Michael Jordan, also known as MJ is a retired professional basketball player from the United States of America. There are numerous millionaire athletes in the world but very few are billionaire and he is one of them.
According to the Forbes, his total net worth in 2017 is $1.39 billion. With his net worth, he is one of the top 500 billionaires in the United States.
Sources of wealth
Though Jordan's career is long gone, he still earns a gigantic amount of money per year from his several endorsements and business deals.
He earns more money in a year now than his total career salary, which was $90 million.
1.Longtime deal between Nike and him
In 1980, Nike had decided to make Jordan the face of the company. Jordan earns an amount of $100 million per year from the deal, whereas Nike generates nearly $3 billion in annual revenue from the Jordan Brand.
2.Ownership of Charlotte Hornets with 90% stakes on his name
Jordan owns a majority stake in the NBA team Charlotte Hornets. The stakes bought by him in 2010 are now worth US$780 Million.
Charlotte Hornets is one of the main reasons behind his transformation from millionaire to billionaire. Charlotte Hornets had made US$158 million revenue last year.
3.Other endorsements and sources of his income
Jordan owns seven fine dining restaurants and a car dealership in North Carolina. He also has several other endorsement deals with Gatorade, Hanes and Upper Deck, 2K Sports and Five Star Fragrances from which he makes decent amount of money.