Michael Jordan net worth: Michael Jordan is a former American basketball player and one of the most famous people on the planet who has a net worth of $650 million. Even though Michael has not played professionally in over a decade, he still earns an estimated $80 million a year from endorsements. He earns $60 million every year from Nike-Jordan brand royalties alone. During his playing days, Jordan set sport records by being the first athlete to earn over $30 million per year in salary alone which happened from 1996 – 1998 while playing for the Chicago Bulls. He also starred in the 1996 movie Space Jam and is a part owner of the Charlotte Bobcats NBA franchise. Jordan led the Chicago Bulls to 6 NBA championship titles. He is a five-time league MVP, he holds the record for highest career scoring average of all time and was inducted into the Hall of Fame on September 11th 2009. Throughout his impressive career and even through to the present, Michael Jordan has been a spokesman for many corporate brands including Nike, Gatorade, Wheaties, McDonald's, Coca-Cola, Chevrolet, Ball Park Franks, Rayovac, Hanes, and MCI.
Before Michael Jordan, the largest celebrity shoe endorsement contract in the world was James Worthy's $150,000 annual deal with New Balance. In 1984, Jordan shattered all endorsement records when Nike agreed to pay him $500,000 per year for five years. Jordan also received Nike stock options which brought his total compensation to $7 million over five years. Prior to signing the deal, Michael had never won a pair of Nike shoes in his life and had been hoping to sign with Adidas, but Nike's offer was too rich to match. When he debuted the shoes, they violated the NBA's uniformity restrictions. Nike paid all the league's fines and used them to build excitement around the brand. The Air Jordan shoe first appeared in stores in March 1985 and two months later had sold over a million pairs. Within the first year Air Jordan produced $100 million in revenues. Today, 58% of all basketball shoe sales are Air Jordans and the brand produces over $2.5 billion in annual sales for Nike.
When Michael divorced his wife of 13 years Juanita Jordan in 2002, he was forced to pay her a whopping $168 million divorce settlement. It was one of the most expensive divorces in history and included the couple's $29 million, seven acre suburban Chicago mansion.
Michael Jordan Salary History
Michael Jordan owns a $50 million customized Gulfstream IV private jet that shuttles him to and from houses all over the world: