Michael Jordan’s sale of the Charlotte Hornets reportedly took his net worth to around $3.5billion, making him the richest basketball player of all time.
The 60-year-old, who led the Chicago Bulls to six NBA titles and was a five-time MVP, recently relinquished his majority stake in the Hornets for $3bn.
Jordan sold control of the team to a consortium led by Gabe Plotkin and Rick Schnall but the Hornets said he has retained a minority stake in the NBA team.
According to Bloomberg, whose Billionaires Index is calculating Jordan’s fortune for the first time, MJ is believed to have kept less than 5 per cent of his stake after flogging 65 per cent.
Jordan, widely considered the greatest NBA player in history, has built a commerical empire since he signed a deal with Nike 1980s.
Copy link to paste in your message
Jordan (R) had been the owner of the Hornets since 2010, leading them to the playoffs twice
Top five richest NBA players of all time
1. Michael Jordan – $3.5billion
2. LeBron James – $1.5bn
3. Magic Johnson – $620m
4. Junior Bridgeman – $600m
5. Shaquille O’Neal – $400m
MJ was far from a household name back then. However, in the four decades since, he has grown to become arguably the most culturally significant sportsman of all time.
Jordan’s first deal with Nike, signed in 1984, was worth $2.5million over five years. Not long after, the first Air Jordan shoes came out.
By 2020, it was claimed that Jordan had made more than $1bn from his partnership with Nike, while Jordan reportedly earned $256million from Nike in 2022 alone.
Bloomberg report that company filings show that last year, Jordan Brand brought in $5.1bn in revenue – nearly 11 per cent of Nike’s total sales.
Other athletes have struck similar deals in recent times: Under Armour announced a long-term deal with NBA icon Steph Curry earlier this year which included shares worth $75million. LeBron James, meanwhile, has built a billion-dollar fortune through endorsements, investments and the SpringHill Co. – his video-production company.
Bloomberg puts LeBron’s fortune at around $1.5bn, while Magic Johnson is reportedly worth around $620m. Other estimates put Junior Bridgeman’s fortune at around $600m, with both Shaquille O’Neal and Vinnie Johnson said to have made $400m.
Copy link to paste in your message
Los Angeles icon LeBron James has built a billion-dollar fortune from his success in the NBA
Copy link to paste in your message
Under Armour announced a long-term deal with NBA icon Steph Curry earlier this year
The Billionaire Index estimates that MJ made 5 per cent on Air Jordan sales alongside endorsement deals and his NBA salary.
His career earnings from the Bulls and the Washington Wizards are estimated to have surpassed $90m.
Other endorsements included a 10-year, $13.5m deal with Gatorade and it has been claimed that Jordan made $15-20m annually from these deals during the prime of his career.
More recently, MJ launched Nascar’s 23XI Racing and became an investor and special adviser to DraftKings, a sports betting company. In 2010, Jordan bought a majority stake in the then-Charlotte Bobcats for $275million.
News
Will Smith Cries and ‘REGRETS’ ADMITTING to Handing Jaden Smith Over to Diddy His Freak-Offs (VIDEO) – daem
It’s true that Diddy received Jaden Smith from Will Smith because of his freakouts. Social media users are discussing the newest developments in the dramatic case…
Markle vs Markle! Mez will face what she has done as her sister reveals SHOCKING SECRETS about the terrifying conspiracy – daem
It’s Markle vs. Markle! Samantha Markle Accuses Meghan of Defamation to Cover Up ‘False Rags-to-Riches’ Narrative Meghan Markle’s half-sister, Samantha Markle, has accused the Duchess of Sussex…
NEW ERA: Louise finally appointed Duchess of Sussex – which means Meghan is KICKED OUT – daem
In a surprising turn of events, Buckingham Palace has announced that Lady Louise Windsor, the 25-year-old daughter of Prince Edward and Sophie, Countess of Wessex, will be…
Taylor and the ‘MIRACLE: She’s no longer alone between dances – daem
Taylor Swift and Travis Kelce were spotted enjoying a lively moment together at the 2024 US Open, where they joined in a spontaneous sing-along to The Darkness’s…
DON’T MISS: Explore Patrick Mahomes’ $2.9 Million Mansion – HE ALWAYS INVESTS IN THE BEST FOR HIS FAMILY – daem
When Patrick Mahomes signed his first long-term contract with the Kansas City Chiefs, he purchased a home that, with regard to superstar standards, was considered to be…
NFL approves Travis’ request, Taylor will sign with ‘KC Chiefs’ National Anthem – “Both Travis and Taylor are great young men — they seem very happy,” Goodell says – daem
Travis Kelce roυtiпely draws a crowd of reporters aпd cameras oп the so-called opeпiпg пight of the Sυper Bowl. Bυt this year is пext level for the…
End of content
No more pages to load