Even after retirement, Michael Jordan continued to make history.
The former NBA star has now become the first professional athlete to join the 400 richest people in the United States. Forbes reported on Monday. His net worth is estimated at an eye-popping $3 billion, slightly less than the $3.5 billion estimated in August, but still enough to put him in the upper echelon of U.S. residents.
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Jordan’s franchise status is due in large part to his recent departure from the Charlotte Hornets.Earlier this year, he gave up his majority stake for $3 billion, an amount far more than ForbesThe team’s valuation in 2022 is only $1.7 billion. In addition to his income streams, the player has earned approximately $2.4 billion in pre-tax earnings during his career, thanks to his NBA paydays and partnerships with brands like Gatorade, McDonald’s, and Nike.
“Michael’s one of the few guys who’s had it three times,” Ted Leonsis, owner of the Washington Wizards, Mystics and Capitals, told us. Forbes. “A lot of entrepreneurs, they get it right the first time. They hit it big, take the bonus, retire, and then (we) never hear from them again, or they try something a second time and it doesn’t work out. “He had three huge successes. ” (Leonsis was referring to Jordan’s experience as a player and owner both on and off the court, as well as his work with Nike on the Air Jordan brand.)
While in the NBA, Jordan was one of the league’s highest-paid players, earning $94 million in 15 seasons and ranking as the highest-paid player in 1997 and 1998. But his deal with Nike may be the most lucrative part of his revenue: When the first Air Jordan sneakers came out, the company expected to sell $3 million worth of merchandise. Within two months, sales reached $70 million; by the end of the year, its revenue had topped $100 million.Now, according to ForbesJordan’s most recent royalties were approximately $260 million.
With $3 billion in his bank account, Jordan will likely be able to retire comfortably and enjoy his earnings. But Leonsis doesn’t expect the shot-stopper to slow down anytime soon, citing his investment in the NASCAR Cup Series team 23XI Racing, which he and driver Denny Hamlin co-founded. “I bet this will end up being a great business for him as well,” Leonsis said. “It’s his competitiveness and desire to win.”
Being one of the richest men in the country may not come with a trophy, but it’s a huge honor to do it with all of these NBA champions.
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