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How Is The Net Worth of Michael Jordan A Stunning $2.2 Billion?

Have you ever wondered what the net worth of NBA legend Michael Jordan is? 

Well, most NBA fans know him as the greatest basketball player who’s ever lived. Having spent almost the entirety of his NBA basketball career with the Chicago Bulls, Jordan made a fortune. 

He did this not only with his basketball prowess but with his lucrative endorsement deals throughout his career as well. 

As of September 2022, the net worth of Michael Jordan is $2.2 billion. In this post, we’ll show you how he achieved his wealth.

Early Life

Michael Jeffrey Jordan was born in the Fort Greene neighborhood in Brooklyn, New York, on February 17, 1963. 

His mother, Deloris, was a bank employee, while his father, James, was an equipment supervisor.

At just five years old, Michael and his family moved to Wilmington, North Carolina. He attended Emsley A. Laney High School, where he tried his hand at a few different sports. 

Jordan played basketball, baseball, and even football in high school. However, he famously did not make the varsity basketball team in his sophomore year for apparently being “too short.” He was 5’11” at the time.

What you’ll often not hear, though, was Michael Jordan’s performance on his junior varsity team. 

Determined to prove his worth, he performed like a young superstar, accumulating several 40-point games. 

He continued to hone his craft and train nonstop the following summer, all while going through a 4-inch growth spurt. 

It might go without saying, but Michael made the varsity team the following school year and never looked back. He immediately made a stellar impact, averaging over 25 points per game in his only two seasons of varsity basketball. 

He was even able to participate in the McDonald’s All-American Game, a collection of the country’s best high-school basketball talents. 

Jordan would score 30 points in that game, solidifying himself as one of the nation’s top college basketball prospects. 

As a result, he drew significant interest from the following top-tier college basketball programs:

  • Duke University
  • University of North Carolina
  • University of South Carolina
  • Syracuse University
  • University of Virginia

Jordan would ultimately accept a basketball scholarship from the University of North Carolina (Chapel Hill). There, he majored in cultural geography. 

College Basketball Career

The ACC named him Freshman of the Year after he averaged 13.4 points per game while shooting over 50% from the field. 

He even defeated future NBA All-Star Patrick Ewing and the Georgetown Hoyas in the 1982 NCAA Championship game. Jordan hit the game-winning jump shot, which he later proclaimed to be the major turning point in his basketball career. 

In both his sophomore and junior seasons, Jordan made the NCAA All-American First team.

He also won both the Naismith and Wooden College Player of the Year awards. 

Following his rapid success, Jordan left UNC one year before graduation to enter the 1984 NBA Draft. He did end up returning to UNC to complete his degree in 1986, though. 

Michael Jordan’s college basketball career was so successful that he made the ACC 50th Anniversary men’s basketball team in 2002, which honored the 50 greatest basketball players in ACC history. 

NBA Career

Michael Jordan began his storied NBA basketball career when the Chicago Bulls selected him with the 3rd overall pick in the 1984 NBA Draft.

The Bulls were able to draft Jordan after the Houston Rockets selected Hakeem Olajuwon and the Portland Trailblazers selected Sam Bowie.

While Olajuwon went on to have a storied career in his own right, the Trailblazers organization drew severe backlash for missing out on Michael Jordan. In addition, the fact that Sam Bowie had a largely underwhelming NBA career added insult to injury. 

Rookie Year With The Chicago Bulls

Shortly after, Jordan signed his rookie contract with the Chicago Bulls on September 12, 1984. He signed a seven-year, $6 million deal. The team’s drafting of Jordan alone skyrocketed fan interest and ticket sales. The Bulls were a largely unsuccessful team before his arrival, after all. 

Anyway, needless to say, Michael Jordan took the NBA by storm in his rookie year. He averaged a whopping 28.2 points per game while shooting over 50% from the field.

As his star shone brighter with every passing game, he became a fan favorite even in opposing arenas.

Jordan was so popular during his rookie year, in fact, that it irritated current NBA All-Stars. During the annual NBA All-Star game (which MJ made during his rookie year), NBA players like Isiah Thomas even refused to pass him the ball. 

