Michael Jordan’s Net Worth Continues to Improve As His Charlotte Hornets Shares Skyrocket
Known in many sporting circles as “Air Jordan”, big Mike is probably one of the most well-known sportsmen in the world. Anyone who has heard of the NBA must know a little about Michael Jordan and his successes with the Chicago Bulls. Not only is the ex-basketballer an iconic name in the sporting world, but he’s also the richest man to have ever been involved in the sporting industry. That’s right, Michael Jordan’s Net Worth even trumps the likes of Tiger Woods, who comes in a little lower down the ranks.
Other NBA stars like LeBron James, Magic Johnson, and Shaquille O’Neal have all done well for themselves but have not even mustered cloMichealse to Michael Jordon’s net worth, collectively. Let’s take a closer look at the net worth of Jordan in a little more detail.
What is Michael Jordan’s Net Worth?
Michael Jordan has joined the ranks of the billionaires of the world with a net worth of around $2.1 billion. While a bit of that has been earned in basketball wages and massive endorsement deals, his Net Worth has significantly grown thanks to the increasing value of the Charlotte Hornets, in which he owns a massive stake.
Many folks think that sportsmen make most of their money playing the game. In actual fact, it is usually only their second or third highest income streams. Of Michael Jordan’s net worth of over $ 2 billion, only just under $100 million of it was made from his salary at the Chicago Bulls and Washington Wizards. This is nothing in comparison to what today’s basketballers will earn over a 13-year playing stint. Yet, few ballers are likely to attain the heights of Michael Jordan’s net worth in their lifetime. So, where does the big money come from?
While basketball made Jordan a household name, it was his endorsement deals and sponsorships that made him super-wealthy. Nike has been his biggest backer since day one. His signature Air Jordan Nike shoes were turned into a standalone endeavor that is now worth multiple billions of dollars, alone.
Of course, the shoe company has not been the only big business to use Mike’s name and face to advertise their products. He signed up great sponsorship deals with Coca-Cola, Gatorade, McDonald’s, Chevrolet, Wheaties, Upper Deck, Hanes, and a few others over the years. Each deal has netted Mr. Air Jordan multiple millions in revenues.
Shares and Equity
The biggest contributor to Michael Jordan’s billionaire net worth has been his ownership of the Charlotte Hornets. He purchased a minority stake in the NBA team in the mid-2000s when they were still known as the Charlotte Bobcats. Then in 2010, he bought controlling shares in the sports team for $175 million, raising his stake to 90%.
The team’s value grew tremendously in the following few years and Jordan agreed to sell 20% of the Hornet’s equity to Gabe Plotkin and Daniel Sundheim for a staggering sum of $1.5 billion. Jordan has a series of other profitable investments.
These include shares in:
- The Miami Marlins Baseball Team
- Cornerstone Restaurant Group (5x Jordan-Branded Restaurants).
- Cincoro Tequila
- 23XI Racing (NASCAR auto-racing)
These are just some of the more well-known investments the billionaire owns. There is no telling where else he has pockets of money tucked away that reap him revenues.
Of course, Michael Jordon’s net worth is not only tied up in stocks but in wealthy assets, too. His real estate portfolio is impressive. His Illinois mansion is worth around $29 million dollars, though he had to slash its price to around $14 million just to try and offload it. It’s a nine-bedroom home boasting over 52,000 square feet of total living space and 7.4 acres of ground. The home has been on the market for 10 years with no takers.
Michael Jordon also owns a home in Jupiter, Florida. He purchased it for $12.4 million. It sits on 3 acres and has 11 bedrooms with 28,000 square feet of living space.
Other properties include:
- $3 million penthouse condominium in Charlotte, NC.
- $2.8 million 12,300 square foot home in Cornelius, NC.
His Life Has Been One Slam Dunk after the Next
From the moment Jordan was drafted, he’s scored one slam dunk after the next. His success on the court has been echoed in the business world too. It’s very rare to find sports stars as wealthy as this astute businessman.
Of course, a lot of risks and a bit of luck have certainly played a considerable part in his after-game successes. As Jordan has shown, people become rich because they are willing to take a different approach to life and adopt a winning mindset.