- Net Worth: $2.6 Billion
- Birthdate: Feb 17, 1963 (age: 61)
- Birthplace: Brooklyn
- Gender: Male
- Height: 6 ft 5 in (1.98 m)
- Profession: Basketball player, Athlete, Spokesperson, Entrepreneur, Actor
- Nationality: United States of America
Michael Jordan Net Worth (Money & Salary)
Michael Jordan, a now-retired American basketball player, team owner, brand ambassador, and businessperson, possesses a fortune of $2.6 billion. He remains, arguably, the most renowned basketball star globally and serves as the benchmark for upcoming talents. Media eternally seeks out the “next Michael Jordan,” as each season a new contender emerges. Michael Jordan currently revels in his semi-retirement, numerous endorsement deals, and his revered status as one of the greatest basketball players ever.
During his time with the Chicago Bulls, Jordan secured 6 NBA championship victories and garnered five league MVP titles. He holds the record for the highest career scoring average and was inducted into the Hall of Fame in 2009.
In contrast to popular belief, Jordan did not amass billionaire status solely through his NBA earnings. Throughout his basketball career, he accumulated a total of $93.7 million in salary. By comparison, it’s expected that by the time LeBron James retires, he will have earned over $500 million from NBA salaries. While Jordan earned a significant salary during his NBA tenure, he did not profit from the massive contracts that emerged in the years following his retirement. Jordan was the first athlete to surpass the $30 million per year mark in salary, achieving this milestone during the 1996-1997 season with a $30.14 million base salary. The subsequent season saw his earnings rise to $33.14 million, which, adjusted for inflation, is akin to $53.4 million today.
Over his career and subsequent years, Jordan consistently ranked amongst the highest-earning celebrity endorsers, amassing $1.4 billion from endorsement deals to date. Despite retiring from professional basketball nearly two decades ago, he continues to rake in $100 million annually from endorsements and assorted business ventures. Notably, this yearly sum surpasses his entire earnings from salaries during his 16-season NBA career. Jordan nets at least $60 million yearly from Nike/Jordan brand royalties alone.
Jordan’s entry into the billionaire club is primarily attributed to his ownership stake in the Charlotte Hornets NBA team. Acquiring a controlling interest in the franchise in 2010 for $175 million was a significant turning point. The initial confirmation of his billionaire status came in June 2014 when news emerged of his increased ownership to 89%. In 2019, he sold a portion of his stake, valuing the team at $1.5 billion, further boosting his net worth. In 2023, he relinquished his majority stake. Detailed insights on this investment will be provided later in this article.
“Over my career, I’ve missed more than 9,000 shots, lost almost 300 games. I’ve been entrusted 26 times to take the game-winning shot… and missed. I’ve faced failure repeatedly in my life. That’s the key to my success.”
– Michael Jordan.
Michael Jordan’s Path to Billionaire Status
In 2006, after taxes, divorce settlements, and living expenses, Jordan’s net worth hovered around $450 million. That year, he acquired a minority share in the Charlotte Bobcats NBA team, becoming the second-largest individual owner after BET founder Robert L. Johnson. By 2010, Jordan had secured an 80% ownership after purchasing Robert’s stake for $175 million.
In June 2014, news surfaced of Jordan’s increased ownership from 80% to 89.5%. The Hornets had been valued at $500 million, with $135 million in debts. Considering the Clippers, valued at $500 million, were sold for $2 billion, it can be inferred that the Hornets, potentially worth $600 million, boosted Jordan’s fortunes. The combined value of his outside assets and this stake propelled him into billionaire status for the first time, with a $1.016 billion net worth.
In 2019, Jordan relinquished a segment of his stake to hedge fund managers Gabe Plotkin and Daniel Sundheim at a $1.5 billion valuation.
By March 2023, rumors swirled suggesting that Jordan was looking to sell his 80% interest in the Hornets, potentially valuing it at $2 billion.
In June 2023, reports confirmed that Jordan finalized the sale of the Charlotte Hornets at a $3 billion valuation, ending his 13-year majority ownership. The sale to a group led by Gabe Plotkin and Rick Schnall saw Jordan retaining a minority stake. Pre-sale, Jordan’s net worth stood at $2.2 billion, a figure based on a $1.5 billion Hornets valuation from the 2019 transaction. With an 80% stake at $1.5 billion, he pocketed $1.1 billion but retained a $300 million share in the team. Subsequently, Michael Jordan’s wealth surged from $2.2 billion to $2.6 billion.
