Michael Jordan net worth
What is Michael Jordan’s Net Worth, Salary and Career Earnings?
Michael Jordan is a retired American basketball player, team owner, product spokesperson and entrepreneur. Michael Jordan’s net worth is $2.2 billion.
During his NBA career, Michael earned a total salary of $93.7 million. He is the first athlete in history to earn more than $30 million a year. He accomplished this feat during the 1996-1997 season, when his base salary was $30.14 million. The following season, he made $33.14 million, which was the same as today’s $53.4 million adjusted for inflation.
Even though he hasn’t played professional basketball in nearly two decades, today Michael makes $100 million a year from endorsements and various other business endeavors. Mind you, that’s more than his salary earned in 16 NBA seasons. Michael earns at least $60 million annually from Nike/Jordan Brand royalties.
Michael became a billionaire with his ownership of the Charlotte Hornets NBA team. We’ll outline this investment in more detail later in this article.
Jordan leads chicago bulls 6 NBA championship titles. He is a five-time league MVP. He holds the record for the highest career scoring average ever and was inducted into the Hall of Fame on September 11, 2009.
“I’ve missed more than 9,000 shots in my career. I’ve lost nearly 300 games. 26 times I’ve been trusted to take the game-winner…and I missed. I’ve failed, time and time again. “It happened again in my life. This is the reason for my success. “
– Michael Jordan.
Wealth Milestones
In September 2009, we first added Michael Jordan to Celebrity Net Worth with a net worth of $500 million. Six years later, in 2014, he became a billionaire for the first time. He crossed the $2 billion mark for the first time in early 2020.
| Michael Jordan Net Worth Milestones | |
| year | net worth |
| 2009 | $500,000,000 |
| 2013 | USD 650,000,000 |
| 2014 | $1,000,000,000 |
| 2016 | $1,100,000,000 |
| 2017 | $1,200,000,000 |
| 2018 | $1,500,000,000 |
| 2019 | $1,900,000,000 |
| 2020 | USD 2,200,000,000 |
early life
Michael Jeffrey Jordan was born on February 17, 1963 in Brooklyn, New York. His mother, Deloris, worked in finance, and his father, James R. Jordan Sr., was a facility supervisor. When Michael was a toddler, the family moved to Wilmington, North Carolina.
Michael played basketball, baseball and soccer at Emsley A. Laney High School in Wilmington. He is known to have tried for the varsity basketball team as a sophomore but was rejected for being “only” 5-foot-11. Furious at the rejection, MJ went out of his way to do well on the junior varsity team. He grew 4 inches in the summer between his sophomore and junior years before earning a coveted spot on the varsity team.
Michael ignited the varsity team, averaging 25 points per game during his junior and senior years. As a senior, he was selected to compete in the 1981 McDonald’s All-American Game, where he scored 30 points.
college life
Not surprisingly, Michael, now 6-foot-6, has been recruited by dozens of college programs including Syracuse University, the University of Virginia, Duke University and the University of North Carolina. He ultimately chose to attend UNC.
At North Carolina, he averaged 13.5 points and was named ACC Rookie of the Year, leading the team to a 1982 NCAA Tournament victory against Georgetown Hoyas. With 15 seconds left, Michael hit a go-ahead shot over Patrick Ewing at Georgetown Center. This will be the game-winning goal. Michael later revealed that the game and that particular shot was a major turning point in his personal confidence and future basketball career.
NBA career
Michael spent three seasons with the UNC Tar Heels, winning numerous honors, including the Naismith and Wooden College Player of the Year awards in 1984. He left North Carolina a year early for the 1984 draft. Impressively, Michael returned to the University of North Carolina in 1986 to complete his studies with a bachelor’s degree in geography.
Surprisingly, he wasn’t the first choice. He is the third overall pick after Sam Bowie (#2) and Hakeem Olajuwon. Michael was selected third overall by the Chicago Bulls.
Michael signed his rookie contract with the Bulls on September 12, 1984. The seven-year contract is worth $6 million, or about $850,000 per season on average. In the year before Michael became the Bulls, the team sold out just six games. Attendance doubled during Michael’s rookie season.
At the end of his fifth season, Michael and Chicago agreed to an eight-year, $25 million extension. This is by far the largest trade in NBA history. As a result, Michael’s salary jumped to around $5 million a year. When that contract expired in 1996, Michael signed a one-year, $30 million contract. The following year, he signed a one-year, $33.14 million contract. The latter’s inflation-adjusted value is the same as today’s roughly $55 million.
Michael returned to the NBA twice after retiring. He retired to play minor league baseball once. When he returned to the NBA for the second time, he played for the Washington Wizards for two seasons.
As we mentioned earlier, Michael’s total salary over the course of his NBA career is $93.7 million. Adjusted for inflation, his salary is $161 million annually. Here’s a year-by-year breakdown of Michael’s NBA salary history:
| season | salary | Inflation adjustment |
| 1984-1985 | $550,000 | $1.4 million |
| 1985-1986 | $630,000 | $1.5 million |
| 1986-1987 | $737,500 | $1.7 million |
| 1987-1988 | $845,000 | $1.9 million |
| 1988-1989 | $2,000,000 | $4.4 million |
| 1989-1990 | $2,250,000 | $4.7 million |
| 1990-1991 | $2,500,000 | $5 million |
| 1991-1992 | $3,250,000 | $6.2 million |
| 1992-1993 | $4,000,000 | $7.4 million |
| 1993-1994 | $4,000,000 | $7.4 million |
| 1994-1995 | $3,850,000 | $6.7 million |
| 1995-1996 | $3,850,000 | $6.7 million |
| 1996-1997 | $30,140,000 | $50 million |
| 1997-1998 | $33,140,000 | $53.41 million |
| 2001-2002 | $1,000,000 | $1.5 million |
| 2002-2003 | $1,030,000 | $1.5 million |
| $93,772,500 | $161 million |
(Photo by Jonathan Daniel/Getty Images)
Nike deals and annual royalties
Before Michael Jordan, the largest celebrity sneaker endorsement deal in the world was James Worthy’s $150,000 annual deal with New Balance. Jordan broke all endorsement records in 1984 when Nike agreed to pay Jordan $500,000 a year for five years. Jordan also received stock options in Nike, which brought his total compensation to $7 million over five years.
