Michael Jordan: From NBA Legend to Billionaire Businessman

Mentioning Michael Jordan is referring to the best player in the history of the NBA, according to experts, a true basketball legend and also one of the richest athletes in the world, well, even though he has been off the court for 20 years His assets continued to grow disproportionately.

The world of basketball opened the doors to a successful career that left him six NBA titles and million-dollar earnings. But, throughout his 60 years he also got involved in multiple businesses that helped him amass the billion-dollar fortune that he holds today, Vanity Fair reports.

Until June 2023, Celebrity Net Worth estimated Michael Jordan’s fortune at $2.6 billion; However, he recently reached a financial milestone by selling his majority stake in the Charlotte Hornets team, as People mentions in one of their Instagram posts.

With the closing of the transaction, Michael Jordan managed to increase his assets to three billion dollars, according to data provided by Forbes Argentina.

What are the businesses that made Michael Jordan a millionaire?

His sports career began in 1981, but it was in 1984 when he joined the Chicago Bulls. Since then, basketball has given him the largest percentage of his earnings.

The 1.98 meter tall North Carolina native also knew how to take advantage of the opportunities that were presented to him, such as a juicy contract with the sports brand Nike that still continues to generate income for him today.

“In 2022 alone, the Jordan brand, still in the hands of Nike, generated more than 4.6 billion euros. Of which 5% went directly into Mike’s pockets,” Vanity Fair reported in April 2023.

Once he officially retired from basketball in 2010, he acquired a majority stake in the Charlotte Hornets for $180 million, as the American media recalled. Today the team is valued at $1.7 billion, according to Forbes data.

After 13 years as majority owner, Mike would have finalized the sale for $3 billion, according to Celebrity Net Worth estimates.

Michael Jordan launched other businesses that also contributed figures to his accounts and helped him become a billionaire:

Multimillion-dollar agreement with NikePurchase of the NBA team Charlotte HornetsThe construction of Grove XXIII, a luxurious and exclusive golf course in Florida that has less than 100 members, according to Vanity Fair, whose monthly fee is around 19 thousand dollars. Jordan is the owner of a team in NASCAR and to date its drivers have won two victories. It owns a super premium tequila brand “Cincoro”, which includes other former NBA players as partners.

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2023-10-16 00:00:00
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