Courtesy-Sport.pl
Michael Jordan is one of the most well-known figures in mainstream culture and is almost unanimously considered as the greatest basketball player of all time. Since retiring in 2003, he has created the most profitable and lucrative career of any former athlete.
He has been a billionaire since 2014, despite earning less than $100 million during his tenure as the NBA’s best player of all time. His net worth is currently projected to be $2.1 billion. He’s retired to opulence, spending his days in luxurious mansions, flying in custom jets, and golfing on his own course.
Jordan’s capital, however, continues to rise in tandem with his investment. According to the Social Security Administration, it took him two days and 16 hours to collect what the average American man with a bachelor’s degree would earn in his lifetime — $2.2 million.
Jordan earns what a full-time median US worker earns in a year — $48,328 — in less than an hour and a half.
Jordan’s hourly wage in 2019 was $34,246. He’s so wealthy that a dollar spent by the average American is equivalent to $21,582 spent by Jordan. Jordan was said to be making $100 million a year from Nike royalties alone in 2015. Jordan became a billionaire after purchasing the Charlotte Hornets for $175 million in 2010. Michael Jordan became the highest-paid athlete in history, receiving $1.85 billion during his career.
Earnings from Michael Jordan’s Endorsement
Michael Jordan’s present money is largely derived from endorsements. Over the course of four decades, he has made $1.7 billion (pre-tax) from companies such as Nike, Coca-Cola, McDonald’s, Wheaties, Chevrolet, and others, and he is currently working with companies such as Nike, Hanes, Gatorade, and Upper Deck.
Jordan’s primary source of revenue has always been Nike. His initial five-year Nike contract, signed in 1984, was paid $500,000 per year (about $1.2 million in today’s values), plus royalties. According to Forbes, his salary last year (included in the sum above) was $130 million, four times that of LeBron James, who owns the NBA’s second-largest shoe contract.
Investments of Michael Jordan
Michael Jordan is a savvy investor who has participated in fundraising rounds for Sportradar, a Swiss-based sports data provider, Muzik, a headphone brand, Gigster, a San Francisco-based marketplace for freelance IT talent and aXiomatic. Jordan joined fellow NBA Hall of Famer Magic Johnson as an investor in aXiomatic, the parent business of esports team Team Liquid, which was reportedly valued at $320 million, in 2018.
Other sources of income for Michael Jordan
Michael Jordan understands the importance of having several sources of income. Aside from his significant interests in the Hornets and the Jordan Brand, MJ was a member of the investor group that purchased the Miami Marlins of Major League Baseball for $1.2 billion in 2017. Derek Jeter, a longtime Jordan friend, is the club’s CEO and owns 4% of the franchise, while Jordan owns 1%.
Jordan also has a car dealership and is maybe a partner in Cornerstone Restaurant Group, which operates five Jordan-branded restaurants.
Properties of Michael Jordan
Michael Jordan has five homes around the United States. He has two houses in North Carolina, where he owns the Charlotte Hornets, and one in Jupiter, Florida. The other two are presently available for purchase in Illinois and Utah.
Jordan has a property in the Highland Park neighborhood of Chicago, Illinois. The large home space is around 32,000 square feet, but with outside areas such as a pool and a court, the total property area is 56,000 square feet. The mansion is presently on the market for $14.8 million. It contains nine bedrooms and nineteen bathrooms. Since 2012, the house has been on the market.
Jordan also purchased a home on a golf course in Jupiter, Florida, for $4.8 million in 2013 and spent $7.6 million refurbishing it.
Michael Jordan has a lakeside house in Cornelius, North Carolina, which he purchased in 2013 for $2.8 million. The mansion has six bedrooms and is located on the Peninsula golf course, which is part of a premium country club. It’s 22 miles from the Hornets’ home stadium.
Jordan also has a home in Charlotte, North Carolina. The whole 7th level of the opulent Trust Condos, measuring about 7,000 square feet.