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Michael Jordan the businessman is giving Michael Jordan the basketball icon a run for his money. “Air Jordan” is arguably the greatest player to play the game. The records speak for themselves while the NBA even named the MVP award after his name.
In 15 seasons of pro basketball, “His Airness” earned $93.8 million. In nearly 30 years with Nike, he has reportedly added a staggering $2 billion to his bank account.
Michael Jordan’s decision to sell his majority ownership of the Charlotte Hornets was the icing on the cake. After the sale was made official, Jordan’s already burgeoning wallet was fattened by another $3 billion.
$5 billion+ for any businessman is a jaw-dropping amount, let alone from a former basketball player who couldn’t even breach $100 million in 15 seasons.
The Jordan brand is where “His Airness” really made a killing in business. Nike has become a juggernaut in large part to Jordan’s line of shoes. In 2020, MJ’s brand reportedly had a $3.6 billion revenue, followed by $4.7 billion and then $5.1 billion last year. It’s only fair that the Chicago Bulls legend is well-compensated.
It’s safe to say that Michael Jordan’s sneaker line isn’t slowing down any time soon. Many are bullish that the company will reach bigger figures than last year once the current year ends.
Last year, the Jordan brand topped $5 billion for the first time. It means that “His Airness” pocketed $150 million from Nike, nearly twice his career earnings.
Michael Jordan and the sale of the Charlotte Hornets
Michael Jordan became a majority owner of the Charlotte Hornets in 2010 when he bought it for $275 million. In 13 years with Jordan at the top of the franchise, the Hornets made it to the playoffs just twice.
Charlotte was swept by the Miami Heat in 2014 and lost by a seven-game thriller to the Heat yet again in 2016. The Hornets owned a 423-600 record in regular season games during that span, the 26th worse during that stretch.
The six-time NBA champ approved and often made the basketball decisions of the team. From drafting, trading, re-signing and waiving players, Jordan was all aware of it.
The former North Carolina superstar was nearly unbeatable as a player. As an owner, he seemed to be so bad that even Charles Barkley had to point it out to him. The two former close friends haven’t spoken to each other for more than a decade because of Barkley’s comments that MJ didn’t take well.
After 13 years of getting trolled and criticized as the majority owner of the Charlotte Hornets, it seems like Michael Jordan had the last laugh. He has $3 billion reasons to believe those years weren’t all in vain.
