Is Michael Jordan the richest player in 2023 with his staggering $3.5B net worth? It’s a question that has been floating around, especially since he became the first ever professional athlete to hit the Forbes 400 list.
This blog dives into Jordan’s phenomenal wealth journey, from his lucrative NBA contracts and endorsement deals to his successful business ventures post-retirement. Stay tuned as we explore how Airness ascended to billionaire status and if indeed he is basketball’s wealthiest player in history.
Michael Jordan’s Net Worth of $3. 5B in 2023
Michael Jordan, the basketball legend, has amassed a staggering net worth of $3.5 billion in 2023.
The first professional athlete to make it on Forbes 400 list
Michael Jordan made history beyond the basketball court. He is the first pro athlete on the Forbes 400 list. His worth is around $3 billion. This comes from his play in 15 NBA seasons and smart deals off the court.
In fact, these deals gave him about $2.4 billion! Now in 2023, his estimated net worth grew to a big $3.5 billion! This makes him not just a star player but also a top-ranked billionaire.
Sold Charlotte Hornets for a record-breaking $3 billion
In August, Michael Jordan made a big move. He sold the Charlotte Hornets for a huge $3 billion. This is the second-most any team has sold for in NBA history.
This sale added to Jordan’s wealth in a big way. Even if he had sold the team for less, at its 2022 value of $1.7 billion, he would still have made lots of money. But selling it for $3 billion was an amazing win.
Owning and then selling this team was one of his three major wins so far. His victories as a basketball player and the growth of his Nike Air Jordan brand were his other two big wins.
His net worth grew bigger with each success story. Now he is worth about $3 billion! This comes not just from owning teams and playing ball, but also from deals to promote brands.
Other investments contributing to his net worth
Jordan’s wealth is not just from basketball. He has smartly grown his money. Some ways include:
- Jordan got big money from endorsements. Brands like McDonald’s, Gatorade, and Hanes paid him well. His deal with Nike was the best. It gave him $2.4 billion in total.
- His biggest check every year comes from Nike too. They pay him a royalty of around $260 million yearly.
- Jordan sold his Charlotte Hornets stake for a high price. He got about $3 billion for it.
- He owns parts of companies like CLEAR and Dapper Labs.
- Jordan also put money into Mythical Games, DraftKings, and Sportradar.
Michael Jordan’s Early Career and NBA Earnings
Michael Jordan’s early career in basketball propelled him to become an NBA legend, earning him a significant fortune along the way.
His journey to becoming a basketball legend
Michael Jordan’s journey to becoming a basketball legend is an inspiring tale of hard work and determination. He started playing basketball at a young age and quickly proved himself as a talented player.
Through his high school and college years, he honed his skills and caught the attention of NBA scouts. In 1984, he was drafted by the Chicago Bulls as the third overall pick. From there, Jordan’s career took off.
He became known for his incredible athleticism, scoring ability, and competitive spirit. Over the course of his 15 seasons in the NBA, Jordan won six championships with the Bulls and earned numerous accolades including five MVP awards.
Breakdown of his career earnings
Michael Jordan’s earnings throughout his career can be categorized into several sections including his NBA career earnings, endorsements, and business ventures. Below is a breakdown of the earnings:
|NBA Salary||$94 Million|
|Endorsements||Approximately $2.4 Billion|
|Nike Royalties||Approximately $260 Million/year|
|Sale of Charlotte Hornets stake||$3 Billion|
Jordan’s NBA career, spanning 15 seasons, saw him earn a total of $94 million. He was noted as the highest-paid player in 1997 and 1998. A significant portion of his wealth, however, came off the court, primarily through endorsement deals. He earned roughly $2.4 billion from endorsements alone, collaborating with big-name brands such as McDonald’s, Gatorade, Hanes, and especially Nike. His Nike partnership proved to be a gold mine, with his most recent yearly royalty check amounting to around $260 million. Furthermore, the sale of his majority stake in the Charlotte Hornets in August significantly boosted his net worth. The sale was valued at $3 billion, marking the second-highest sale price in NBA history. Even if the team had been sold at Forbes’ 2022 valuation of $1.7 billion, Jordan would have still made a considerable financial profit.
Businesses and Investments
Michael Jordan’s business ventures have played a significant role in his impressive net worth, with his partnership with Nike and the success of Jordan Brand being particularly noteworthy.
Nike and Jordan Brand
Nike and Jordan Brand are major players in the sportswear industry and have played a significant role in Michael Jordan’s financial success. The two brands earn an estimated $6.6 billion in annual wholesale revenue, with Jordan receiving yearly royalties of around $260 million from Nike alone.