They were allegedly uncomfortable with the level of praise Jordan received at such an early stage in his career. Nonetheless, Jordan continued his dominance and led the Bulls to the playoffs in his first year. 

Unfortunately, they would ultimately lose to the Milwaukee Bucks in the first round. But there was no denying it: The Chicago Bulls had a superstar talent on their hands. 

Post Rookie Year

Following his fifth season, MJ agreed to an 8-year, $25 million contract extension. At the time, it was the largest contract extension in NBA history, and rightfully so.

But, again, Jordan solidified himself as the best the game had to offer. For years, he routinely averaged 30+ points per game while also demonstrating his defensive prowess (he was named to the NBA All-Defensive first team nine times).

It’s hard to overstate how important MJ was to the Chicago Bulls. Not only did he help increase fan interest and ticket sales, but he helped turn the franchise into a legitimate title contender.

Baseball Stint and Hiatus From Basketball

Despite the Bulls’ massive success after winning three straight NBA titles between 1991 and 1993, Michael Jordan decided to retire from basketball. He left the game to try his hand at minor league baseball, a venture that was overall unsuccessful. 

He played for the Birmingham Barons, a Chicago White Sox affiliate, but he batted a measly .202.

Gambling Controversy

During his time playing baseball, Jordan also became embroiled in a gambling controversy.

It was alleged that he had racked up sizable gambling debts and even lost $1.25 million in a single day of golf.

Though he was never charged with any crime, the allegations took a toll on MJ’s image. He was seen as a role model for children, and many felt that his gambling habits set a bad example. 

Some believe that Jordan’s three-year hiatus had less to do with baseball and more to do with the gambling allegations. He needed time to repair his image before returning to the NBA.

These theories, however, have never been confirmed.

NBA Return

Michael Jordan would ultimately return to the Bulls in 1994, where he led the team to another three straight NBA titles from 1994-1996.

As a six-time NBA Champion and NBA Finals MVP, Jordan cemented himself as the greatest basketball player in NBA history. 

In his final two seasons with The Chicago Bulls, MJ averaged over 20 points per game. He rode off into the sunset when he defeated the Utah Jazz in the 1998 NBA Finals, giving him and the Bulls their sixth title.

Stint With The Washington Wizards

In 2001, Michael Jordan announced his second retirement from basketball. But he would return once again in 2001, this time as a member of the Washington Wizards.

At age 38, he was already considered past his prime. Nevertheless, he averaged over 20 points per game in both seasons he played for the Wizards. He finally retired for good in 2003.

He earned an unbelievable $93.7 million in NBA salary alone during his 15-year NBA career. Today, that would be the equivalent of having earned $161 million in salary after considering inflation. 

National Team Career

The 1992 Olympic Dream Team eventually led to the increase of the net worth of Michael Jordan

Michael Jordan’s National Team career was illustrious, to say the least. He first started playing for the team in 1984, and would continue to do so until he retired in 2003.

Throughout his tenure on the National Team, Jordan helped lead them to a number of impressive victories. For example, they won the gold medal at the 1992 Olympic games in Barcelona, Spain.

What’s more, MJ was named the MVP of the games. He averaged 31.1 points per game during those Olympics- a record that still stands today.

In 1996, he led the team to another gold medal victory at the Olympic games in Atlanta, Georgia. This time around, he was also named the MVP of the games- becoming only the second person ever to win that title twice.

Legacy

Michael Jordan is one of the most accomplished basketball players in history. He was a six-time NBA Champion, a five-time NBA MVP, and a three-time NBA Finals MVP. He also holds the record for the most points scored in an NBA Finals game.

Many different NBA legends have spoken about MJ’s unparalleled greatness. For example, Kobe Bryant once said “There’s no way you can compare anyone to MJ. He’s the Godfather of basketball.”

Larry Bird echoed these sentiments, saying “There will never be another Michael Jordan. He’s the best there ever was and the best there ever will be.”

When asked about MJ, Magic Johnson said “He was like a little brother to me. I loved him and I hated to play against him.”