Financial Achievements
We initially featured Michael Jordan on Celebrity Net Worth in September 2009, valuing him at $500 million. His billionaire status first surfaced in 2014, and he surpassed the $2 billion mark in early 2020.
| Michael Jordan Wealth Progression | |
| Year | Wealth |
| 2009 | $500,000,000 |
| 2013 | $650,000,000 |
| 2014 | $1,000,000,000 |
| 2016 | $1,100,000,000 |
| 2017 | $1,200,000,000 |
| 2018 | $1,500,000,000 |
| 2019 | $1,900,000,000 |
| 2020 | $2,000,000,000 |
| 2021 | $2,100,000,000 |
| 2022 | $2,200,000,000 |
| 2023 | $2,600,000,000 |
Beginnings of Michael Jordan
Michael Jeffrey Jordan was born on February 17, 1963, in Brooklyn, New York. His mother, Deloris, was employed in finance, and his father, James R. Jordan Sr., held the role of an equipment supervisor. The family relocated to Wilmington, North Carolina while Michael was still a young child.
Engaging in basketball, baseball, and football at Emsley A. Laney High School in Wilmington, when Jordan attempted to join the varsity basketball team during his sophomore year but was turned down due to his height of “only” 5 foot 11. Fueled by this rejection, MJ dedicated himself to improving his skills on the Junior Varsity team. During the summer preceding his junior year, he grew four inches and ultimately secured his place on the varsity team.
Michael excelled on the varsity team, scoring an average of 25 points per game in both his junior and senior years. He was selected to participate in the 1981 McDonald’s All-American Game as a senior, where he achieved a remarkable 30 points.
University Journey
With his height now at 6 feet 6 inches, Michael received offers from various college programs, opting to enroll at UNC, turning down opportunities from institutions such as Syracuse, UVA, Duke, and the University of North Carolina.
During his time at UNC, he maintained an average of 13.5 points per game and was awarded the title of ACC Freshman of the Year, playing a key role in leading the team to victory in the 1982 NCAA Championship against the Georgetown Hoyas. One of his most memorable moments was when he scored a crucial basket over Georgetown Center Patrick Ewing with only 15 seconds left in the game, ultimately securing their win. Jordan later revealed that this particular match and shot were pivotal in boosting his self-assurance and shaping his future in basketball.
Professional Basketball Career
After spending three seasons with the UNC Tar Heels and garnering numerous accolades, including the Naismith and Wooden College Player of the Year awards in 1984, Michael chose to forego his senior year and join the 1984 draft. Surprisingly, he was not the top pick but the third, following Sam Bowie (#2) and Hakeem Olajuwon. The Chicago Bulls selected him as the third overall pick.
Upon signing his rookie contract with the Bulls on September 12, 1984, Jordan agreed to a seven-year, $6 million deal, equating to an average of around $850,000 yearly. During his rookie season, team attendance doubled, a significant improvement from the previous six games that were sold out. By the end of his fifth season, he signed an eight-year, $25 million contract extension with Chicago, marking the largest transaction in NBA history at that time. Consequently, his annual salary increased to approximately $5 million. In 1996, Jordan signed a one-year $30 million contract, followed by a one-year $33.14 million deal the succeeding year, equivalent to approximately $55 million today after adjusting for inflation.
Throughout his NBA career, Jordan retired and made comebacks twice, temporarily leaving to pursue a career in minor league baseball. During his basketball career, his total salary amounted to $93.7 million, equivalent to $161 million when adjusted annually for inflation. Here’s a detailed breakdown of Michael’s NBA salary progression:
| Season | Salary | Inflation Adjusted |
| 1984-1985 | $550,000 | $1.4 million |
| 1985-1986 | $630,000 | $1.5 million |
| 1986-1987 | $737,500 | $1.7 million |
| 1987-1988 | $845,000 | $1.9 million |
| 1988-1989 | $2,000,000 | $4.4 million |
| 1989-1990 | $2,250,000 | $4.7 million |
| 1990-1991 | $2,500,000 | $5 million |
| 1991-1992 | $3,250,000 | $6.2 million |
| 1992-1993 | $4,000,000 | $7.4 million |
| 1993-1994 | $4,000,000 | $7.4 million |
| 1994-1995 | $3,850,000 | $6.7 million |
| 1995-1996 | $3,850,000 | $6.7 million |
| 1996-1997 | $30,140,000 | $50 million |
| 1997-1998 | $33,140,000 | $53.41 million |
| 2001-2002 | $1,000,000 | $1.5 million |
| 2002-2003 | $1,030,000 | $1.5 million |
| $93,772,500 | $161 million |
(Photo by Jonathan Daniel/Getty Images)
Nike Agreement and Yearly Royalties
James Worthy’s $150,000 annual partnership with New Balance used to hold the top spot in the list of biggest celebrity footwear sponsorships until Michael Jordan broke records in 1984. Nikedecreed to pay him $500,000 per year for five years, setting a new benchmark. Jordan also secured Nike stock options, pushing his overall compensation to $7 million over five years.