In fact, the Jordan Brand reported a 28.6% increase in annual wholesale revenue from the previous year, highlighting its continued growth and popularity. These business ventures, along with other successful investments like DraftKings and Cincoro Tequila, contribute to Michael Jordan’s impressive net worth of $3.5 billion in 2023.
Other successful investments such as DraftKings and Cincoro Tequila
Michael Jordan has made other successful investments that have contributed to his impressive net worth. These include:
- DraftKings: Michael Jordan owns an undisclosed equity stake in DraftKings, an online gaming platform for sports betting and daily fantasy sports.
- Cincoro Tequila: Jordan is also involved in the alcoholic beverage industry through his investment in Cincoro Tequila, a premium tequila brand.
- CLEAR: He has invested in CLEAR, a technology company that focuses on identity verification and expedited security screening at airports and stadiums.
- Mythical Games: Jordan has made investments in Mythical Games, a company that combines blockchain technology with video games to create digital collectibles and unique gaming experiences.
- Dapper Labs: Another investment of Jordan’s is Dapper Labs, a blockchain company known for creating the popular NBA Top Shot digital collectibles platform.
NASCAR and Michael Jordan’s Steak House
Michael Jordan has always had a passion for sports, and he expanded his business ventures to include NASCAR. In 2020, he co-founded the Cup Series team called 23XI Racing. This move allowed him to combine his love for racing with his successful career in basketball.
Additionally, Jordan’s entrepreneurial spirit led him to open Michael Jordan’s Steak House, adding another dimension to his growing business empire. With these new ventures, it is clear that Michael Jordan is not only an incredible athlete but also a savvy businessman who continues to diversify his investments and explore opportunities beyond the NBA court.
The Forbes 400 and Richest Newcomers
Michael Jordan’s ranking on the Forbes 400 list and other successful newcomers will leave you amazed. Dive into the world of wealth and success in the world of sports by reading on.
Jordan’s ranking on the Forbes 400 list
Michael Jordan is ranked among America’s wealthiest individuals on The Forbes 400 list. His estimated net worth of $3 billion makes him one of the richest people in America. In fact, in 2023, his net worth is estimated to be even higher at $3.5 billion, solidifying his position as the richest basketball player in history.
This remarkable achievement showcases the incredible wealth he has accumulated throughout his career and various investments.
Other successful individuals on the list
The Forbes 400 list is not just about Michael Jordan. It includes many successful individuals who have amassed considerable wealth in their respective fields. Here are some of the other noteworthy figures on the list.
|Name||Profession/Field||Net Worth in 2023|
|Jeff Bezos||Amazon Founder||$200 billion|
|Elon Musk||Tesla CEO & SpaceX Founder||$196.2 billion|
|Bill Gates||Microsoft Co-founder||$130 billion|
|Mark Zuckerberg||Facebook CEO||$121 billion|
|Warren Buffet||CEO of Berkshire Hathaway||$110.5 billion|
These individuals represent a diverse range of industries, including technology, finance, and commerce. Their presence on the Forbes 400 list emphasizes the vast economic power wielded by the ultra-wealthy in America. Jordan’s inclusion in this list, as the first professional athlete, represents the potential for athletes to excel beyond sport, leveraging their fame and brand power into viable business ventures.
Potential for future wealth growth
Athletes, like Michael Jordan, have a great potential for future wealth growth. With increasing salaries in sports and more off-the-field opportunities, it’s likely that more athletes will join the billionaire club in the coming years.
For example, Jordan’s ownership of the Charlotte Hornets has been a major success, even though the team hasn’t always performed well on the court. Despite this, their value has rapidly appreciated over time.
Additionally, Jordan Brand, under Nike’s umbrella, reported $6.6 billion in annual wholesale revenue recently – indicating potential for future wealth growth. These factors suggest that athletes have various avenues to increase their wealth and establish themselves as billionaires while they are still active in their careers.
Michael Jordan is undeniably one of the richest players in 2023. With a net worth of $3 billion, he has made his mark on The Forbes 400 list as one of America’s wealthiest individuals.
Throughout his NBA career, Jordan earned a staggering $94 million, but it’s his endorsement deals that have truly skyrocketed his wealth. From McDonald’s and Gatorade to Hanes and Nike, these endorsements alone have brought him an estimated $2.4 billion.
Furthermore, with annual royalty checks from Nike reaching around $260 million, it’s clear that Michael Jordan is not only an iconic basketball player but also a savvy businessman who continues to increase his riches year after year.