Michael Jordan net worth: Michael Jordan is a former American basketball participant and entrepreneur who has a net worth of $1.5 billion. Even although Michael has not performed professionally in over a decade, he nonetheless earns an estimated $80-100 million per 12 months from endorsements and numerous different enterprise ventures. Michael earns $60 million yearly from Nike/Jordan model royalties alone. During his taking part in days, Jordan set sport information by being the primary athlete to earn over $30 million per 12 months in wage which occurred from 1996 – 1998 whereas he was taking part in for the Chicago Bulls. He additionally starred within the 1996 film Space Jam and is almost all proprietor of the Charlotte Hornets (previously Bobcats) NBA franchise. Jordan led the Chicago Bulls to six NBA championship titles. He is a five-time league MVP, he holds the report for highest profession scoring common of all time and was inducted into the Hall of Fame on September 11th 2009. Throughout his spectacular profession and even by way of to the current, Michael Jordan has been a spokesman for a lot of company manufacturers together with Nike, Gatorade, Wheaties, McDonald’s, Coca-Cola, Chevrolet, Ball Park Franks, Rayovac, Hanes, and MCI. Before Michael Jordan, the biggest superstar shoe endorsement contract on the earth was James Worthy’s $150,000 annual cope with New Balance. In 1984, Jordan shattered all endorsement information when Nike agreed to pay him $500,000 per 12 months for 5 years. Jordan additionally acquired Nike inventory choices which introduced his whole compensation to $7 million over 5 years. Prior to signing the deal, Michael had by no means worn a pair of Nike sneakers in his life and had been hoping to signal with Adidas, however Nike’s supply was too wealthy to match. When he debuted the sneakers, they violated the NBA’s uniformity restrictions. Nike paid all of the league’s fines and used the controversy to construct pleasure across the model. The Air Jordan shoe first appeared in shops in March 1985 and two months later had offered over 1,000,000 pairs. Within the primary 12 months, Air Jordan generated $100 million in revenues for Nike. Today, 58% of all basketball shoe gross sales are Air Jordans and the model generates over $2.5 billion in annual gross sales for Nike. When Michael divorced his spouse of 13 years Juanita Jordan in 2002, he was pressured to pay her a whopping $168 million divorce settlement. It was one of many most expensive divorces in historical past and included the couple’s $29 million, seven acre suburban Chicago mansion.
Michael Jordan Becomes A Billionaire
In June 2014, it was reported that Michael had elevated his possession stake within the Bobcats (as we speak generally known as the Hornets) from 80% to 89.5%. He purchased his unique stake from BET founder Robert Johnson for $175 million. Based on the newest valuation estimates, the Hornets are price a minimal of $700 million. The Bobcats additionally carry roughly $135 million price of debt, which suggests Jordan’s stake within the crew is price $416 million. When you mix this with Michael’s extra $600 million wealth, his whole net worth is a shade over $1.1 billion. If the Hornets are literally price $1.5 billion (particularly after the Houston Rockets offered for $2.2 billion), then MJ’s net worth is $1.5 billion. Read right here for more information: Michael Jordan is a Billionaire.
Michael Jordan Salary History
- 84-85 Chicago Bulls $550,000
- 85-86 Chicago Bulls $630,000
- 86-87 Chicago Bulls $737,500
- 87-88 Chicago Bulls $845,000
- 88-89 Chicago Bulls $2 million
- 89-90 Chicago Bulls $2.25 million
- 90-91 Chicago Bulls $2.5 million
- 91-92 Chicago Bulls $three.25 million
- 92-93 Chicago Bulls $four million
- 93-94 Chicago Bulls $four million
- 94-95 Chicago Bulls $three.85 million
- 95-96 Chicago Bulls $three.85 million
- 96-97 Chicago Bulls $30.14 million
- 97-98 Chicago Bulls $33.14 million
- 01-02 Washington Wizards $1 million
- 02-03 Washington Wizards $1.03 million
- Career: $93.7 million
Michael Jordan owns a $50 million personalized Gulfstream IV non-public jet that shuttles him to and from homes all around the world.