Wondering how much is Michael Jordan’s Worth? Well, check out further to find out Michael Jordan’s net worth, career highlights, charity work and a lot more below.
Fondly called by his initials as MJ, Michael Jeffrey Jordan is a professional basketball player from America born on February 17, 1963.
How Much is Michael Jordan Worth?
Michael Jordan is one of the most famous professional basketball players in history. His current net worth is $1.6 billion in September 2021.
He is also the owner of the Charlotte Hornets of the NBA (National Basketball Association) and the 23XI Racing in the NASCAR Cup Series. Playing 15 seasons in the NBA, Michael Jordan won six championships for the Chicago Bulls.
A statement about him published on the NBA website reads, “By acclamation, Michael Jordan is the greatest basketball player of all time.”
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During the 1980s and 1990s, Michael Jordan was instrumental in making the NBA a globally popular organisation. In this mammoth process, he became a cultural icon in the world.
Net Worth Of Michael Jordan
Michael Jordan’s estimated net worth in 2021 is $1.6 billion. In 2020, Michael Jordan has a net worth of $2.2 billion, which was impacted due to the loss of income from the NBA season during the pandemic times.
Jordan has earned this huge wealth through his salaries, endorsement deals signed with some top companies of the US and a number of profitable investments.
Throughout his career, he earned $93.7 million as salary from the NBA. Notably, he was the first ever athlete to earn more than $30 million in a single year from salary, which he achieved during the 1996-1997 season. During this season, his base salary was $30.14 million.
In the season that followed, Michael Jordan made $33.14 million. Notably, as of today’s value, this figure will equal a sum of $53.4 million taking inflation into account.
Jordan has earned around $1.4 billion through endorsement deals. The total amount he would have earned from the NBA could be $93 million. The cost of the divorce settlement Jordan had to bear for his first wife was $170 million.
One of the best career investments Jordan made in his life was owning the stakes in the Charlotte Hornets. In 2010, he bought a major stake in the team paying $175 million.
In 2019, he sold a small portion of his stake to an investment firm and the worth of this transaction was around $1.5 billion. All these pluses and minuses have left Michael Jordan with a huge wealth, seeing him as one of the billionaire players in the world.
Michael Jordan’s Enormous Wealth
Regarded as the greatest basketball player of all times, Jordan has built a highly successful career around this sport. In fact, he enjoyed the most lucrative career that no other athletes were able to achieve in their lives. Michael Jordan retired in 2003.
Following his retirement, he has maintained his wealth and could multiply in several ways. While the earnings of Michael as salaries during his entire career was not more than $100 million. However, he turned a millionaire in 2014 and today he has a net worth of $2.1 billion despite having to bear the huge cost of a divorce.
You will be really surprised to know how wealthy Jordan is today. The Social Security Administration has estimated that in just two and a half days, Jordan could earn what an average American possessing a bachelor’s degree can earn in his lifetime.
As per SSA, an average American woman can earn around $1.3 million in her lifetime. According to a calculation published by the Bureau of Labor Statistics, Jordan earns around $48,328 per hour which a full time median worker in America will earn in a year.
In 2019, Jordan made around $34,246 in an hour. This is arrived at by considering the fact that Jordan’s net worth in 2019 and 2020 were $1.8 billion and $2.1 billion respectively. Therefore, Jordan’s average earnings per year comes to around $300 million.
Given this potential, buying a typical sized house in the US will comparatively cost only about $13 for Jordan considering the media house value in the US.
Jordan is so rich that when an average American spends $1, Jordan can afford to spend $21,582 in the same amount.
At $2.1 billion, the net worth of Jordan is much greater than Belize’s GDP. Through Nike royalties alone, Jordan is making around $100 million in a year.
Following his retirement, Jordan has signed up some lucrative sponsorship deals with firms like Hanes, Gatorade, and Upper Deck. In 2010, Jordan purchased the Charlotte Hornets paying $175 million and this move turned him a billionaire in 2014 when the value of the NBA franchise soared up.
