Michael Jordan, widely considered the greatest basketball player of all time, is not only a legendary athlete but also the richest NBA star in history. According to Bloomberg, Jordan has a net worth of a staggering $3.5 billion. His wealth recently received a boost when he sold his majority stake in the Charlotte Hornets for $3 billion to Gabriel Plotkin, a hedge fund tycoon, and Rick Schnall, a private equity mogul.
The sale of the Hornets made Jordan the league’s first black owner, a significant milestone in his career. He originally purchased the team in 2010 for $275 million when they were known as the Bobcats. Bloomberg estimates that Jordan sold a 65% stake in the team and retained less than a 5% interest.
Aside from his ownership in the Hornets, Jordan’s impressive fortune comes from various sources. His Jordan Brand apparel licensing deal with Nike is a major contributor. Last year, Nike reported that the partnership with Jordan brought in $5.1 billion in revenue, accounting for 11% of the company’s total sales. As part of the deal, Jordan earns $500,000 per year, along with a 5% royalty on all Jordan Brand earnings. In 2022 alone, he earned $255.5 million from Nike.
Throughout his career, Jordan had endorsement deals with several companies such as Hanes, Gatorade, Chevrolet, McDonald’s, and more. These partnerships, some of which are still active after more than 30 years, played a significant role in making Jordan the first billionaire NBA player in 2014.
Jordan also has investments outside of basketball. He owns and operates Nascar’s 23XI Racing and acquired an equity stake in DraftKings in 2020. Additionally, Jordan owns luxurious properties, including a multimillion-dollar mansion in Jupiter, Florida, with a regulation-size basketball court featuring his iconic Jumpman logo, and a private jet valued at approximately $62 million, wrapped in a design inspired by his famous Air Jordan shoes.
As the wealthiest basketball player of all time, Jordan’s success on the court and in business has solidified his enduring legacy.
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