Five years before becoming the first NBA billionaire, a video was released in which Michael Jordan was seen giving a pep talk to the youthful Tar Heels of the NCAA. Furthermore, during the conversation, Jordan first insulted the team for their choice of shoes. And then made a commitment worth thousands of dollars. But there was a condition.

Back in 2011, the young team from North Carolina was heading toward their bus when they encountered Michael Jordan. And Jordan immediately noticed their shoes and commented, “If I see you in them Kobe Bryants, man, I’m gonna cut you right off.” And went on to add, “I don’t care if your feet kill you, you’re gonna wear them Jordans.”

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Jordan had insulted them, but he went on to make a commitment. Jordan has promised to give the Tar Heels a rare Jordan Retro 11, Cool Grey if they win their two games in New Jersey and advance to the final four. Not just the shoes, but anything else they want. That was a great motivation for the team to perform at their best in the upcoming games.

Michael Jordan was announced as the first billionaire in the NBA in 2016

Michael Jordan became the first billionaire in the sports world in 2016, which was the most anticipated news in NBA history. Jordan now owns a fortune of $1.7 billion, despite earning just about $90 million throughout his NBA career. The majority of his net wealth is derived from his Jordan brand, his ownership of the Charlotte Hornets, and his other business ventures.

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Talking about his brand and endorsement with Nike. The Chicago Bulls legend earns 5% out of every single Jordan brand item sold. And it is estimated that Nike generates $15 million in Jordan Brand sales every single day. It adds up to $150 Million every year to Jordan’s wealth. On the other hand, Jordan’s ownership of the Charlotte Hornets added a huge chunk to his net worth.

Jordan made one of his brilliant investments by acquiring the majority of the Hornet’s ownership in 2010. When Jordan purchased the Hornets, their estimated worth was $275 million. And, as a result of international interest and the NBA’s tremendous growth, the Hornets are now worth $1.7 billion. Jordan made one of his brilliant investments.

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