Before sealing the agreement, Michael had never sported a pair of Nike sneakers and had been eyeing a deal with Adidas; however, Nike’s proposal was too lucrative to decline and too formidable for Adidas to rival.
Upon the shoes’ debut, they breached the NBA’s uniformity guidelines. Nike covered all fines imposed by the league and used the ensuing controversy to enhance the brand’s allure. The Air Jordan sneaker hit shelves in March 1985 and within two months, had sold over a million pairs. In its first year alone, Air Jordan amassed $100 million in sales for Nike. As of today, Air Jordans account for 58% of basketball shoe sales, contributing over $2.5 billion annually to Nike’s revenue.
In 1992, Michael earned a quarter for each Jordan shoe sold. Presently, he receives $4 per shoe sale.
Between 2002 and 2012, Nike disbursed $480 million to Michael for shoe royalties.
Today, Michael Jordan’s yearly Nike royalty payment typically hovers around $80 – $100 million, occasionally surpassing $100 – $120 million in specific years.
Partnerships
Throughout his illustrious career and to this day, Michael Jordan has represented numerous corporate labels, including Nike, Gatorade, Wheaties, McDonald’s, Coca-Cola, Chevrolet, Ball Park Franks, Rayovac, Hanes, and MCI. Jordan also retains agreements with Upper Deck, 2K Sports, and Five Star Fragrances. He is the proprietor of a car dealership and seven eateries.
Post-Nike, one of his early significant endorsement pacts, which proved to be pivotal for MJ’s career, was struck with Gatorade. At the culmination of the 1989 season, Michael secured a 10-year, $18 million deal with Gatorade. The renowned “Be Like Mike” campaign by Gatorade made its debut after the Bulls claimed their inaugural six titles, propelling both the brand and the man to greater heights of prominence.
A lawsuit filed in 2015 against a supermarket chain for allegedly using Michael’s likeness without consent revealed his stipulation of not engaging in partnership agreements unless the projected revenue reaches a minimum of $10 million. Additionally, Michael once rejected an $80 million offer to endorse a line of headphones, purportedly due to his aversion to wearing them.
To date, Michael Jordan has garnered $1.4 billion from corporate associations throughout his occupation (before tax deductions).
Streeter Lecka/Getty Images
Juanita Jordan Separation Agreement
Michael tied the knot with Juanita Vanoy in September 1989, with whom he shares three offspring. When Michael initiated divorce proceedings with Juanita Jordan in 2002 following a 13-year union, he was obligated to pay her a $168 million split settlement. This split is among the priciest divisions in history, including cash, stocks, and their diverse real estate assets.
Since April 2013, Michael has been wedded to Cuban-American model Yvette Prieto. They welcomed identical twin daughters in February 2014. Jordan attained grandfather status in 2019 when his daughter Jasmine gave birth to a son.
Streeter Lecka/Getty Images
Real Property
Currently, Michael’s main house is an extravagant mansion in Jupiter, Florida. The estate spans 26,000 square feet and boasts 11 bedrooms. Situated on a three-acre plot within the exclusive Bear’s Club community developed by Jack Nicklaus, Michael acquired the land in 2011 for $4.8 million. After two years and $7.6 million in construction expenses, his dream residence was completed.
In March 2013, Michael invested $2.8 million in a lavish estate located by a lake in Charlotte, North Carolina. His Charlotte lake residence spans 12,310 square feet, featuring six bedrooms and eight bathrooms. Positioned on nearly 50,000 square feet of waterfront property, the house includes luxurious amenities such as vaulted ceilings, marble and hardwood floors, various fireplaces, an elevator, and jacuzzi tubs in select bathrooms. Panoramic lake views can be enjoyed from almost every angle of the house through floor-to-ceiling windows. Outside, there’s a pool as well as a pier leading to a gazebo situated on the lake.
Michael also possesses an upscale apartment in the city to be in close proximity to his Hornet and a property in Salt Lake City, Utah.
Residence in Chicago
In Chicago, Michael retains ownership of a spacious mansion in Highland Park. This residence was his abode during numerous record-setting seasons with the Chicago Bulls.
In 1991, Michael acquired a parcel of land in Highland Park and promptly commenced the construction of his dream house. The outcome was a 7-acre property featuring a main house spanning 32,683 square feet. The mansion entails nine bedrooms, 15 bathrooms, an NBA-standard basketball court, a pool pavilion, a 15-car garage, a card room, tennis courts, a PGA-grade putting green, a cigar room, a wine cellar, and much more.