Clearly, Michael Jordan’s legacy is one of unparalleled success and greatness. He is considered by many to be the greatest basketball player of all time.

Cultural Impact On Basketball

Michael Jordan is considered by many to be the greatest basketball player of all time. His skills on the court and his tenacity translated into an unprecedented level of success and popularity.

Jordan’s influence on basketball is undeniable. He raised the bar for what was possible and showed players that anything was possible with enough hard work. He also brought a level of excitement to the game that had not been seen before.

His legacy continues to this day. Players around the world aspire to be like Michael Jordan, and his influence can be seen in the way the game is played today. Thanks to Michael Jordan, basketball is a more exciting and popular sport than ever before.

Purchasing The Charlotte Hornets

The Charlotte Hornets were initially the The Charlotte Bobcats when Michael Jordan purchased the team

In 2010, Michael Jordan became the majority owner of the Charlotte Hornets (formerly The Charlotte Bobcats). At the time, he purchase an 80% stake in the NBA team for $175 million.

Just two years later, in 2012, Forbes estimated that the Charlotte Hornets were worth $300 million.

So, in just two years, Jordan more than doubled his initial investment. And, as of 2019, the Hornets are now worth an estimated $1.05 billion.

To date, this is easily Jordan’s most successful business venture. Not only did he make a killing on his initial investment, but he also turned the Hornets into one of the NBA’s most valuable franchises. 

His stake in the Charlotte Hornets will likely end up being the most profitable investment of his entire career.

NASCAR Team

Michael Jordan's net worth increased when he purchased a NASCAR team

In 2019, Michael Jordan became a part-owner of a NASCAR team. He joined forces with Denny Hamlin to form 23XI Racing, which fields the No. 23 Toyota Camry in the NASCAR Cup Series.

The move was considered a surprise because, typically, most team owners in NASCAR are white. In fact, Jordan is only the second black majority owner in NASCAR’s history.

The team is still relatively new, so it’s unclear how successful it will be in the long run. But, considering Jordan’s track record, it’s safe to say that 23XI Racing has a bright future ahead. 

His team famously signed Bubba Wallace, the only full-time black driver in NASCAR, to a multi-year contract.

Wallace made headlines in 2020 when he called for NASCAR to ban the Confederate flag at its events.

Michael Jordan’s Net Worth After Endorsement Deals

Although he boasts one of the most illustrious basketball careers of all time, this is not where most of MJ’s net worth comes from. Instead, the basketball mogul made most of his fortune after retiring from the game. 

Nike Deal

The net worth of Michael Jordan shot up when he signed his deal with Nike in 1984, while he also changed the sneaker game forever. 

What initially started as a bidding war between Nike and Converse ended with His Airness signing one of the most lucrative shoe deals of all time with Nike Shoes. 

Since signing his shoe deal in 1984, the Nike Air Jordan brand has been estimated at around $3 billion in value. 

In addition, Michael Jordan earned over $1.3 billion from the shoe deal: a far cry from his $90 million in NBA earnings. Not only did Jordan reset the shoe market forever, but he also put Nike on the map for good. 

At the time, Nike was not the household name it is today. Believe it or not, the company struggled to compete with more established basketball shoe brands like Converse and Adidas. Many even considered Converse shoes synonymous with the NBA. 

Air Jordan

The first rendition of the Air Jordan logo

Nike famously projected $3 million in Air Jordan shoe sneaker sales at the end of the four-year deal. But in the first year alone, Nike sold over $125 million worth of shoes!

This huge performance was no small part of Michael Jordan’s rising star but still impressive for the company.

In a poetic, full-circle moment, Nike would acquire Converse for just $309 million in 2003. They would also purchase Reebok for $3.8 billion a couple of years later. 

Altogether, Nike’s Jordan Brand deal put the rest of the shoe industry on notice forever.

Gatorade

A Michael Jordan Gatorade ad that led to a massive increase in his net worth

In 1991, Michael Jordan signed a $13 million deal with Gatorade. At the time, it was the most lucrative endorsement deal for any athlete in any sport.

