Michael Jordan is one of the greatest basketball players in history, but his fortune doesn’t just come from his basketball career. The legendary player has built a lucrative career in business, making him one of the wealthiest former professional athletes in the world. His net worth reportedly reached $2 billion in April 2023, largely due to his stake in the Charlotte Hornets. But how did he accumulate such a massive fortune, and what does he do with all that money? Let’s take a closer look at Michael Jordan’s net worth and how he makes and spends his millions.
Michael Jordan: The First Athlete-Billionaire
Michael is a basketball legend and one of the most successful and wealthy athletes in history. He is widely regarded as the first athlete-billionaire, and his net worth is estimated at $1.7 billion in 2023, according to Forbes. Jordan’s fortune comes from a variety of sources, including his NBA career earnings, endorsements, and lucrative business ventures. After retiring from basketball, he became a successful entrepreneur, owning the Charlotte Hornets NBA franchise.
Jordan also invests heavily in companies such as DraftKings and Dapper Labs and has a successful clothing line under the Nike umbrella. In addition to business ventures, Jordan is known for his philanthropy, including donations from The Last Dance and Jordan Brand, supporting various charities. Jordan’s success both on and off the court has made him a role model for athletes and entrepreneurs alike, and his net worth is expected to continue growing in the years to come. 
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MJ’s Career in Business and Team Ownership
Michael Jordan’s career in business and team ownership has been nothing short of impressive. After retiring from basketball, he ventured into the business world and has managed to build a successful empire that has contributed significantly to his net worth. Jordan bought a majority stake in the Charlotte Hornets in 2010 for $175 million, which is now worth $1.5 billion according to Forbes. Jordan also launched his own footwear and clothing line, Jordan Brand, under Nike, which is estimated to bring in over $3 billion in revenue annually.
“I’m not just a basketball player. I’m a businessman. I’m a CEO. I’m a entrepreneur,” Jordan famously said.
Jordan’s business acumen and leadership skills have also been recognized by other organizations, as he was appointed as a special adviser to DraftKings in 2020. The company’s shares surged by 12% following the announcement. Jordan’s success in business and team ownership shows his ability to put his competitive and strategic mindset to use beyond the basketball court. 
Philanthropy: The Generosity of a Billionaire
When it comes to philanthropy, Michael Jordan’s generosity knows no bounds. The legendary athlete-billionaire has contributed millions of dollars to various charitable organizations over the years. Recently, he donated $10 million to address social justice issues, making it the largest donation in the history of Novant Health. Jordan has also been active in donating towards COVID-19 relief efforts.
In 2020, he donated proceeds from his hit docuseries, The Last Dance, to Feeding America’s food banks in Chicago and the Carolinas. He reportedly made $4 million from the series, and donated all of it to charity.
Jordan’s philanthropic efforts extend beyond donations, as well. He actively supports organizations that fight for racial justice and equality. In 2020, he pledged to donate $100 million over 10 years to such causes. Jordan’s generosity shows that wealth and success are not just about making money, but about making a positive impact on the world. As he once said, “I want to be remembered as a guy who always gave his all, no matter what he was doing.” 
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Surprising Fact: Earnings from NBA Contracts
One fact about Michael Jordan’s net worth is the relatively small portion that comes directly from his NBA contracts. While he did earn around $93 million throughout his career as a player, this is only a fraction of his overall fortune. As Forbes explains, “Jordan’s net worth comes from his ownership of the NBA’s Charlotte Hornets and his nearly $2 billion in lifetime earnings from Nike and other corporate partners.” His partnership with Nike, in particular, has been extremely lucrative, with the Air Jordan brand alone generating about $3.6 billion.
As Jordan himself once put it, “I can’t speak for other people, but for me, I realize how much money I made actually playing in the NBA versus what I’m making now and it’s like night and day in terms of income.” This highlights just how important it is for athletes to think beyond their playing days and find ways to capitalize on their brand. 
The Love for Gold: Michael Jordan’s Secret Golf Course
Michael Jordan is not only a legend in the NBA, but also a big fan of golf. In fact, he loves the sport so much that he built his own secret golf course worth up to $20 million in South Florida. Jordan has been quoted saying, “For the first time in my life, it’s been a place where I’ve been able to get away from all the noise, and I desperately needed that.”
The golf course has lavish amenities and even has a beverage cart named Squeeze that brings beer and refreshments to the clubs exclusive members. Jordan’s love for golf has had a huge impact on his life in the best possible way. He has been golfing almost every day of the week and has even claimed that “golf is the new basketball!” It seems like Jordan has found a new passion, and it’s safe to say he’s excelling in that arena as well. 
