Michael Jordan Net Worth

Whether you know him by his initials, MJ, or as NBA legend Michael Jordan, this former basketball player is phenomenal. He has had a long-standing career in the National Basketball Association (NBA) and the Chicago Bulls. Jordan is also a famous businessman who has a biography like no other in the NBA. His achievements and accolades have made him one of the most famous basketball players in history. Moreover, the Jordan brand became the most marketed athlete after his retirement. Basketball legend Michael Jordan has a net worth of an estimated $2 billion and is by far the most talked about, and with good reason. 

Michael Jordan Early Life

Michael Jordan was born on 17 February 1963 in Brooklyn, New York City. His mother, Deloris, was a bank employee, and his father, James R. Jordan, was an equipment supervisor. In 1968, his family moved to North Carolina, where he attended high school at Emsley A. Laney High School. His athletic career started off when he played baseball, football, and basketball. The latter became his most revered passion. However, when he was in his sophomore year, he was deemed too short when he tried out for the varsity basketball team. This motivated him to prove his worth, and he became the star of the junior varsity team, like Laney’s. Fortunately, he grew a few inches tall and trained hard to earn a spot on the varsity roster.

Basketball Career

Former NBA star Jordan’s major turning point in his career was when he was a freshman in 1982. In the NCAA Championship game in 1982, which was against Georgetown, Jordan made a winning jump shot. After that, he was selected as part of the NCAA All-American First Team while he was a sophomore and a junior. Due to his achievements, he entered the 1984 NBA team draft a year before he was scheduled to graduate from North Carolina, a first in NBA history. In his early NBA years, Michael Jordan was selected to play for the Chicago Bulls. Jordan’s NBA debut was at Chicago Stadium. During his rookie season, Michael Jordan became a fan favorite who went on to be on the cover of Sports Illustrated. In the same season, Jordan was also the All-Star starter. Even though NBA players like Isiah Thomas had a problem with Jordan’s rise to fame, this didn’t stop him from being voted as the NBA Rookie of the Year that year. In 1985, his crucial milestone in basketball was when he shattered the glass of a blackboard with a dunk during a Nike exhibition game in Trieste, Italy. The following season was the worst for Michael Jordan when he sustained an injury that caused him to miss a total of 64 games. When he recovered, Jordan’s career soared that season. Besides Wilt Chamberlain, Jordan was the only other player who made history by scoring 3000 points in one season. Michael Jordan went on to play record-breaking NBA seasons and went on to win his first league MVP Award in the 1987-88 season. Additionally, Michael Jordan was named NBA Defensive Player of the Year. Until 1993, Jordan was known as a force in the NBA. In 1993, Michael Jordan decided to retire from basketball after the murder of his father. But, he surprised everyone when he announced that he was signing a contract with Minor League Baseball. However, that dream was short-lived because he quit two years later and went back to the NBA. Michael Jordan has played for The Charlotte Bobcats, Washington Wizards, and against Magic Johnson and Scottie Pippen. The likes of LeBron James and Kevin Durant look up to basketball famer Michael Jordan. 

Michael Jordan Personal Life

In 1989, Jordan married Juanita Vanoy in Las Vegas. They had a daughter, Jasmine, and two sons, Jeffrey and Marcus. In 2002, the pair filed for divorce due to irreconcilable differences but tried to reconcile, only to finalize their divorce in 2006. 

Michael Jordan Net Worth

Michael Jordan’s net worth has grown tremendously since it was estimated at $500 million in 2009. Currently, Michael Jordan’s net worth is estimated at more than $2.1 billion. He was a billionaire in 2014 and made $1.6 billion in 2020. As part of his various investments, Michael Jordan has focused his attention on real estate. In 1995, Jordan completed a mansion that was constructed on a lot in Highland Park, Illinois. His other homes are in Jupiter Island, Florida, and North Carolina. With a fleet of luxury cars, Michael Jordan knows how to ride in style. His most astonishing choice of wheels is his private jet. It’s a customized Gulfstream IV that’s worth an estimated $50 million with a tail feature of his Air Jordan “Jumpman” logo. 

Nike Deal and Other Endorsements

Jordan and Nike have a long-standing relationship that dates back to 1984 when he signed an annual $500 000 shoe endorsement contract. This surpassed James Worthy, who was making $150 000 at that time. In addition, Jordan had several Nike stock options that would bring his total compensation to a whopping $7 million. The controversy around this deal was that the shoes were in violation of the NBA’s uniformity restrictions, which didn’t allow him to wear white sneakers. Nike had to pay all the fines and later turned the controversy into the biggest marketing ploy. This gave birth to the famous shoe brand, which managed to sell more than one million pairs within two months after it was launched. In its first year, Nike’s Jordan brand generated more than $100 million in revenue. Nowadays, the Air Jordan shoe makes approximately $2.5 billion in revenue. Furthermore, Michael Jordan pockets over $100 million annually from Nike royalties. Jordan also has a stake in the Charlotte Hornets. 

Endorsements

Corporate brands have always wanted to align with the Michael Jordan brand, ever since he made his debut in the NBA. Jordan has enjoyed impressive endorsement deals from brands such as Coca-Cola, McDonald’s, Chevrolet, and Gatorade, among many others. A 2015 lawsuit revealed that Michael Jordan would only sign endorsement deals that generate a minimum of $10 million, which is likely the reason for Michael Jordan’s net worth. 

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