Over the years, Hall of Famer Michael Jordan has become an incredibly profitable businessman away from the game of basketball. A significant chunk of that has come from his dealings with Nike as their most marketable professional athlete over the last few decades. Jordan is not only recognized as being the gold standard for NBA players, but his success off the court has been one that many of his peers aspire to garner.
Michael Jordan’s net worth
Jordan put together an incredible career that spanned 15 seasons with him earning much recognition as being arguably the greatest player in NBA history.
However, his success has far exceeded what he accomplished on any basketball court. Jordan has taken full advantage of his worldwide brand that has led to tremendous financial profit well past his playing days.
He has become the first professional athlete to earn a net worth beyond $1 billion, and that number has skyrocketed past $2.1 billion. Jordan has become a savvy businessman over the years that has seen him earn many endorsement deals that continued to fuel his evergrowing bankroll.
That has helped become the majority owner of the Charlotte Hornets in 2010 with a reported value of $275 million. That has seen the team’s net worth currently reach $1.5 billion, which is north of five times what the value was when he bought the team a decade ago.
A massive part of his financial success has been linked to his partnership with Nike, which has seen him reach an incredible feat.
Michael Jordan has earned north of $1 billion from Nike
In the years that have followed his final retirement from the NBA, Jordan has seen his brand grow tremendously.
That has seen him continue to make substantial financial gains from his endorsement deal with Nike. According to Kurt Badenhausen of Forbes, Jordan has made roughly $1.3 billion from working with the company since his first contract back in 1984.
Nike has always been Jordan’s biggest backer, both financially and marketing-wise. The sportswear giant has paid him an estimated $1.3 billion by Forbes’ count since it signed its first deal with Jordan in 1984, and it has helped make him a cultural icon. It is the richest athlete endorsement deal ever but also arguably the biggest bargain given that Jordan helped transform Nike from a scrappy underdog into one of the largest, most valuable consumer brands in the world.
That shouldn’t come as much of a surprise as it was reported last year that he made $130 million from Nike in 2019, which was four times more than what LeBron James made. Jordan is the most recognizable face that the company has with his global brand that made them the most prominent sports apparel business.
It’s an incredible difference from what he made in his first deal with Nike on a five-year contract that saw him earn $500,000 annually. That all speaks to Jordan’s impact as he has played a pivotal spot in helping the company become what it has transformed into today.
Michael Jordan has become the blueprint
Beyond his immense riches, Jordan has become what other professional athletes, both current and former, have aspired to reach that success.
He has made the most of his popularity by turning that into incredible profit that will continue to grow with each passing year. The success the company has had with him leading their marketing has paved the way for many other professional athletes to earn huge endorsement deals over the years.
Jordan’s impact far outreaches any basketball court as he’s forever changed the sports world by providing endless inspiration along with a blueprint on how to become a savvy businessperson well into retirement.