The partnership was a match made in heaven as Gatorade was already the unofficial drink of the NBA. Not only did the deal help Gatorade, but it also propelled Michael Jordan’s net worth to new heights.

Over the years, Gatorade has released several different commercials and marketing campaigns featuring Michael Jordan.

In one of their most famous commercials, they even used footage of MJ getting cut from his high school basketball team. The commercial is meant to inspire people to never give up on their dreams.

In addition to the $13 million upfront fee, Michael Jordan also received a percentage of Gatorade sales. When all was said and done, he is estimated to have earned over $40 million from the deal.

Interestingly enough, Gatorade was actually not MJ’s favorite drink. He has said in interviews that he actually prefers Powerade. However, he still has nothing but good things to say about Gatorade and the partnership they forged together.

Hanes

After his lucrative deal with Gatorade, Michael Jordan signed an endorsement deal with Hanes in 1991. The deal was worth $2 million per year and ran for five years.

At the time, it was the largest deal ever for an endorser of Hanes products. The company hoped that MJ’s star power would help sell more undershirts and socks.

And boy were they right! Not only did Michael Jordan help boost sales for Hanes, but he also increased the company’s visibility.

The partnership was so successful that Hanes renewed the deal for an additional five years in 1996. All told, Michael Jordan earned $20 million from the Hanes endorsement deal.

Upper Deck

Michael Jordan has an investment in Upper Deck Entertainment

In 1992, Michael Jordan signed a five-year, $40 million deal with sports card company Upper Deck.

The deal was a game-changer for the sports card industry as it shattered all previous records for athlete endorsements.

In addition to the $40 million upfront fee, Michael Jordan also received a percentage of sales for every card sold. When all was said and done, he is estimated to have earned over $100 million from the deal.

Not only did the Upper Deck deal make Michael Jordan even richer, but it also helped legitimize the sports card industry.

Before MJ came along, sports cards were largely considered a hobby for kids. But with the backing of one of the world’s most famous athletes, Upper Deck managed to turn sports cards into a billion-dollar industry.

Today, Michael Jordan’s Upper Deck cards are some of the most valuable in the world. A rare card from his rookie year recently sold at auction for a staggering $738,000!

McDonald’s

In 1992, Michael Jordan signed a deal with McDonald’s to appear in their “Nothing But Net” campaign.

The partnership was a huge success as the commercial became one of McDonald’s most popular ever. It also helped increase sales of McDonald’s products by nearly 30%.

In addition to the commercial, Michael Jordan also made several appearances at McDonald’s restaurants around the country.

The partnership was so successful that it was renewed in 1996. Michael Jordan earned $18 million from his McDonald’s endorsement deal.

Interestingly enough, McDonald’s is one of the few endorsements that Michael Jordan has ever done for free. He has said in interviews that he only agreed to do the commercial because he was a big fan of McDonald’s food.

Coca-Cola

Michael Jordan’s endorsement with Coca-Cola is one of the most iconic endorsements in history.

The partnership began in 1993 and was a huge success. MJ helped promote Coke products around the world and even starred in a few commercials.

In addition to the commercials, Michael Jordan also made several personal appearances for Coca-Cola. He even helped open a few of their restaurants.

The partnership lasted for over a decade and Michael Jordan earned over $100 million from it.

Film and Television Career

Michael Jordan is not only one of the richest athletes in the world, but he is also one of the richest entertainers.

Over the years, he has featured in several hit movies and TV shows.

Space Jam (1996)

Space Jam was one of Michael Jordan's most successful projects

Space Jam is without a doubt one of the most popular sports movies of all time. It starred Michael Jordan and Bugs Bunny and was directed by Joe Pytka, who had also directed the iconic MJ commercial for Nike.

The movie was a huge success, grossing over $230 million at the box office. It also became a cult classic, with people regularly watching it on TV and quoting its lines.

What made Space Jam so special was the perfect mix of basketball and comedy. It was able to appeal to both kids and adults, with its light-hearted humor and exciting basketball action.

Michael Jordan himself was very involved in the making of Space Jam. He served as an executive producer and helped to cast the other actors in the movie.

