Reuters
Golf – The 2020 Ryder Cup – Whistling Straits, Sheboygan, Wisconsin, U.S. – September 25, 2021 Michael Jordan watches the action by the 11th green during the Four-balls REUTERS/Mike Segar
Reuters
Golf – The 2020 Ryder Cup – Whistling Straits, Sheboygan, Wisconsin, U.S. – September 25, 2021 Michael Jordan watches the action by the 11th green during the Four-balls REUTERS/Mike Segar
NBA legend Michael Jordan has done it again. His business savvy and strategic deals have yet again made him the master of the business world. Leaving Los Angeles Lakers icon LeBron James far behind, his Airness has become the richest basketball player in the history of the NBA. Well, it seems followers and fellow players would have to work harder to match the legend’s milestone.
The Hall of Famer made his name in the basketball world with his skills and talent. Not only on the court, but he also created history with the Nike deal as well. Creating an entire cult of sneaker lovers, he changed the way people saw basketball and sneakers too. However, his most recent business deal saw a rise in his fortune in just a few months. Let’s take a closer look at it.
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Michael Jordan becomes the wealthiest NBA player ever
Much has been said about Jordan’s recent sale of his most precious acquisition of the Charlotte Hornets, but above all, it became an essential step for the legend’s success.
This year, Jordan made a big decision to sell his majority stake in Charlotte Hornets. Alongside having a minority stake in the team, he agreed to a deal worth $3 billion. According to Bloomberg, his net worth has reached around $3.5 billion.
He became the richest player ever with his fortune eclipsing the wealth of LeBron James ($1.5 billion) and Magic Johnson ($ 620 million).
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DENVER, CO – FEBRUARY 12: LeBron James (23) of the Los Angeles Lakers licks his chops as the Lakers cruise to the finish line against the Denver Nuggets during overtime quarter of Los Angeles’ 120-116 win on Wednesday, February 12, 2020. (Photo by AAron Ontiveroz/MediaNews Group/The Denver Post via Getty Images)
But we cannot talk about his current net worth without delving into his massive deal with Nike.
Michael Jordan’s business deals
Back in 1984, MJ made around $2.5 million with his contract with Nike. He revolutionized the entire world of sneakers and is responsible for the massive global reach the NBA has in today’s world.
According to reports released in 2020, his Airness has earned more than $1 billion from his collaboration with Nike. And by the year 2022, he earned $256 million more. Last year, the Jordan brand earned $5.1 billion in revenue.
Moreover, his other strategic investment deals also played a significant role. While his own Jordan brand is already at the heights of success, it will interesting to watch who can beat the NBA legend.
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Written by
Edited by
Aayush Kapoor