Michael Jordan’s net worth is sky-high!
The former professional basketball player turned businessman is making headlines for becoming one of the 400 wealthiest people in America, according to Forbes. The NBA legend’s addition to the list is making history since he’s the first professional athlete to reach this level of wealth in the country. Jordan is number 379 on the Forbes 400 list after selling his majority stake in the Charlotte Hornets earlier this year.
Forbes estimates that Jordan’s net worth is $3 billion. He became a billionaire in 2015, partly due to his endorsement deal with Nike, but also because of his deals with Hanes, Gatorade, and McDonald’s. During his basketball career, he earned $94 million and became the highest-paid player in the league in 1997 and 1998.
One of his most lucrative business endeavors has been his relationship with Nike. He signed to the athletic brand in 1984. And the deal has been so successful that Nike established the Jordan Brand in 1997. The Jordan Brand reportedly earns an annual revenue of more than $5 billion and has raked in $19.4 billion in revenue over the last five fiscal years, Front Office Sports reports.
“Michael’s one of the few people that have had success three times,” said Ted Leonsis, the Washington Wizards, Mystics, and Capitals owner, who has partnered with Jordan in the past. “A lot of entrepreneurs, they make it once. They have a big win, take their winnings, retire, and [we] never hear from them again, or they try something a second time and it doesn’t work. He’s had three mega successes.,” with Leonsis referring to the sports legend’s legacy as a player, owner, namesake of the Air Jordan brand at Nike.