Michael Jordan's net worth: what made him a billionaire?

Michael Jordan's net worth: what made him a billionaire?

Michael Jordan is a former professional basketball player and businessman from the United States. He is widely considered to be one of the best basketball players of all time. MJ has acquired considerable fame and income and is regarded as one of the wealthiest athletes in the world. What is Michael Jordan's net worth? Is he a billionaire?

Michael Jordan's net worth
Michael Jordan attends a press conference before the NBA Paris Game match between Charlotte Hornets and Milwaukee Bucks in Paris, France. Photo: Aurelien Meunier
Source: Getty Images

Jordan was born on February 17, 1963, at Cumberland Hospital in Fort Greene, Brooklyn, New York City. He is the son of Deloris, a bank employee, and James R. Jordan Sr., an equipment supervisor. Jordan is one of the NBA's greatest legends, and his name will forever be synonymous with the best basketball player.

What is Michael Jordan's net worth?

According to Celebrity Net Worth, Michael Jordan's net worth is $2.2 billion, making him the highest-paid athlete in history. He is recognised as a one-of-a-kind athlete since he remembers and even celebrates his failures.

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How much does Michael Jordan make a year? MJ's most stable sources of revenue are his Nike/Jordan Brand endorsement deals, valued at around $60 million per year, and his stake in the Charlotte Hornets.

During his career, he earned $90 million in compensation and $1.8 billion from corporate partners such as Nike, Hanes, and Gatorade. Besides, the man still has sponsorship agreements with Hanes, Gatorade and Upper Deck, which also contribute to the increase in his earnings.

What made Jordan a billionaire?

The NBA legend Michael Jordan acquired a majority stock holding in the Hornets in 2010, but it turned out that he was less successful as a club owner than on the basketball court. Jordan won the champion title six times as a member of the Chicago Bulls, but the Hornets never won a playoff match under his supervision.

Who is the richest basketball player ever?
Charlotte Hornets owner Michael Jordan looks on during their game against the Orlando Magic at Spectrum Center on March 03, 2023, in Charlotte, North Carolina. Photo: Jacob Kupferman
Source: Getty Images

Despite the setbacks, the Hornets turned out to be an extremely successful investment for the athlete. In 2006, Jordan was a minority shareholder of the club before paying about $175 million for the team in 2010 and promised to send tens of millions of dollars to future transaction costs.

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Forbes estimated the team at $1.05 billion, including $150 million in debt. The rise in the team value and the continued success of the Jordan Brand from Nike in 2018 increased his fortune to $1.65 billion.

Before the Hornets, his fortune consisted of what he had earned during his career in the NBA, especially sponsorship contracts. Michael earned $90 million in fifteen years he spent as a player.

He remained the highest-paid NBA player in just two seasons of his career. He made another $1.4 billion thanks to contracts with corporations since he became a professional player in 1984, including his income after leaving the sport.

How much did MJ pay for the Hornets?

Michael paid $180 million in cash for Bob Johnson's 80% stake in the team in 2010. He became the first ex-player to possess a majority stake in an NBA team. The Hornets are now worth $1.3 billion. Jordan's ownership is worth $1.13 billion after debt.

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Career summary

Michael Jordan is a well-known figure in the sports world. He rose to prominence as a skilled basketball player. Even after retiring, he is still actively interested in sports and owns sports teams.

He began his basketball career in high school, where he was named ACC Freshman of the Year. He also played basketball in college at North Carolina University.

Jordan was chosen third overall in the 1984 NBA draft by the Chicago Bulls. He played for the team from 1984 to 1993 and again from 1995 to 1998.

He joined the Washington Wizards and remained with the team until his retirement in 2003. Throughout his career, he has garnered various accolades and honours for his exceptional talent.

Michael Jordan's houses

How much does Michael Jordan make a year?
Michael Jordan attends the 2022 NBA All-Star Game at Rocket Mortgage Fieldhouse in Cleveland, Ohio. Photo: Kevin Mazur
Source: Getty Images

Where does Michael Jordan live? The player has several properties throughout the United States. He currently resides in a wealthy estate in Jupiter, Florida.