Before signing, Michael had never worn a pair of Nike shoes in his life and always wanted to sign with Adidas, but Nike’s offer was too lucrative to refuse, and Adidas couldn’t match it.
When he first introduced the shoes, they violated the NBA’s uniform restrictions. Nike paid all the league fines and used the controversy to create excitement around the brand. Air Jordan shoes first appeared in stores in March 1985, and two months later more than a million pairs were sold. In its first year, Air Jordan generated $100 million in revenue for Nike. Today, 58% of basketball shoe sales come from Air Jordan, a brand that generates more than $2.5 billion in annual sales for Nike.
In 1992, Michael made 25 cents for every Jordan shoe he sold. Today, he makes $4 for every shoe he sells.
From 2002 to 2012, Nike paid Michael $480 million in shoe royalties.
Michael Jordan’s annual Nike royalty checks today are typically around $8-100 million. However, over the years, his royalty checks have exceeded $100 to $120 million.
endorsement
Throughout his impressive career, and even now, Michael Jordan has been the face of many corporate brands, including Nike, Gatorade, Wheaties, McDonald’s, Coca-Cola, Chevrolet, Ball Park Franks, Rayovac, Hanes and MCI. Jordan also holds deals with Upper Deck, 2K Sports and Five Star Fragrances. He owns a car dealership and seven restaurants.
After Nike, one of his biggest early endorsement deals, which would become the cornerstone of Jordan’s life, was with Gatorade. At the end of the 1989 season, Michael signed a 10-year, $18 million endorsement deal with Gatorade. Gatorade’s famous “Be Like Mike” ad originally ran after the Bulls won the first of six championships. The Michael/Gatorade partnership has brought the brand and men’s awareness to even greater heights.
A lawsuit filed in 2015 against a supermarket chain for allegedly using Michael’s image without permission showed the superstar would not sign any deal unless he expected to eventually earn at least $10 million from the partnership. Dollar. We also learned that Michael turned down $80 million to endorse a line of headphones because he clearly didn’t like wearing them.
As of this writing, Michael Jordan has earned $1.4 billion from corporate partners over the course of his career (before taxes).
Street Leica/Getty Images
Juanita Jordan divorce settlement
Michael married Juanita Vanoy in September 1989. They have three children together. When Michael filed for divorce from Juanita Jordan in 2002 after 13 years of marriage, he was eventually forced to pay her a $168 million divorce settlement. This is one of the most expensive divorce cases in history. The settlement includes cash, stock and the value of the various real estate they hold.
Michael has been married to Cuban-American model Yvette Prieto since April 2013. She gave birth to their identical twin daughters in February 2014.
How Michael Jordan became a billionaire
After taxes, divorce settlements and other lifestyle expenses, Michael’s net worth in 2006 was about $450 million. That same year, he purchased a minority stake in the Charlotte Bobcats NBA team. At the time he was the team’s second-largest individual owner, behind BET founder Robert Johnson. In 2010, Michael paid $175 million for Robert’s stake in the team. With the deal, Michael owns 80% of the team.
In June 2014, it was revealed that Michael had increased his ownership again, this time from 80% to 89.5%. At the time, the newly rebranded Hornets were recently valued at $500 million and had $135 million in debt. Around this time, the Clippers, recently valued at $500 million, sold for $2 billion. Assuming the Hornets are actually worth $600 million at this point, that means Michael’s post-debt stake is worth $416 million, plus his outside wealth of $600 million, giving Michael Jordan a net worth of $1.016 billion Becoming a billionaire for the first time. Read more here: Michael Jordan is a billionaire.
In 2019, Michael sold a small stake to hedge fund managers Gabe Plotkin and Daniel Sundheim at a $1.5 billion valuation.
Real Estate and Private Jets
Michael’s main residence today is a luxurious mansion in Jupiter, Florida. This 26,000 square foot, 11 bedroom home sits on 3 acres in Jack Nicklaus’ ultra-exclusive Bear Club community. He bought the land in 2011 for $4.8 million, then spent two years and $7.6 million building a dream home. He also owns a $3 million lakefront home in Charlotte, North Carolina, and a luxury condo in the city so he can be close to his Hornets. He also reportedly owns a property in Salt Lake City, Utah.
Back in Chicago, Michael still owns a mansion in Highland Park. In 1991, Michael bought a lot in Highland Park and quickly set about building his dream home. The end result is a 7-acre property with 32,683 square feet in the main house alone. The home has nine bedrooms, 15 bathrooms, an NBA quality basketball court, pool pavilion, 15 car garage, chess room, tennis court, PGA quality putting green, cigar room, wine cellar…and more. Michael listed the house for $29 million in 2013. In May 2015, the price dropped to $14.8 million. It hasn’t found a buyer yet:
Michael Jordan owns a $50 million custom Gulfstream IV private jet that flies to and from homes around the world. The tail of the jet has Michael’s famous “jumping man” logo. Here’s a video of a jet taking off from a Canadian airport:
generalize
As of 2020, Michael Jordan’s net worth is $2.2 billion.