He was also heavily involved in the marketing of the film, doing interviews and appearances to promote it.

Overall, Space Jam is considered one of Michael Jordan’s greatest achievements in Hollywood. Not only did it make a ton of money at the box office, but it also remains one of the most popular sports movies ever made.

Jordan Rides The Bus (2010)

An ESPN 30 for 30 on Michael Jordan was released called "Jordan Rides The Bus"

In 2010, ESPN aired a documentary called Jordan Rides The Bus. The documentary tells the story of Michael Jordan’s infamous stint in minor league baseball.

Jordan Rides The Bus is an excellent documentary and does a great job of telling the story of MJ’s failed baseball career. It features interviews with Jordan himself as well as with the people who were there at the time.

One of the highlights of the documentary is when MJ finally comes face-to-face with the man he replaced in baseball, Joe Black. It’s an intense scene as both men try to justify their decisions.

Overall, Jordan Rides The Bus is an excellent look at one of the most fascinating chapters of Michael Jordan’s life.

MJ has also made several appearances on popular TV shows and movies as himself, like “The Simpsons” and basketball classic “He Got Game.”

Altogether, MJ has earned over $300 million from his film and television career.

Like Mike (2002)

While the hit movie “Like Mike” technically didn’t feature Michael Jordan himself, it was inspired by his life and career.

The movie is about a young orphan who finds a pair of magic sneakers that give him the ability to play like MJ.

Like Mike was a huge box office success, grossing over $62 million. It received mixed reviews from critics but was a favorite among kids.

Lil Bow Wow, who played the lead role in the movie, did a great job of capturing MJ’s on-court style.

In addition to the movie, Michael Jordan also had his own line of “Like Mike” sneakers from Nike. The shoes were very popular and sold out quickly.

The “Like Mike” movie and sneakers were just another way for MJ to cash in on his incredible popularity.

Michael Jordan Becomes a Billionaire

In 2016, Michael Jordan became the first billionaire in NBA history. Not only did he become the first billionaire player, but he also became the first athlete ever to become a billionaire.

The Last Dance (2020)

"The Last Dance" was released at the heigh of the COVID-19 pandemic and followed Michael Jordan's final season with the Chicago Bulls

With the COVID-19 pandemic in full swing, many people tuned in to ESPN’s Michael Jordan documentary “The Last Dance” for inspiration. The “docu-series” tells the story of MJ’s final season with the Chicago Bulls and how they won their sixth championship.

Since its release in March 2020, “The Last Dance” has been a massive success. It has been viewed over 30 million times on Netflix and has received rave reviews from critics and fans alike.

Due to its timing, “The Last Dance” became a go-to source of inspiration for people who were struggling through the pandemic. Its message of resilience and perseverance certainly inspired millions during such a complicated time.

Michael Jordan has even said that he plans to donate all of the proceeds from the documentary to charity. This is a testament to MJ’s selfless nature and his dedication to helping others.

Feud With Scottie Pippen

In recent years, Michael Jordan’s feud with former teammate Scottie Pippen has made headlines.

The two have been estranged since Pippen didn’t take kindly to the way he was portrayed in “The Last Dance.”

Despite their feud, Scottie Pippen has spoken highly of Michael Jordan’s impact on the game of basketball in the past. He has said that MJ “changed everything” and that he was the “greatest player of all time.”

Frequently Asked Questions (FAQ) About Michael Jordan

Who is the richest basketball player ever?

The title of richest NBA player ever goes to NBA Hall of Famer, Michael Jordan. His net worth is an estimated $2.2 billion, which is more than any other basketball player in history.

Some of the richest players in the NBA today could give him a run for his money one day, like LeBron or Kevin Durant. But for now, Jordan remains on top.

What’s Michael Jordan’s net worth as of 2022?

As of 2022, Michael Jordan’s net worth is an estimated $2.2 billion.

Is LeBron James a billionaire?

Yes, Lebron James is a billionaire as of July 2022, when he became the first active NBA player ever to be a billionaire.

Does Michael Jordan still get paid from Nike?

