How Michael Jordan Became The Wealthiest Athlete With 4% of His Wealth Coming From His NBA Salary
Micheal Jordan is the richest athlete in the history of sports. Micheal Jordan became the wealthiest athlete with only 4% of his wealth coming from his NBA salary.
Michael Jordan is widely considered the greatest basketball player of all time. His resume includes 6 NBA championships, 6 NBA Finals MVPs, 10x All-NBA 1st Team, and 14x All-Star Selections.
Michael Jordan made $93 million in NBA salary throughout his career. If you’ve watched his latest documentary on Netflix, you learned Scottie Pippen was one of the most “underpaid” athletes in the NBA during the early 90s. The craziest thing is Pippen ended up making $17 million more than Jordan despite playing 2 less years.
Similar to this on court play, Michael Jordan has also dominated off the court. Michael has earned an estimated $1.7 billion in endorsements since he entered the league. His endorsements include:
And the most important one of all is, Nike.
When it comes to Nike, Michael Jordan is king. Thanks to a 5% royalty on all Jordan Brand shoes & merchandise, Jordan has made over $1.3 billion off Nike since 1984.
The cash just keeps rolling in for Jordan. With $3 billion in sales last year, Jordan took home $130 million in royalties.
Micheal Jordan is also a wizard when he makes his investments. When it comes out to all of his investments, the Charlotte Hornets might be Micheal Jordan’s best. In 2010, Jordan paid $180 million to own 97% of the team. After a decade of losing, Jordan sold 20% of the team in 2019 - which valued the franchise at $1.5 billion.
Jordan has worked hard to diversify his investment portfolio. In 2015, Michael Jordan and Mark Cuban participated in a $44 million funding round for sports data company, Sportsradar, which is currently valued at $2.5 billion.
Other investments in Jordan’s portfolio include:
- Muzik (headphones)
- Gigster (Tech)
- aXimoatic (eSports)
- Cincoro (tequila)
- A Car Dealership
- Cornerstone Restaurant Group
- Miami Marlins
Michael Jordan undoubtedly had the cash and fame to invest with, but time and time again, we have seen athletes in a similar position with potential to waste it away. MJ is an incredible example of how an amazing athlete can continue his domination once leaving the game.
Through his hard work and dedication, Micheal Jordan became the best basketball player ever. Since retirement, he has proven just to be as great with his investments as he was with his game.