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Michael Jeffrey Jordan, also known by his initials MJ, is an American icon, businessman, and former professional basketball player with an estimated net worth of $1.6 billion, according to Forbes. Michael Jordan has been dubbed "the greatest basketball player of all time". In the 1980s and 1990s, he was instrumental in popularizing the NBA around the world, becoming a global cultural symbol in the process.
Jordan was pursued by a number of college basketball programs, including Duke, North Carolina, South Carolina, Syracuse, and Virginia. He received a basketball scholarship to the University of North Carolina at Chapel Hill in 1981, where he majored in cultural geography. Jordan played three seasons of college basketball for the North Carolina Tar Heels. In 1982, he was a member of the Tar Heels' national championship team as a freshman. Jordan joined the Bulls as the third overall draft pick in 1984 and quickly became a league star, entertaining crowds with his prolific scoring while establishing himself as one of the game's best defensive players.
Michael made a total of $93.7 million in salary during his NBA career. He was the first athlete in history to receive a salary of more than $30 million per year. He received $30.14 million in base salary during the 1996-1997 season to achieve this feat. Since adjusting for inflation, he won $33.14 million the next season, which is equivalent to $53.4 million today. Six NBA Finals Most Valuable Player (MVP) Awards, ten scoring titles (both all-time records), five MVP Awards, ten All-NBA First Team honors, nine All-Defensive First Team honors, fourteen NBA All-Star Game picks, three All-Star Game MVP Awards, three steals titles, and the 1988 NBA Defensive Player of the Year Award are among Jordan's individual accolades and achievements.
Jordan gained prominence as a result of his lucrative sponsorship contract with Nike, which contributed to the formation of the famous Air Jordan sneakers. In his playing career, Air Jordan earned just $90 million, a sum that today's top athletes earn in two or three years. The other deals, however, remained the secret goldmine of his bulging earnings. In 2019, he earned $3.14 billion from his Nike contract, which he signed in 1984 for $500000 a year. According to Forbes, Jordan's brand still generates $1 billion in revenue for the sportswear business. Nike paid Michael $480 million in shoe royalties between 2002 and 2012. According to Business Insider, he earns about $100 million a year from Nike royalties. He's also signed multi-million dollar endorsement deals with Gatorade, Coca-Cola, and McDonald's. Michael also starred in his own Looney Tunes film, Space Jam, alongside Bugs Bunny. Whilst also Jordan has been open to cooperating with other brands, he is very selective about the use of his image and likeness. He once declined a tremendous business opportunity with Beanee Weenees merely because he didn't like the name.
In September 1989, Michael married Juanita Vanoy. They had three children as a couple. After 13 years of marriage, Michael Jordan filed for divorce from Juanita Jordan in 2002, and he was forced to pay her a $168 million divorce settlement. Michael's net worth in 2006 was about $450 million after taxes, divorce settlements, and other lifestyle expenses. In the same year, he acquired a minority interest in the NBA's Charlotte Bobcats. He was the team's second-largest individual owner at the time, behind only BET creator Robert Johnson. Michael paid $175 million in 2010 to increase his ownership of the franchise. Despite the fact that the team has yet to win a championship, it is valued at $1.5 billion, with Jordan owning 97% of the team. In April 2013, he remarried a Cuban-American model, Yvette Prieto, after a costly divorce. In February 2014, she gave birth to their identical twin daughters.
After a devastating 2019-2020 NBA season for team owners as a result of the COVID-19 pandemic, the 57-year-old is said to have lost up to $300 million of his net worth in the last year. However, in 2021, the billionaire bought a share in the sports betting firm DraftKings. As a result, the stock increased by 12%, making it an excellent investment for Jordan right away.
Michael currently lives in an opulent mansion in Jupiter, Florida. He paid $4.8 million for the land in 2011, then spent two years and $7.6 million building his dream home. In Charlotte, he also owns a $3 million lake house. He recently donated $2 million to food banks in Chicago and the Carolinas. He pledged to contribute $100 million to different organizations over the next ten years in support of racial equality, social justice, and greater access to education for African-Americans. According to Forbes' 2020 Billionaires List, Jordan is the world's wealthiest retired athlete. Jordan's 2020 Netflix documentary The Last Dance was watched in 23.8 million households outside of the United States. Jordan will not earn from "The Last Dance," as he intends to donate all of his profits to charity. The proceeds may be worth up to $4 million.
