Michael Jordan is worth $3B, making him America’s richest athlete: Forbes

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Basketball legend Michael Jordan continues to bolster his Hall of Fame credentials in the business world.

The six-time NBA champion has a lucrative licensing deal with Nike and recently sold a majority stake in the Charlotte Hornets to become the first person to appear on Forbes’ list of America’s 400 richest people, the publication said Monday athlete.

The Chicago Bulls ‘GOAT’ has amassed a whopping $3 billion net worth, putting Air Jordans on the map for moguls like Elon Musk, Jeff Bezos, Warren Buffett and Ken Griffin Reserved rare air.

It’s unclear where the 60-year-old Jordan will occupy when rosters are updated in the coming months.

On last year’s Forbes 400 list, 10 people with a net worth of $3 billion ranked No. 359. They include hair care mogul Todd Christopher, hedge fund manager John Paulson and Tyson Foods heiress Barbara Tyson.

Forbes said the list was calculated taking into account all types of assets, including shares in public and private companies, real estate, art, yachts, plans, ranches, vineyards, jewelry, car collections and more.

It also takes into account debt and charitable donations.

Representatives for Jordan at his family office, Jump Management, did not immediately respond to a request for comment from The Washington Post.

Jordan won five MVP awards and tied the NBA scoring title 10 times before becoming the league’s first black owner when he purchased Charlotte (then known as the Bobcats) for $275 million in 2010 .

This summer, he sold his stake for a staggering $3 billion, far higher than Forbes’ estimate of $1.7 billion and the second-highest sale price in league history.

In addition to the Hornets sales, Jordan has made billions from his Jordan Brand apparel licensing deal with Nike, earning $500,000 a year for his Airness, plus a 5% royalty on all Jordan Brand revenue usage fee.

Nike reported that its partnership with Jordan (which began in 1984 during Jordan’s rookie year) brought the company $5.1 billion in revenue in 2022 alone, accounting for a staggering 11% of Nike’s total sales.

Jordan was also no stranger to high-paying endorsements, including a 10-year partnership with Gatorade that he cemented in 1991 for about $1.4 million per year.

He has also collaborated with Hanes, Chevrolet, McDonald’s, Ball Park Franks, Wheaties (having put his image on Wheaties boxes a record 19 times), battery company Rayovac and sports trading card brand Upper Deck.

Jordan’s other investments include owning NASCAR’s 23XI Racing team, which he launched in 2020 with a star-studded roster that includes Bubba Wallace, the track’s only Black driver.

That same year, he also received an undisclosed stake in DraftKings for “providing guidance and strategic advice” to sports betting companies.

The exact payday Jordan received before or now from these endorsements and partnerships remains unclear, although they were collectively credited with making him the first billionaire NBA player in 2014, when he was 51.

Jordan, of course, earned an eye-popping salary during his career with the Bulls and Washington Wizards before retiring in 2003 at the age of 40.

According to Forbes, Jordan is unique both athletically and financially, as reaching billionaire status is a milestone only seven professional athletes have achieved.

According to Forbes, Jordan joined the billionaire club after retiring in 2014, followed closely by LeBron James and Tiger Woods, whose careers are still active in 2022.

Soccer stars Cristiano Ronaldo and Lionel Messi, tennis legend Roger Federer and boxing icon Floyd Mayweather are among the others earning tens of figures.

Prior to Forbes’ latest calculation of Jordan’s net worth, the news site said Jordan ranked No. 1,495 with a net worth of $2 billion.

Before that number hit $3 billion, Jordan bought himself a massive real estate portfolio that included a nine-bedroom, 19-bathroom home in the Chicago suburb of Highland Park and two properties in North Carolina — where he grew up and went to college at the University of North Carolina and another college in Ski City, Utah.

However, his primary residence is reportedly a mansion in an upscale gated community in Jupiter, Florida, which he bought for $4.8 million in 2012 and then invested in the property behind the gates. Undertaken multi-million dollar renovations. The jersey features his legendary No. 23 and features a full-size basketball court with his “Jumpman” Nike logo.

Jordan travels to each of his properties aboard a sleek Gulfstream G-IV private jet, which features a custom off-white pattern that pays homage to his Air Jordan line of Nike shoes.

The 88-foot-long aircraft, which can accommodate up to 13 passengers and two crew members, reportedly cost approximately $62 million to purchase and customize.