Michael Jordan became a household name in competition and income after joining the NBA in 1984. After 15 seasons of “fighting” in the NBA, Jordan earned 94 million USD and was the highest-paid athlete in the competition in 1997 and 1998.

Michael Jordan “pocketed” $2.4 billion in pre-tax income and expenditures throughout his career, highlighting the vast difference between him and other players worldwide. He represented McDonald’s, Gatorade, and Hanes during his career. For example, Nike helped Jordan earn 260 million USD in image rights.

Michael Jordan’s greatest “winning shot” came in August 2023 when he sold a majority share in the Charlotte Hornets for $3 billion. Even at 1.7 billion USD according to Forbes figures in 2022, this 60-year-old great sold the squad successfully. The second highest NBA sale in league history, the 27th most valued franchise was sold for 17 times more than when Jordan bought the Charlotte Hornets.

Michael Jordan became the first professional athlete on Forbes’ 400 wealthiest persons list after the aforementioned transaction raised his net worth to $3 billion.

Michael Jordan is one of the few three-time winners. Ted Leonsis, owner of the Washington Wizards (Men) and Washington Mystics (Women) basketball teams, next to an oil football team, the Washington Capitals, commented on Michael Jordan, with whom he has invested in sports many times. Some entrepreneurs only succeed once, then retire or try again and fail. Jordan’s effect as a player, Nike Air Jordan owner, and creator was highlighted by Leonsis.

Only three professional athletes have become billionaires. Michael Jordan became the first billionaire in 2014. Next, LeBron James and Tiger Woods. LeBron James and Tiger Woods have billions while playing.
As earnings rise and more non-competitive growth possibilities arise, more athletes will become billionaires. Forbes estimates that seven athletes have pre-tax income and agency expenditures exceeding $1 billion.

Making billions needs several things, or as Dallas Mavericks owner Mark Cuban noted, “athletes need a lot of luck.” Since joining the NBA, Michael Jordan’s route to millionaire has been clear.

Air Jordan released in 1985, a year after Michael Jordan’s first NBA season, and helped Nike make $3 million. Temple University study in 2023 found that Air Jordan sales hit 70 million USD two months later and 100 million USD by 1985. Michael Jordan signed a 5-year Nike deal for 500,000 USD/year in image rights payments. Nike’s annual business report showed a 28.6% growth in sales revenue to $6.6 billion from 2022.

Michael Jordan’s ability and personality provide economic chances for more than just Nike. He was a brand before personal branding was trendy. Gatorade’s marketing strategy is ‘Drink Gatorade to be like Michael,’ “said Sportscorp president Marc Ganis.

Michael Jordan began financing and running a professional basketball club in 1998, shortly after his second retirement. Jordan failed to acquire the Milwaukee Bucks and New Orleans Pelicans (since renamed), according to ESPN.

Jordan bought the Washington Capitals football franchise and a 44% share in the Washington Wizards basketball team with Ted Leonsis’ company. Jordan is Washington Wizards executive chairman. Abe Pollin had the most Wizards shares.

Michael Jordan subsequently sold stakes in his sports teams to return to professional competition for two seasons. Jordan owned another basketball franchise after retiring in 2003. Jordan bought a Charlotte Hornets minority ownership in 2006. First former NBA player to possess over 50% of a team’s shares in 2010.

Michael Jordan financed the Charlotte Bobcats with loans and valued them at $175 million. This amount is far lesser than Robert L. Johnson’s $300 investment in the Charlotte Hornets in 2003.

Michael Jordan is competitive, but the Charlotte Hornets have lost three NBA Playoffs series in the first round in the previous 13 years. Jordan profited from the Charlotte Hornets’ growing valuation despite bad outcomes.

Jordan sold 20% of the Charlotte Hornets to Gabe Plotkin and Daniel Sundheim for $1.5 billion in 2019. After Michael Jordan sold a majority share to Plotkin and hedge fund founder Rick Schnall, the team’s worth quadrupled.

“This deal forced owners to revalue their team. With its greater size and better income, my club would be worth more if the Charlotte Hornets were sold at that price. He benefitted other club owners via a contract. Leonsis claimed clubs’ values may have decreased if Jordan decided to swiftly sell his Charlotte Hornets shares at a cheap price.

Michael Jordan has a minority investment in Charlotte Hornets. This helps Jordan remain involved with basketball and find new business possibilities. Jordan invested in restaurants, vehicle trading, and stock ventures throughout the years. Jordan invested in CLEAR, Mythical Games, Dapper Labs, DraftKings, Sportradar, and others via Ted Leonsis.

Ted Leonsis thinks Michael Jordan will race NASCAR next. Jordan and Joe Gibbs Racing driver Denny Hamlin created NASCAR team 23XL Racing in 2020. Michael’s NASCAR venture might be his next big enterprise. Leonsis attributed this to his competitiveness and will to win.