Yes, Michael Jordan still gets royalties from Nike every year. In 2019, he earned $130 million from the deal.

Michael Jordan Net Worth 2022

As of September 2022, Michael Jordan’s net worth is estimated to be $2.2 billion. While that number is extremely high, that’s a $700 million decline from when Forbes last reported it in 2020. 

What caused the drop? Well, some suspect that it may have to do with the mysterious surge in GameStop stock prices earlier in the year. But the exact reason has not been made public.

The net worth of Michael Jordan has also exploded thanks to his purchase of the Charlotte Hornets in 2010. 

He bought the NBA franchise for $175 million, which proved to be a lucrative deal for him, as the value of NBA franchises has skyrocketed over the past decade.

Now, the franchise is worth around $1.5 billion. 

Aside from his most noteworthy investments and business moves, MJ also owns many restaurants across the United States and apparel and leisure brands. 

As a basketball legend, Michael Jordan will continue to rake in the dough long after his playing days are over.

Philanthropy

Michael Jordan is one of the most philanthropic athletes in history. He has given away millions of dollars to various charities over the years.

In 2010, he donated $5 million to the National Museum of African American History and Culture. In 2016, he gave $1 million to the NAACP Legal Defense Fund. And in 2017, he donated $2 million to Hurricane Harvey relief efforts.

MJ has also started his own foundation, the Michael Jordan Foundation, which is dedicated to helping kids in need.

Michael Jordan attends many charity events and often donates large sums of money to causes he cares about.

Personal Life

Michael Jordan is a father of five children and has been married three times. His first marriage to Juanita Vanoy ended in divorce in 2006. They had three children together: Jeffrey, Jasmine, and Marcus.

In 2011, Jordan married Yvette Prieto and they had two children: identical twins Victoria and Ysabel. The couple divorced in 2019.

Jordan is notoriously private about his personal life and rarely speaks about his relationships with the media. However, he has said that he loves being a father and that his kids are his “greatest accomplishment.”

When he’s not busy running his businesses or spending time with family, Jordan enjoys playing golf. He is an avid golfer and even has his own line of golf apparel.

Real Estate

Michael Jordan’s net worth wouldn’t be where it is today without his savvy real estate investments. 

He owns several homes, including a $7 million mansion in Highland Park, Illinois and a $12.4 million house in Jupiter Island, Florida. 

In addition to his primary residences, MJ also owns multiple vacation homes and properties around the world, including a $6 million estate in Connecticut and a $2.8 million condo in New York City.

Car and Plane Collections

Michael Jordan is also known for his love of luxury cars and private jets. 

He owns a $15 million fleet of planes, which includes a Gulfstream IV, a Citation X, and a Falcon 900. 

In terms of cars, MJ’s collection is estimated to be worth over $5 million. 

Some of his most expensive cars include a $1 million Ferrari Testarossa, a $400,000 Porsche 911 Turbo, and a $200,000 Lamborghini Diablo.

Key Takeaways

Now that you’ve learned how the net worth of Michael Jordan has grown to over $2 billion, let’s take a look at some of the most important lessons from his journey.

Trust The Game

Michael Jordan once said, “If you do the work, you get rewarded. There are no shortcuts in life.” In his mind, no matter who you are, you will get out exactly what you put in. 

This concept applies to any profession and any industry. If you do the work, you’ll get rewarded. “If you try to shortcut the game, then the game will shortcut you.”

Don’t Listen to The Noise

Michael Jordan once described the importance of not trying to please everybody. “I can’t live with what everyone’s impression of what I should or what I shouldn’t do.” 

Keep in mind, MJ faced a ton of pressure early on in his career. The NBA world expected many things out of an early 20-year-old. A major key to his success was avoiding the noise.

Failure is Positive

“Failure makes me work even harder.” This quote is a sentiment shared by some of the most successful entrepreneurs of our generation. 

Michael Jordan knows failure better than most. He famously didn’t make the Junior Varsity (Junior!) team in high school. He also didn’t enjoy much team success early in his career. 

But the adversity only made him push harder.

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2022

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