan was reportedly making $100 million a year from Nike and Air Jordan brand royalties alone.
To put that into perspective, LeBron James was estimated to earn less than $90 million a year from salary, winnings, and endorsements at that time.
Fast forward to today, and Nike’s Air Jordan brand now brings in roughly $3.6 billion in revenue each year.
But the Air Jordan brand isn’t his only money spinner.
Michael Jordan purchased the Charlotte Hornets for $275 million in 2010, and actually became a billionaire in 2014 when the franchise’s value rose.
He reportedly owned 97 percent of the franchise, but dediced to sell a minority stake in 2019, before selling most of his remaining ownership for $3 billion a few months ago.
Away from Basketball, Michael Jordan built his own golf course in 2019.
Grove XXIII – keeping with his obsession with the No. 23 – opend in fall that year in Hobe Sound, Florida.
Jordan loves to golf, and his course has earned the nickname “Slaughterhouse 23”.
It was designed by Jordan, for Jordan, aimed at maximizing his style of play against his opponents, especially when playing for money against pro golfers.
The course has lavish amenities, including a drone delivery service that brings beer and other refreshments to the club’s exclusive members.
And it was Grove XIII where Michael Jordan took delivery of a $3.5 million hypercar for his collection.
In March of this year, Jordan was part of a $305 million investment in Dapper Labs, the startup behind virtual trading-card platform NBA Top Shot.
Other investors included Will Smith, Kevin Durrant, and 2 Chainz.
Apparently, Dapper Labs had a $2.6 billion valuation after the round, a source close to the company claimed.
A big man with a big appetite, Michael Jordan owns several of his own restaurants.
These include 1000 NORTH in Florida, Michael Jordan’s Steakhouses in Connecticut, Washington, and Chicago; and Michael Jordan’s Restaurant in Chicago.
But as well as liking food, the basketball legend has a penchant for strong drinks.
In 2019, Jordan and a team of four others created Cincoro tequila.
The brand had a co-starring role in his “The Last Dance” docuseries, as it was often by his side during the on-camera interviews.
So there you have it – that’s how Michael Jordan has built a lucrative career and is now worth $3 billion, but what will he be worth this time next year?
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Adam Gray is an experienced freelance motoring journalist and content creator based in the United Kingdom. Using his media accreditation with manufacturers’ press offices, Adam test drives the latest cars and attends new vehicle press launches, producing written reviews and news pieces for a variety of lifestyle and business publications. Here at Supercar Blondie, Adam applies his journalistic skills penning social-first content around current news and trends. When he’s not behind the wheel of the latest car or writing up another viral story, Adam can be found at his local rink playing ice hockey or at the Riverside Stadium supporting his beloved Middlesbrough FC.