Investment in Dapper Labs and NBA Top Shot
Michael Jordan’s business ventures have been far-reaching since retiring from basketball in 2003. One of his most recent investments is in Dapper Labs, the company behind NBA Top Shot, a blockchain-based virtual trading card platform that has taken the sports world by storm. Jordan, among other high-profile investors, contributed $305 million in funding for Dapper Labs in March of 2021.
This move shows Jordan’s continued interest and involvement in the world of sports and technology.
In a statement regarding the investment, Jordan stated, “NBA Top Shot is an entirely new way of experiencing sports, one that blends the virtual and real worlds together in a way that hasn’t been done before. I’m a big believer in their team, and I think they’re well-positioned to continue growing and shaping the future of how we interact with sports.”
Jordan’s investment in Dapper Labs aligns perfectly with his penchant for staying ahead of the game in the sports industry and his shrewd business acumen. This partnership has already proven successful, with NBA Top Shot’s unprecedented success. As the platform continues to evolve and expand, Jordan’s involvement will likely play a key role in its overall success.
Donations from The Last Dance and Jordan Brand
Michael has not only been immensely successful as a basketball player but also as a businessman. Even in his retirement, he continues to earn from a variety of business ventures. One of which is the Jordan Brand, a subsidiary of Nike, which has been Jordan’s cash cow, raking in billions in revenue. In addition, Jordan has also been a shrewd investor as he has a stake in DraftKings, which had a stock surge recently.
What is particularly noteworthy, however, is Jordan’s charitable generosity. During the airing of the documentary series “The Last Dance,” Jordan pledged to donate all his earnings from the show to charitable causes in Chicago. This news came as no surprise as Jordan has been philanthropic throughout his career. In fact, he has donated a significant amount of his net worth to various causes. An example of this includes his $7 million donation to open medical clinics in Charlotte, North Carolina.
The impact of Jordan’s donations is not only felt by those who receive the help, but also serves as an inspiration to others. In a world where it’s easy to become disillusioned with celebrities and their motives, Jordan’s giving nature generates hope and positivity. It is evident that he has not forgotten his roots and the issues that affected him growing up in North Carolina.
Jordan’s philanthropy is a testament to his character and a legacy that extends beyond basketball and business. As he continues to grow his net worth, we can only expect that his generosity will grow alongside his fortune.
Jordan’s Stake in DraftKings and Stock Surge
Basketball legend Michael Jordan’s stake in DraftKings created a buzz in the sports betting industry, leading to a 12% surge in the sports betting company’s stock price. The six-time NBA champion took an equity interest in exchange for providing guidance and strategic advice to DraftKings board of directors. Jordan’s role as a special advisor to DraftKings’ board of directors is effective immediately. The sports betting company plans to tap Jordan for input on company strategy development, diversity, equity, and marketing activities.
DraftKings CEO and co-founder, Jason Robins, said, “The strategic counsel and business acumen Michael brings to our board is invaluable, and I am excited to have him join our team.” Jordan’s investment in DraftKings signals his continued interest in business ventures, which are instrumental in increasing his more than $1.7 billion worth. 
The Majority of Net Worth Came Decades After NBA Career
Michael is widely known as one of the greatest basketball players of all time, but what many people may not realize is that the majority of his wealth came after his legendary NBA career. According to Forbes, Jordan’s net worth in 2023 is estimated to be $1.7 billion, which is a significant decrease from his net worth in 2020.
However, it’s important to note that he only made roughly $90 million during his NBA career, with the bulk of his fortune stemming from endorsements and business ventures that he pursued after retiring from the sport. Jordan owns the Charlotte Hornets, a Nissan car dealership, a tequila brand, and numerous restaurants. He is also a co-owner of a NASCAR team and an investor in DraftKings.
In addition, his connection to Nike remains strong, with his Jordan Brand generating massive amounts of revenue. As Forbes explains, “Jordan’s big business empire is where he makes most of his money now, from brand partnerships to investments in tech and startups,” cementing his status as one of the most successful athletes turned entrepreneurs of all time. 
Michael Jordan’s Multimillion-Dollar Business Ventures
Michael Jordan’s net worth is estimated to be $2 billion, making him the richest former professional athlete in the world. This wealth has mainly come from his lucrative business ventures. He is the majority owner of the Charlotte Hornets, which is now valued at $1.7 billion.
He also owns a series of successful restaurants in Florida and Illinois and has a stake in a Nissan dealership in North Carolina. Michael Jordan has also invested in several profitable businesses, including Sportradar, a Switzerland-based sports data provider, and headphone brand, Muzik.
Furthermore, his successful Jordan Brand, which is under Nike, has generated huge sales numbers and endorsement deals. His philanthropic efforts are also notable, and Jordan has donated a significant portion of his wealth to charity. As he once said, “I’ve failed over and over and over again in my life, and that is why I succeed.”