Michael Jordan’s Multimillion-Dollar Business: ‘He Earned Almost Four Times His Entire NBA Career’

Michael Jordan Not only is he considered the best basketball player of all time, but he is also one of the highest-paid athletes-turned-businessmen currently.The 60-year-old American set a new sales record for the brand in 2023 Air Jordan This made him a fortune he could never have imagined.

1984, Nike He leaned toward him when he chose to commit to the image of a company that was ranked third in the North American market at the time and couldn’t penetrate basketball.What he got at that time was not just a contract $15 million over five years

Salary tripled chicago bullsBut as told in the movie released earlier this year, he was interested in launching his own line of shoes.

In March 1985, Nike launched the first pair of legendary models Air Jordan, whose red and white version launched a remarkable career.According to American journalist Joe Pompliano, by 2023, sales will exceed $6.6 billion This is where the bank account is Michael Jordan It shot itself.

That was the day the then-rising basketball player signed autographs Nike agree 5% of the sales will go directly to him. In other words, this year he has everything US$330 million

which, as Spanish news portal AS points out, is almost “four times” the total salary he earned during his time as a player. NBA ($94 million).

Additionally, the brand’s sales have grown exponentially since 2018 $2.8 billion Since then, its profit margins have been expanding to where they are today.This allows Nike Looking forward to it soon Air Jordanyes The second largest footwear brand in the United Statesbeyond Adidas, Puma anyone new Balancejust below itself Nike. Apart from, Jordan Brand The company has expanded globally into other sports such as football through its alliance with Paris Saint-Germain.

To understand how quickly the connection between this American company and basketball players developed, it was not until 1984 that the company became even more closely associated with the sport, which is why the goal was to achieve sales of more than $4 million in three years. But after the first sneakers were launched, In just 12 months, that number topped $100 million, breaking any kind of record for the company.