Let’s take a look at Michael Jordan’s net worth and his most lucrative businesses. The Goat is one of the richest people on earth
Many legendary athletes have made wise investments during their careers, but none have matched Michael Jordan’s business acumen. Jordan is the wealthiest of all sports figures, thanks to strategic decisions he began making in college. A key moment during his NBA career significantly boosted his wealth. This article explores Michael Jordan’s net worth and his most successful business ventures over the decades.
It all started with his Brand, that changed the game for everybody
As Michael Jordan prepared to enter the NBA, numerous shoe brands vied to have him as their ambassador. Adidas and Converse led the pack, but it was Nike that ultimately won him over. How did they succeed?
Nike offered Jordan his own shoe brand as a separate division, complete with his unique logo—a groundbreaking move that transformed him into a cultural icon. Today, the Jordan Brand generates an estimated $6.6 billion in annual sales for Nike.
Back in 1985, the brand was projected to make only $3 million in merchandise sales. However, within just two months, Jordan Brand had already achieved $70 million in sales, reaching nearly $100 million by the end of that year. This decision stands as the most pivotal business move of Michael Jordan’s career.
The Hornets and NASCAR
With the substantial income Michael Jordan earns from the Jordan Brand, he has been able to diversify his investments. He is a stakeholder in the sports betting company DraftKings, co-owner of the Cincoro tequila brand, and owner of three Michael Jordan’s Steak House locations.
Additionally, he co-owns a NASCAR team. One of his significant investments was in the NBA’s Charlotte Hornets. Jordan purchased the franchise, then known as the Charlotte Bobcats, for $275 million in 2010. In 2023, he sold his majority stake for an impressive $3 billion. According to Forbes, Michael Jordan’s net worth is estimated at $3 billion.
