How Much is Michael Jordan’s Net Worth?

How Much is Michael Jordan's Net Worth?
Wikimedia

What is Michael Jordan’s net worth in 2021?

The answer is simply a whole lot.

We’ll show you how much billionaire retired former NBA player and businessman is worth, plus how he makes and spends his money.

Michael Jordan is an American retired basketball player who devoted 15 seasons in the National Basketball Association (NBA), thrilling fans with his dynamic and unique play style.

During his 15 seasons in the NBA, Jordan, who started from his rookie season as a prolific figure, was determined for success.

Even the surge of attention young Jordan received in his rookie season wasn’t enough to derail the star from his path.

That ironclad determination established Jordan as the greatest basketball player ever with six NBA championship titles with the Chicago Bulls.

Michael Jordan’s Net Worth Profile

Net Worth:$1.6 Billion
Date of Birth:February 17, 1963
Age:58 years old
Nationality:American
Source of Wealth:Former NBA Player, Charlotte Hornets Owner, Businessman
Last Update:2021

How Much is Michael Jordan’s Net Worth & Where Does it Come From?

As of 2021, Michael Jordan’s net worth is estimated to be $1.6 billion.

For a man whose career earnings in the NBA is less than $100 million, his wealth is astounding.

He is the first basketball player who ever became a billionaire and the fourth richest African American.

As of May 2020, Jordan was ranked #1,001 on the Forbes world’s billionaires‘ list.

Jordan’s wealth received a boost when he first achieved billionaire status in June 2014, when his stake in the NBA franchise, Charlotte Hornets, shot up to 80%.

Jordan is currently the principal owner of Charlotte Hornets.

His business dealings extend vastly into other sports aside from basketball, such as baseball.

Jordan is a part-owner of MLB franchise, Miami Marlins.

He also has business dealings in the automotive industry, with a company that bears his name and owns a car dealership with automobile giant Nissan.

Jordan also owns a restaurant Michael Jordan’s Steakhouse in Chicago.

He has written several books such as his 1998 For the Love of the Game: My Story and 2005 Driven from Within.

Jordan is a highly sought after sports personality.

According to a CNN report, Jordan’s agent revealed he once turned down $100 million for a two-hour appearance at an event.

NBA Career Earnings

Michael Jordan's NBA Career with the Chicago Bulls
Wikimedia

Michael Jordan earned an approximated $93.2 million in salaries throughout his basketball career in the NBA, playing for the Chicago Bulls and Washington Wizards.

Jordan received more than $60 million of that total sum from his last two seasons with the Bulls.

As revealed on the 1997-98 Chicago Bulls’ roster, Jordan earned $33.14 million during “The Last Dance, which was his final year with the Bulls.

However, Several pundits believe Jordan was grossly underpaid considering his prime performance and value to the Chicago Bulls.

Endorsements & Sponsorships

Now retired and away from the basketball scene as a player, he holds no active endorsements and sponsorships, except his signature Nike Jordan shoe “Air Jordan.”

However, during his days as a basketball player, Jordan had a very lucrative endorsement deal with top brands, famous of which was Nike.

Jordan also endorsed brands such as McDonald’s, Coca-Cola, Chevrolet, Wheaties, and many others.

According to reports, Jordan earned around $1.8 billion in pre-tax earnings from corporate partners.

Michael Jordan Shoe (Air Jordan)

In 1984, Nike released the Air Jordan shoe, a signature shoe with Jordan’s endorsement.

The shoe sale has seen rapid success, and since its release, constant follow-up models that meet ever-changing fashion styles have seen the brand continue to experience market success.

Wholesales revenue from the shoe is reportedly as much as $3.14 billion as of May 2019.

Jordan thus receives as much as $130 million annually from the Air Jordan deal with Nike.

How Does Michael Jordan Spend His Money?

Houses & Real Estate

Michael Jordan owns a mansion in Chicago which covers 56,000 square foot.

The edifice has 15 bathrooms, nine bedrooms, four half-bathrooms, and a garage capable of sheltering 14 luxury cars.

The home has an aquarium, a game room, a cigar room, a library, and a gym room.

Since 2012, Jordan has sought to sell the home, but buyers have not been forthcoming.

The house has a high property tax, and since he decided to sell the house, Jordan has paid about $700,000 in tax.

The real estate, which was first listed for $29 million, was reduced to $21 million, but still, buyers weren’t coming.

Even after Jordan revealed that the buyer would receive every edition of the luxury Jordan shoe in his size, Jordan still didn’t get a buyer.

Jordan also has another home in North Carolina, a lakefront mansion worth $2.8 million.

Private Jet

Michael Jordan's Private Jet
YouTube

For a man like Jordan, owning a private jet is a walk in the pack with his level of fortune.

Jordan is the classy owner of a Gulfstream IV jet valued at $50 million.

Cars Collection

Jordan’s line of luxury cars includes the Aston Martin Volante DB9, Porsche 911, Ferrari 599 Fiorano GTB, Mercedes-Benz SLR Mclaren 722 Edition, Aston Martin Volante DB7, Ferrari TR 512, and several more.

Yacht

Jordan owns a mega yacht, dubbed, Mr Terrible.

Golf

Michael Jordan on a Golf Course
Michael Jordan on a Golf Course. Wikimedia

Jordan’s love for the game of golf is one that puts a dent to his fortune.

According to reports, Jordan decided to build his own super-private golf course in Florida.

Want to know the reason why?

Because he was tired of waiting too long for his turn due to the pace of play at his former club.

The golf course named the Grove XXIII was opened in 2019.

Charity & Philanthropy

With so much money comes more responsibilities, and Jordan has been giving back through charity and philanthropic efforts.

Some of the recipients over the years include the Habitat for Humanity, Boys & Girls Clubs of America, Make-A-Wish Foundation, several Chicago charities, the NAACP Legal Defence Fund, relief efforts for Hurricane Florence and Hurricane Dorian, American Red Cross, Friends of the Children, the Institute for Community-Police Relations and many more.

Jordan in 2017 funded two of Novant Health Michael Jordan Family Clinics in Charlotte.

In 2020, following protests after George Floyd’s killing, Jordan announced that he would donate $100 million to organizations dedicated to justice and racial equality.

In November 2020, Jordan donated $2 million ‘The Last Dance’ documentary earnings to food banks in Chicago and Carolina.

Security

Jordan never travels overseas without his security team, which costs him between $1,000 to $2,000 per hour.

We think it’s for a good reason.

According to reports, Jordan’s codename is “Yahweh,” which is Hebrew for “God.”

Final Thoughts

Michael Jordan’s net worth makes him the richest NBA player of all time, and he has plenty of money to do whatever he pleases.

He lives the life of a superstar, but the journey to that sort of lifestyle was not an easy path for him.

Aside from being a six-time NBA Champion, Jordan has won countless of other awards, including the Presidential Medal of Freedom by President Barack Obama in 2016.

Jordan’s rise to fame and success didn’t come without his ironclad determination, hard work, and focus.

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