Michael Jordan Net Worth

April 18, 2024
3 mins read

Michael Jeffrey Jordan was born on 17 February 1963, in Brooklyn, New York City USA. Today people know him as a basketball legend, a former NBA player, who in his playing days set a new sport record during 1996-1998 years, earning $30 million per year while playing for the Chicago Bulls. Nowadays Michael Jordan’s capital rises every year, mainly because of Jordan’s deals with such companies as Nike, McDonalds, Coca-Cola and Gatorade, as well as his ownership of a basketball team.

So just how rich is Michael Jordan? Sources estimate that Michael now has a net worth of over $1 billion, fuelled increasingly by his sponsorship deals. Jordan is now also an active businessman and owner of a professional basketball team, the Charlotte Hornets, so although the NBA legend has finished his basketball playing career, he still earns over $80 million every year.

Michael Jordan Net Worth $1 billion

Michael’s family moved to North Carolina when he was a kid, and he was educated at Emsley A. Laney High School, also playing football and baseball as well as basketball. After a growing spurt, Michael was selected for the basketball team, and subsequently for the McDonald’s All-American Team, averaging almost 30 points, 11.6 rebounds and 10 assists per game. Jordan then entered North Carolina University, and was so impressive on court that he was twice picked for the NCAA All-American First Team, but then decided to forego his final year and enter the 1984 NBA Draft – he was selected in the first round by the Chicago Bulls, for whom he played for the next 12 seasons. The rise of his net worth was assured.

All Jordan’s achievements are too numerous to mention, some indication of his performances. He was voted Rookie of the Year in ’84-85, in ’86-87 he became only the second player to score 3,000 points in a season, but the first to record 200 steals and 100 blocked shots. The Bulls improved steadily, and in ’91-’92 Jordan led them to the first of six NBA Championships, each time also being voted the MVP of the series, easily as record. The series of wins was interrupted by Jordan ‘retiring’ effectively for two seasons to play baseball, but he returned full-time in ’95-’96, and it was ‘business as usual’: three more Championships.At this point, Jordan was being paid around $30 million per season, and his net worth was sky-rocketing.

Jordan retired from playing again in ’99, becoming the controller of basketball at the Washington Wizards, but returned in 2001 to play two seasons for the Wizards, retiring finally at the age of 40. Meantime, he had been voted season MVP five times, played 14 NBA All-Star Games, was 10 times NBA scoring champion, also NBA defensive champion in ’88, and had scored more than 32,000 points in 1200 club games. He is also only one of two players to win Olympic gold medals as an amateur (1984) and professional – with the ‘Dream Team’ in 1992. Because of his athletic and technical ability but also his demeanour, he was admired and supported not only by his own club, but by players, coaches and fans throughout the NBA.

Michael Jordan earned a total amount estimated at $93.7 million during his career. His salary was highest in years 1996-1998, although since 1989 and until 1998 he never earned less than $2 million per year. With the Washington Wizards his annual salary amount was approximately $1 million.

In 2006, Jordan bought a share in the Charlotte Bobcats – now Hornets – NBA team, but although the business is going well, the playing results have been some of the worst in NBA history.

Aside from direct involvement in basketball, Michael Jordan continues to be involved in many sponsorship contracts. His main and most noted deal is with Nike – this settlement allowed him to create the famous Air Jordan shoes. They first appeared in stores in March 1985 and over a million pairs were sold in first two months. Until today 58% of all  basketball shoes bought are Air Jordans – this brand produces over $2.5 billion in sales for Nike every year.

The NBA legend is today also the owner of the Bears Club home in Florida, USA; Highland Park mansion, which is available for $21 million and is located in Highland Park Illinois, USA; Miami estate in Florida; Charlotte penthouse in Charlotte, North Carolina, USA; and a North Carolina home, which was purchased by him in 2013. .

Such a great basketball playing career also let Jordan buy a private jet, a Gulfstream IV with two Rolls Royce engines and passenger capacity for a maximum of 19 people. The numbers painted on jet – 23 and 6 – represent NBA championship numbers worn by the jet owner. This amazing machine was valued at $50 million and today lets Jordan access any of his properties rapidly from around the world.

Moreover, the celebrity owns four cars. The first one is a Range Rover with a huge LCD screen inside and powerful navigation system. The second car also perfectly represents the NBA star – a Cadillac XLR with a 320 horsepower V8 engine and the amazing fittings of the car include leather seats and touch screen displays. The third Jordan car is a 2007 Mercedez-Benz SLR McLaren with light carbon body and a 670 horsepower engine. The fourth of Jordan’s vehicles is a motorcycle – Ducatti 999. This one was designed by Ducatti Motorcycles and is mainly oriented to races and extreme riding.

In his less-than-private personal life, Michael Jordan’s divorce has become one of the most expensive celebrity divorces in history. After 17 years of marriage with his now former wife Juanita Jordan, they finally divorced in 2006, with Jordan paying her $168 million as a divorce settlement. They have two sons and a daughter. Michael subsequently married model Yvette Prieto in 2013.

Daniel Wanburg

As the Managing Editor at Net Worth Post, I lead a talented team in delivering compelling content on the lives and achievements of influential figures. With a keen eye for detail and a passion for storytelling, I oversee the production of insightful biographies that resonate with our audience. My role involves not only managing the editorial process but also conducting research, crafting engaging narratives, and ensuring the accuracy and quality of our publications.

At NetWorthPost, we strive to provide our readers with in-depth profiles that offer valuable insights into the worlds of business, entertainment, and beyond. Through meticulous research and captivating storytelling, we bring to light the remarkable journeys and successes of individuals who inspire and captivate us.

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