Sources: Forbes, Business Insider, The Sportsrush, Celebrity Net Worth, Yahoo Finance, Essentially Sports, Sporting News, Forbes
This article was updated on March 26th, 2021 by Vanessa Shumbanhete
Earnings & Financial Data
|
Date |
Category |
Description |
Amount |
|---|---|---|---|
|
2021 |
Royalties |
Annual royalties from Nike |
$100,000,000 |
|
2020 |
Earning Turned Donation |
$100 million over 10 years to various organizations to improve the African American community |
$100,000,000 |
|
2020 |
Earning Turned Donation |
2 Million in donation to Food banks in Chicago and the Carolinas, |
$2,000,000 |
|
2020 |
Royalties |
Annual royalties from Nike |
$100,000,000 |
|
2019 |
Sale of Asset |
Selling price of Michael Jordan's 32,683-square-foot home in Highland Park |
$14,860,000 |
|
2019 |
Sale of Asset |
Selling price of Michael Jordan's 9,574-square-foot luxury home in Chicago |
$7,500,000 |
|
2019 |
Earning Turned Donation |
Funding for the first of two medical clinics that will offer care to Charlotte residents, including under-insured and uninsured patients, at the Novant Health Michael Jordan Family Medical Clinic |
$7,000,000 |
|
2019 |
Sponsorship |
Michael Jordan's earnings from Nike’s Jordan Brand |
$130,000,000 |
|
2018 |
Earnings |
Michael Jordan's PGA Tour earnings |
$5,440,000 |
|
2018 |
Asset |
Estimated value of Michael Jordan's stake in the Charlotte Hornets |
$800,000,000 |
|
2016 |
Sponsorship |
Earnings from Michael Jordan's endorsement deal with Nike |
$100,000,000 |
|
2016 |
Sale of Asset |
Selling price of Michael Jordan's 56,000-square-foot house north of Chicago |
$14,860,000 |
|
2015 |
Royalties |
Michael Jordan's royalties with Nike |
$100,000,000 |
|
2014 |
Sponsorship |
Earnings from endorsement deals with Nike and other partners |
$100,000,000 |
|
2014 |
Asset |
Estimated value of Michael Jordan's 89% stake in the Charlotte Bobcats |
$416,000,000 |
|
2013 |
Asset |
Purchase value of Michael Jordan's beautiful lakefront home on the Peninsula Golf Course in Cornelius, North Carolina that has spectacular views |
$2,800,000 |
|
2012 |
Sponsorship |
Earnings from Endorsements with Nike, Gatorade, Hanes, Upper Deck, 2K Sports, Presbyterian Healthcare and Five Star Fragrances. |
$80,000,000 |
|
2012 |
Asset |
Purchase value of Michael Jordan's dream house in Florida |
$12,800,000 |
|
2012 |
Sale of Asset |
Selling price of Michael Jordan's mega mansion in Chicago that includes a basketball court, plus a gym and a tennis court |
$29,000,000 |
|
2011 |
Sponsorship |
Earnings from endorsement deals with Nike, Gatorade, Hanes, Upper Deck, 2K Sports and Five Star Fragrances |
$60,000,000 |
|
2010 |
Asset |
Purchase value of Michael Jordan's majority stake in the Charlotte Hornets |
$175,000,000 |
|
2010 |
Asset |
Value of his 80% Stake in the Charlotte Bobcats (as of January 2013) |
$252,000,000 |
|
2007 |
Asset |
Purchase value of Michael Jordan's 9,574-square-foot luxury home in Chicago |
$7,900,000 |
|
2006 |
Sponsorship |
Earnings from endorsement deals with Gatorade, Sara Lee and Upper Deck |
$32,000,000 |
|
2005 |
Sponsorship |
Earnings from a variety of endorsement deals fueled largely by Nike |
$33,000,000 |
|
2002 |
Salary |
Base salary with the Washington Wizards for the year 2002 |
$1,030,000 |
|
2001 |
Contract |
A two-year contract with the Washington Wizards |
$2,030,000 |
|
2001 |
Salary |
Base salary with the Washington Wizards for the year 2001 |
$1,000,000 |
|
1997 |
Contract |
A one-year contract with the Chicago Bulls |
$33,140,000 |
|
1997 |
Salary |
Base salary with the Chicago Bulls for the year 1997 |
$33,140,000 |
|
1996 |
Contract |
A one-year contract with the Chicago Bulls |
$30,140,000 |
|
1995 |
Salary |
Salary from the movie Space Jam as himself |
$20,000,000 |
|
1995 |
Salary |
Base salary with the Chicago Bulls for the year 1996 |
$30,140,000 |
|
1995 |
Asset |
Purchase value of Michael Jordan's mega mansion in Chicago that includes a basketball court, plus a gym and a tennis court |
$14,860,000 |
|
1995 |
Sponsorship |
Earnings from endorsement deals with Rayovac and Oakley |
$40,000,000 |
|
1995 |
Earnings |
Michael Jordan's salary and winnings for the year 1995 |
$3,900,000 |
|
1995 |
Salary |
Base salary with the Chicago Bulls for the year 1995 |
$3,850,000 |
|
1994 |
Sponsorship |
Earnings from an endorsement from MCI |
$2,000,000 |
|
1994 |
Salary |
Base salary with the Chicago Bulls for the year 1994 |
$3,850,000 |
|
1992 |
Salary |
Base salary with the Chicago Bulls for the year 1992 |
$4,000,000 |
|
1991 |
Sponsorship |
Earnings from an endorsement deal with Gatorade |
$13,500,000 |
|
1991 |
Salary |
Base salary with the Chicago Bulls for the year 1991 |
$3,250,000 |
|
1990 |
Sponsorship |
Earnings from an endorsement deal with Ball Park Franks |
$2,000,000 |
|
1990 |
Salary |
Base salary with the Chicago Bulls for the year 1990 |
$2,500,000 |
|
1989 |
Sponsorship |
Earnings from an endorsement deal with Hanes |
$10,000,000 |
|
1989 |
Salary |
Base salary with the Chicago Bulls for the year 1989 |
$2,250,000 |
|
1988 |
Salary |
Base salary with the Chicago Bulls for the year 1988 |
$2,000,000 |
|
1988 |
Contract |
An eight-year contract with the Chicago Bulls |
$25,700,000 |
|
1987 |
Sponsorship |
Earnings from an endorsement deal with Wheaties |
$2,000,000 |
|
1987 |
Salary |
Base salary with the Chicago Bulls for the year 1987 |
$845,000 |
|
1986 |
Salary |
Base salary with the Chicago Bulls for the year 1986 |
$737,500 |
|
1985 |
Salary |
Base salary with the Chicago Bulls for the year 1985 |
$630,000 |
|
1984 |
Sponsorship |
Michael Jordan's first contract with Nike that includes royalties |
$500,000 |
|
1984 |
Sponsorship |
Earnings from an endorsement deal with Chevrolet |
$200,000 |
|
1984 |
Contract |
A six-year contract with the Chicago Bulls |
$6,300,000 |
|
1984 |
Salary |
Base salary with the Chicago Bulls for the year 1984 |
$550,000 |