The total earnings of Michael Jordan in his career was $1.85 billion which makes him the highest earning athlete of all time. In fact, Jordan makes more money than players including LeBron James, Stephen Curry, Kevin Durant just to name a few.
Michael Jordan’s Divorse is One of The Costliest Settlements in History
In September 1989, Michael Jordan married Juanita Vanoy. Both of them had three children in total from their marriage. Following 13 years of married life, Michael filed for a divorce to part with Juanita Jordan in 2002.
To end this marriage deal Jordan had to bear the cost of $168 million in divorce settlement. This is considered one of the biggest divorce settlements in history.
This settlement was done in terms of cash, some real estate ownership value transfers, and stocks. Jordan is now married to Yvette Prieto, a Cuban American model since April 2013. His second wife bore him two girl babies in April 2014, who are identical twins.
Jordan Lost Around $500 Million During the Covid-19 Pandemic
Just last year, Jordan made a history of being the richest athlete in the world with his huge $2.1 net worth. However, within a year as of March 2021, several statistics show that his wealth has slashed to $1.6 billion since he has lost about $500 million.
The most logical reason for this loss was due to NBA losing sales during the Covid-19 pandemic. As it impacted several other domains, Covid-19 had also affected the NBA. Franchises are doing poor during this year because a lot of fans are not attending the games.
Therefore most teams are losing a lot of income as they are unable to fill their arenas during this season. During every season, the Hornets generate around $240 million in revenue from fans. Since Jordan has lot a huge chunk of this money, his wealth is impacted as a result.
Top highlights of Michael Jordan’s Career and Earnings
Michael Jordan is the greatest basketball player of all time as acknowledged by the NBA. In fact, Jordan was instrumental in winning a world renowned popularity to the NBA. With the Chicago Bulls, he earned six titles in total.
While his total salaries were worth $90 million, Jordan made around $1.8 billion from his endorsements signed up with famed brands like Nike, Hanes and Gatorade.
An announcement in September 2020 said Michael Jordan would join DraftKings, the famous sports betting firm as a special advisor to its board. This announcement saw the value of the firm’s stocks soar up by 12% immediately.
During the second half of 2020, Jordan became the co-owner of the NASCAR team.
As the owner of Charlotte Hornets, Jordan agreed to sell a small part of the stake to an investment firm in 2019. This deal fetched him $1.5 billion.
The Worth of Michael’s Air Jordan Brand
None of the present NBA stars are able to match with the sneakers income that Jordan makes. In a year, Jordan earns $130 million from this segment alone.
This value is four times the estimated annual earnings of LeBron James who is in the second place of the earnings with an estimated $32 million earnings per year.
Jordan Brand fetched him a sum of around $3.1 billion through wholesale profits. Nike has also confirmed that the Jordan Brand made its first billion dollars worth profit during the first quarter alone.
Together, Nike and Jordan Brand present one of the best and the most lucrative partnerships in history in terms of bringing out retro models, evolving different color ways, and enhancing the visibility of their products with next generation players like hello, and Zion Williamson.
In this way, Jordan Brand is able to wield a clear dominance over the basketball market. It is also able to stretch much beyond the sports fashion and make huge profits.
The value of the initial contract Jordan signed with Nike in the year 1984 was $500,000 over the five year term. Such investments are deemed the smartest in the history Jordan could land on in his life that have in turn helped make himself a billionaire.
Michael Jordan’s Charity Works
Jordan has built his wealth through his active career in basketball, endorsements, investments and many other ways. Though Jordan has owned a number of lavish properties and a golf course, he has also donated a significant amount of his wealth to charitable causes.
He had donated around $2 million to food banks located in Chicago and Carolinas. He pledged to donate a sum of around $100 million over the next decade to a number of organisations to support some social causes like racial equity, social justice, and to enhance the access to education for the Black African community.
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