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The 11-bedroom, 26,000-square-foot mansion lies on three acres within Jack Nicklaus' ultra-exclusive Bear's Club enclave. He paid $4.8 million for the lot in 2011, then spent two years and $7.6 million re-building it.

He paid $2.8 million for a sprawling home on a lake in Charlotte, North Carolina, in 2013. His lake mansion has a total area of 12,310 square feet with six bedrooms and eight baths. It is situated on an approximately 50,000-square-foot site on the lake.

The inside has soaring ceilings, marble and oak flooring, many fireplaces, and a lift. Outside is a pool and a pier leading to a lakeside gazebo.

He also has a luxury condo in the city and a home in Salt Lake City, Utah. Michael has a big estate in Highland Park, Chicago. He lived at the house during many of his record-breaking seasons with the Chicago Bulls. The house was listed for sale in 2013 for $29 million. In May 2015, the price was reduced to $14.8 million.

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Michael Jordan's cars and private jet

Michael Jordan owns a custom Gulfstream G550 private jet worth $50 million. His renowned "Jumpman" emblem appears on its tail, and the registration number N236MJ represents his jersey number and initials.

Jordan owns several high-end vehicles, including a Chevrolet Corvette C4 (1984), Porsche 930 Turbo Cabriolet 'Flat Nose' (1989), Toyota Land Cruiser J80 (1991), Ferrari 512TR (1992), Chevrolet Corvette ZR1 40th Anniversary Edition (1993), and an Aston Martin DB7 Volante (2001).

Philanthropic donations

Michael has supported various charitable organizations. His donations include:

  • The Institute for Community-Police Relations and the NAACP Legal Defense Fund ($1 million each)
  • Opening two health clinics for low-income and uninsured people in Charlotte ($7.2 million).
  • He gave his whole profit from The Last Dance docuseries, which is estimated to be $3-4 million, to charity.
  • He gave $2 million to Feeding America during Covid-19.
  • He pledged a $10 million commitment to the Make-A-Wish foundation on February 15, 2023, to commemorate his 60th birthday.

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Who is Michael Jordan's wife

How much did MJ pay for the Hornets?
Yvette Prieto and her husband watch on during their game against the Atlanta Hawks at Time Warner Cable Arena in Charlotte, North Carolina. Photo: Streeter Lecka
Source: Getty Images

The former basketball player is married to Yvette Prieto, an American model who has also starred as herself in the documentary Cuba: An Island Apart.

Michael and Yvette have twin daughters who were born in 2014. Yvette is stepmother to Jordan's three children from his previous marriage to Juanita Vanoy.

Michael Jordan's quotes

The former NBA player has influenced many people. Here are some of his motivational quotes.

  • My attitude is that if you push me towards something that you think is a weakness, then I will turn that perceived weakness into a strength.
  • I've failed over and over and over again in my life, and that is why I succeed.
  • The game has its ups and downs, but you can never lose focus on your individual goals, and you can't let yourself be beaten because of lack of effort.
  • My attitude is that if you push me towards something that you think is a weakness, then I will turn that perceived weakness into a strength.
  • I hope the millions of people I've touched have the optimism and desire to share their goals and hard work and persevere with a positive attitude.

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Who is the richest basketball player ever?

Michael Jordan is the richest basketball player, with a net worth of $2.2 billion. He is closely followed by LeBron James, whose net worth is $1 billion.

Michael Jordan's net worth is an excellent example of how hard work and incredible talent can make one the highest-paid athlete of all time.

Legit.ng recently published the biography of Burna Boy. He is a Nigerian singer, songwriter, and record producer. He was born Damini Ebunoluwa Ogulu in Port Harcourt, Rivers State, Nigeria.

He first gained public recognition in 2012 after releasing his hit single Like to Party, which became the lead single off his debut album, LIFE. His other popular songs include Tonight and Run My Race.

Source: Legit.ng

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