In 2013, Michael decided to list the property for sale at $29 million. By May 2015, the price was slashed to $14.8 million. As of 2023, the estate has yet to attract a buyer:
Luxury Aircraft
Michael Jordan is the proud owner of a $50 million personalized Gulfstream G550 private jet used to travel between his residences worldwide. The jet’s tail showcases Michael’s iconic “Jumpman” logo, and its registration number, N236MJ, cleverly includes his jersey number and initials. Official records indicate that Michael’s jet is technically registered under a corporate entity named “Bank of Utah Trustee,” a common method of asset ownership through a trust. Built in 2005, the jet is equipped with a Rolls-Royce BR 700 Series Turbo Fan engine.
Witness the takeoff of his jet from an airport in Canada in the video below:
Presidential Honor
In November 2016, Michael Jordan was bestowed with the Presidential Medal of Freedom by Barack Obama. Among other recipients that day were Vin Scully, Tom Hanks, Bruce Springsteen, Ellen Degeneres, and Kareem Abdul-Jabar.
(Photo by Alex Wong/Getty Images)
Charitable Contributions
During his active career, a prevalent critique against Michael was his alleged lack of involvement in charitable works and social causes despite his immense affluence and influence. For instance, in the 1990s, he faced backlash for remaining neutral during the North Carolina senate election between Harvey Gannt (an African-American) and Jesse Helms (a known racist). When questioned about his refusal to endorse Gantt, Michael humorously mentioned that he refrained from supporting Gantt because “Republicans purchase sneakers, as well.” Gantt lost the election, and Helms continued to serve in the senate for an additional 23 years. Although Michael later claimed his statement was misunderstood, the reputation hit had already been inflicted.
Michael’s significant early move into charity work was a donation of $2 million, divided equally, to the Institute for Community-Police Relations and the NAACP Legal Defense Fund.
Back in 2017, Michael committed $7.2 million to establish two medical facilities for underprivileged and uninsured individuals in Charlotte. The inaugural clinic commenced operations in October 2019, with the second one following suit in October 2020.
During April 2020, Michael publicly declared that he would be giving away all the earnings he made, which were estimated to be between $3-4 million, from “The Last Dance” documentary series to charitable causes.
In November 2020, amid the peak of the COVID crisis, Michael contributed $2 million to Feeding America through his donation.
A groundbreaking moment occurred in June 2020 when Michael, along with the Jordan brand, announced a pledge to allocate $100 million over the span of ten years towards “organizations dedicated to supporting ensuring racial equality, social justice and greater access to education.”
On February 15, 2023, to commemorate his 60th birthday, Michael disclosed a $10 million grant to the Make-A-Wish Foundation. This amount marked the most substantial individual donation ever made to the organization.
8 Fascinating Insights About Michael Jordan’s Finances
Throughout his entire NBA career, Michael Jordan amassed an overall salary of $94 million. However, just in the previous year, his earnings from Nike royalties alone far exceeded that figure. This calculation excludes endorsements for brands like Hanes, Gatorade, and other ventures as well as his escalating ownership stake in the Charlotte Bobcats! Here are eight more remarkable facts about MJ’s wealth…
JORDAN
JAMES
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A Comprehensive Breakdown of Michael Jordan’s Multi-Billion-Dollar Personal Fortune And Business Empire
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Michael Jordan Has Accumulated An Incredibly Large Amount Of Money During His Lifetime
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Michael Jordan Is Officially A Billionaire Now
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The Journey of Michael Jordan Towards Becoming A Billionaire
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If Michael Jordan Decides To Sell The Charlotte Hornets, He Will Emerge As The Unquestionable Financial Superstar Among All Superstars
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Official News! Michael Jordan Plans To Offload The Hornets And Overcome The Competing Financial Titans (Thanks To A Remarkably Higher Assessment Than Any Predictions)
Michael Jordan Career Earnings
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Washington Wizards (2002-03)$1 Million
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Washington Wizards (2001-02)$1 Million
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Chicago Bulls (1997-98)$33.1 Million
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Chicago Bulls (1996-97)$30.1 Million
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Chicago Bulls (1995-96)$3.9 Million
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Chicago Bulls (1994-95)$3.9 Million
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Chicago Bulls (1993-94)$4 Million
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Chicago Bulls (1992-93)$4 Million
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Chicago Bulls (1991-92)$3.3 Million
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Chicago Bulls (1990-91)$2.5 Million
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Chicago Bulls (1988-89)$2 Million
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Chicago Bulls (1987-88)$845 Thousand
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Chicago Bulls (1985-86)$630 Thousand
Stats are from 2020, 2021, 2022, 2023, 2024, 2025, 2026, 2027, 2028, 2029, 2030, 2031, 2032, 2033, 2034, 2035, 2036, 2037, 2038, 2039, 2040, 2041, 2042, 2043, 2044, 2045, 2046, 2047, 2048, 2049, 2050.