Michael Jordan remains one of the most successful basketball players in history, raking in hundreds of millions annually, decades after retirement. To millions of basketball fans, he’s the greatest player of all time, not just on the court, but in his ventures after his career. At the time of his third and final retirement in 2003, his career earnings had reached a total of $93.7 million.
In 1997, Jordan was the first athlete to earn a pay of $30 million per year. While he built a lucrative career as a basketball legend, a significant portion of his wealth comes from the partnership deal he signed with Nike to design and sell Air Jordans. The deal was made in the 1980s and has ushered him into becoming a billionaire with an impressive legacy.
To know what Michael Jordan earns yearly, we must first consider his sources of money, including the following.
- NBA Salary
- Sponsorship Deals
- Team Ownership
- Sport Betting and Auto Racing
Michael Jordan’s Earnings: NBA, Deals, and Businesses
Daymond John, FUBU founder and Shark Tank investor, said, “The easiest way to build wealth is to create multiple streams of income.’ Michael Jordan embodies this perfectly as a basketball legend and business icon.
His annual wealth comes from different sources, earning thousands of dollars by the minute and hundreds of thousands by the day. We break down the amount he makes and spends in the following headings.
NBA Income
Jordan retired in 2003 as one of the highest-earning basketball players of his time. The Hall of Famer earned $30.14 million in a single season, becoming the first player to do so in 1996 – 1997.
In the following year, he earned over $33.14 million as a player for the Chicago Bulls. At the end of his career, the NBA legend had made over $93.7 million in total. But this sum is only a small fraction of the icon’s net worth and what he earns yearly.
Sponsorship: Nike, Gatorade, McDonald’s, Coca-Cola
A huge portion of Michael Jordan net worth and yearly earnings comes from his long-term contract with Nike. The air jordan brand, which launched in the 1980s, has earned the player billions of dollars.
It’s estimated that Jordan has earned over $2.3 billion from the sale of shoes since 1984. Till today, old and new versions of Air Jordans are selling globally, ensuring Jordan’s continuous stream of money. Even in Bangladesh, Jordan has millions of fans who adore his career and buy his shoes.
However, aside from the shoe business, Jordan was part of other endorsements, including Gatorade, Coca-Cola, McDonald’s, Five Star, 2K, Upper Deck, and Hanes. The legend started a tequila business, owns several restaurants (Michael Jordan’s steakhouse), and a car dealership.
All of these endorsements have contributed over $2 billion to his net worth, and the existing ones fetch him between $300 and $400 million annually. Officially, he became a billionaire in 2014, with ownership of the Charlotte Hornets and Air Jordan’s soaring worth. Since then, the sales and popularity of Air Jordans have been up 268%, thanks to celebrity partnerships to connect to a younger audience.
Charlotte Hornets Team Ownership
Michael Jordan himself said, “I can accept failure, everyone fails at something. But I can’t accept not trying.” Jordan did try as he invested in several businesses, but his ownership of the Charlotte Hornets struck gold in the 2010s. Jordan bought a majority stake in the Charlotte Hornets for $175 million in 2010.
In 2014, the stake rose by 89%, making him a billionaire in addition to his Nike sponsorship. He sold a minority stake in 2019 when the team was worth $1.5 billion. In 2023, Jordan sold his majority share at $3 billion valuation.
Sports Betting and Auto Racing
In September 2020, Jordan took an equity stake in the sports betting company, DraftKings. Michael Jordan used to wager hundreds of thousands of dollars on sports events and even trivial dealings with past teammates.
Jordan said he has always loved to bet, and former Bulls teammates said he could bet $100k on rock, paper, and scissors. The basketball player’s fans around the world, especially Bangladeshis, also like to bet on different sports. The country has seen an increase in betting on soccer, basketball and some other sports in recent years. And experts at MightyTips assure, “there are great platforms that cater to Bangladeshi bettors in many aspects, from bonuses to top-notch customer service.”
Jordan became a co-owner of 23Xl racing, a NASCAR cup series team, along with legendary driver, Denny Hamlin, and Curtis Polk. Jordan purchased this company for the purpose of competing in the Cup Series.
How Much Money Does Michael Jordan Make a Year: Net Worth
Professional gambling expert, Kate Richardson, has done the research, and we can verify, from Jordan’s investments and sponsorships, that he has an estimated net worth of $3.5 billion.
He earns between $300 and $400 million per year. This surpasses that of Lebron James and several other basketball icons, making Michael Jordan one of the highest-earning athletes of all time.
Michael Jordan uses his wealth for philanthropic purposes, as well as to build his own brand of charities and foundations, where his donations have exceeded $100 million.
Conclusion
With his Air Jordan revenue and investments, Michael Jordan has earned way more than his total playing salary during his career.
Jordan started out as a basketball player, but he has evolved to become a very successful businessman. He continues to invest strategically in several businesses, ensuring a continuous stream and increasing net worth.
The article was provided by Kate Richardson
