Nike’s Air Jordan line is a huge cash cropper for the company and has generated incredible revenue over the years – so much so that in 2019, it was estimated to be worth 3 billion dollars. His Airness, more affectionately known as Michael Jordan, helped grow that sum by contributing around 1.3 billion dollars as of 2019.
Hands down the best basketball player that ever lived, Michael Jordan embarked on a legendary career during the 80’s and 90’s. He led his team to 6 NBA championships and a heap of other accolades as well. His relentless pursuit of greatness inspired generations of players to follow in his footsteps, destroying rivals’ hopes every time they stepped on the court. His greatness is still felt today as one can see from all of the bars named after him – each a shrine to his glory days because he embodied excellence like few others.
Before Michael Jordan signed the five-year deal with Nike in 1984, he had been sporting the rival brand Adidas. While the contract was a bolt out of the ballpark hit commercially and financially, it was more than just a pair of sneakers that made Jordan a bona fide star. By joining forces with Nike, Jordan became part of a larger brand that shared his values and reflected his ambitions to take over as basketball’s best – cementing himself as Team Nike’s poster boy like never before and ensuring that all eyes were now on him.
The table below contains basic information about Michael Jordan.
|Net Worth||Approx 2.2 Billion Dollars|
|Residence||2700 Point Drive, Highland Park, IL|
|Source of Wealth||Former NBA player, Charlotte Hornets team owner|
|Salary||Approx $130 Million|
|Endorsement||Nike, Hanes, Gatorade and Upper deck|
|Endorsement Earnings||130 Million dollars|
|Philanthropy||30 million dollars donated to activists projects|
How much is Michael Jordan’s net worth in 2022?
Jordan, a former basketball player for the Chicago Bulls, is just one of many examples of how athletes from sports like basketball and football make a lot of money. Jordan has been able to make his money over the years through several sources – he’s made a name for himself making massive investments in stocks through companies like Apple and Nike due to his partnerships with these large corporations that he worked with extensively as he rose to fame during his career as a professional athlete.
Forbes reports that as of March 2021 Michael Jordan has a net worth of $2.2 billion. Additionally Michael Jordan earns his wealth from multiple sources including, investment ventures, endorsement deals from U.S. based companies and sales in his personal apparel line, the Jordan brand.
Despite his accomplishments in the NBA, Jordan has not forgotten his main passion which is basketball. In 2001, he bought the Washington Wizards, having the sole intent on turning it around into a world class basketball team. The Wizards has since won multiple awards and became one of the strongest franchises in the league. In 2021, Michael Jordan reportedly earned $ 6 million due to the increase in sales of Paris Saint Germain’s jerseys after Lionel Messi signed with the club. One thing to note is that Paris Saint German jerseys are made by Jordan brand, which is owned by Nike.
Michael Jordan’s Endorsement Earnings
A majority of today’s wealthy NBA players have amassed their fortunes through endorsements. In over four decades, Michael Jordan became the highest-paid endorser of his time with contracts from brands like Nike, Coca-Cola, McDonald’s, Wheaties, and Chevrolet. He still continues freelance endorsement deals with other brands including Nike.
Nike has always dominated Jordan’s income. Nike’s first-ever five-year contract signed by Jordan in 1984 was worth $500,000 annually (that’s around $1.2 million dollars today). So it comes as no surprise to many that his take home last year (within this article) was read at $130 million. Apparently that would mean he earns nearly four times as much as the next NBA star’s earnings when it comes down to shoe deals which is currently worn by LeBron James who is ranked second on that list according to Forbes.
Nike released their latest line of Jordan Brand basketball shoes this September, and some of the current NBA players have started wearing them on the court. Their share of the U.S. basketball performance shoe market—which includes the Jordan Brand was 86% in 2019, according to market research firm NPD. With a 96% share of the broader lifestyle basketball category, they are definitely dominating this arena when it comes down to bringing new product lines out onto the playing field so to speak!
Micheal Jordan had taken control of the team in 2010, after a deal that valued the franchise at $175 million and which was largely funded through debt. Eventually he increased his holdings to 90%. He invested at exactly the right time, as once certain events had taken place his value multiplied in substance: 1) A new CBA that cut the players’ share of revenue down to 50% from 57%; 2) a Ballmer Bump that came about after former Microsoft CEO Steve Ballmer paid $2 billion for the NBA’s LA Clippers franchise, quite 3 times its previous outstanding price; and 3) a NBA TV deal with ESPN and TNT which tripled the worth of their previous accord. It is believed the founder sold 20% of the company to a New York-based hedge fund worth some $1.5 billion dollars in September 2020.
Michael Jordan’s other sources of Income
Michael Jordan is widely known for his talent on the basketball court, but did you know he’s also a successful business owner who has made a great deal of money outside of basketball? Did you know that Michael Jordan owns a car dealership in North Carolina and might also be a partner in a group that owns restaurants that are named after him? Pretty cool, right?
He founded the Jordan Restaurant Group and is building it into one of the most successful restaurant businesses in the country. He has also teamed up with Ron Burkle, owner of Yucaipa Companies and owner of 350 Del Taco restaurants and seven In-And-Out Burger franchises to acquire a stake in Five Guys Enterprises LLC (Five Guys), a national chain of 453 fast food franchises across America.
We’ve come to the closing stage of this informative article. We hope you were able to get reliable resources in your quest to know how much Michael Jordan earns with Nike!