Michael Jordan’s basketball career is the stuff of legend! Debuting as a center on the Midwestern NBA team, Chicago Bulls, Jordan quickly dominated the sport, averaging an impressive 28.2 ppg on 51.5% shooting during his rookie season. By the time he retired for the third and final time in 2003, the father of five had gone from being dubbed “the phenomenal rookie of the Bulls” to “the greatest basketball player of all time”.
Apart from making him an absolute favorite among basketball fans across the world, Michael Jordan’s excellence on the court also made him a pretty wealthy man. By the second decade of his career, Jordan's yearly earnings had grown to over $3.8 million, making him the highest paid athlete in the NBA. What might surprise many is that, despite pulling in massive paychecks for most of his career, playing basketball accounts for very little of Jordan’s current massive net worth. Read on to find out exactly how the NBA legend managed to surpass his impressive NBA career in terms of earnings.
Michael Jordan Had An Impressive NBA Career
Known to fans around the world for performing the incredible court stunts that earned him the nickname “Air Jordan,” Michael Jordan is widely regarded as the greatest basketball player of all time. Bursting into the scene as a center on the legendary Chicago Bulls, Jordan achieved NBA superstar status by the first decade of his career, leading the Chicago Bulls to six NBA championships and earning countless accolades along the way.
Jordan’s decades-long career was practically littered with commendable achievements. The now 60-year-old NBA legend boasts of, among other accolades, six NBA Finals MVP awards, nine All-Defensive First Team honors, three NBA steals titles, and two Olympic gold medals.
Though the father of five retired from the NBA over two decades ago, his prowess on the court has remained unmatched, as he still holds the NBA records for career scoring average, career playoff scoring average, and career regular season scoring average; an impressive achievement for an athlete whose NBA days have long retreated to the rearview.
How Much Of Michael Jordan’s Wealth Came From Playing Basketball?
Michael Jordan’s excellence on the court paid off tremendously. By 1995, Jordan had become the highest paid NBA player of the 1990s. Owing to consistently proving himself indispensable to the Bulls, Jordan became the first ever NBA player to sign a contract worth more than $20 million, signing two one-year contracts worth more than $30 million with the Bulls. According to Celebrity Net Worth, Jordan's entire NBA career made him about $93 million; a rare and commendable achievement for the 1990s.
Jordan's earnings go up significantly when one considers that his contracts with the Chicago Bulls were not his only moneymaker during his NBA days. During his rookie years, Jordan signed a $2.5 million contract with the footwear mega brand Nike; a move that spawned his revered signature shoe collection, the Air Jordan. With the launch of the Air Jordan 1, Nike brought in a whopping $126 million in sales revenue, despite only anticipating a measly $3 million.
That said, Jordan’s earnings from the NBA and celebrity endorsements during this time only account for a small fraction of his net worth. By the time he retired from the NBA in 2003, Jordan’s net worth had only risen to a little under $500 million; a number that pales in comparison to his current $ 2.2 billion net worth.
How Does Michael Jordan Make His Money?
At $2.2 billion, Michael Jordan is easily the wealthiest athlete on the face of the planet, but just how does he make his money? As it turns out, the NBA superstar’s massive net worth came almost entirely from his brand value.
Jordan has partnered with multiple brands, including Nike, Coca-Cola, Getorade, Rayovac, Hanes, and Chevrolet; all of which have paid him massive checks for endorsements. According to Celebrity Net Worth, the father of five has made an impressive $1.4 billion from celebrity endorsements alone to-date. Jordan’s annual income has also soared due to endorsement deals, which reportedly earn him a staggering $100 million each year.
Jordan’s business savvy is also a major reason why he’s accumulated such an eye-watering net worth. The father of five has invested in multiple business ventures, including the sports betting company, DraftKings, and the tech startup, Gigster. Jordan has also ventured into filmmaking, accruing an impressive $4 million from his documentary, The Last Dance, all of which he donated to charity.
Jordan is also a proprietor of several businesses, including multiple restaurants, a Nissan dealership, and a tequila business. However, it’s his majority stake in the NBA Team, the Charlotte Hornets, currently valued at about $1.7 billion, that’s gone a long way in inflating its net worth to its current $2.2 billion.
How Does Michael Jordan Spend His Money?
With a staggering $2.2 billion net worth, Michael Jordan can spend his money on pretty much anything. The father of five has gone above and beyond in this respect, imbuing his life with as much luxury as possible. Apart from several sprawling mansions, Michael Jordan has also spent his wealth on, among other things, a fleet of top-of-the-line sports cars, a private golf course, his very own private jet, a top-notch security team, and a luxury mega yacht named, Mr. Terrible.
Jordan has also spent a significant chunk of his massive fortune on charitable courses. Most recently, the father of five donated a record-breaking $10 million to the Make-A-Wish Foundation; a charity he’s been involved with since his NBA days. Jordan has also devoted his vast resources to championing for social justice, famously pledging to donate a staggering $100 million to organizations fighting for “racial equity, social justice, and greater access to education” back in 2020.
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