How Michael Jordan's net worth reached $1 billion: Tracing the rise of the first NBA billionaire player

Back in June 2014, Michael Jordan's net worth reached a total of one billion dollars.

Along with being arguably the greatest NBA player ever, the Chicago Bulls legend had great success in the business world. No other professional athlete ever accomplished what Jordan had done at the time.

Since this record-breaking milestone, Michael Jordan's net worth has more than doubled and the six-time Finals MVP is now worth over $2.2 billion. His biggest business venture now is the NBA franchise, the Charlotte Hornets, of which he is a majority owner.

The rise of Michael Jordan's net worth over time

Michael Jordan's net worth did not reach record-breaking heights instantaneously. Instead, it was a slow process that took time to build.

Back in 2009, the NBA legend was only worth $500 million. By 2013, that number jumped to $650 million. It eventually broke the one billion mark a year later.

Since then, the former Chicago Bulls guard's value has continued to slowly blossom. Four years after reaching one billion, he was already worth $1.5 billion. By 2020, Jordan was worth $2 billion.

Michael Jordan's net worth spiked after his life in basketball

In today's landscape, professional athletes are making more money than ever before. This is especially true in the NBA, where contracts reach record-breaking highs on a yearly basis.

This wasn't the case during Michael Jordan's time. Between his time with the Bulls and the Washington Wizards, he reached a career-earning total of just over $93 million. To put that into perspective, LeBron James signed a two-year extension with the LA Lakers this past offseason worth $97 million.

Despite being beyond today's players in terms of contract size, Jordan still managed to be the first athlete to be worth one billion dollars. This is due to his many endorsements.

As expected, Jordan's biggest endorsement deal is the one he has with Nike. Dating back to his playing days, his signature shoe was a must-have for all basketball fans. They are still a staple and fly off the shelves today.

After Nike, Jordan's next biggest endorsement deal was with Gatorade. It was during their time together that the phrase "Be like Mike" was brought to light. Other brands he's partnered with over the years also include McDonald's, Wheaties, Coca-Cola, and 2K sports.

Michael Jordan was always known for his competitiveness and will to win during his time in the NBA. After his time with basketball came to an end, he managed to continue to see great success in the world of business.