How Michael Jordan Spends His Billions

By on October 24, 2018 in ArticlesBillionaire News

Michael Jordan made about $94 million over the course of his career in the NBA, but that pales in comparison to the fortune he's amassed outside of his on-court earnings (nowadays, he makes more in one year from Nike royalties alone than he did during his whole NBA career). One of the few pro athletes to belong to the billionaire's club, he's got some of the most lucrative endorsement deals in the world of celebrity, and he reportedly still makes more than currently active NBA stars like Stephen Curry, Kevin Durant, and even LeBron James, despite having been retired for 15 years.

So how does a guy like Michael Jordan decide to spend some of his $1.65 billion net worth? He's made some fairly high profile purchases that the public's been privy to over the years. Like in 2010, when he purchased the Charlotte Hornets basketball team for $275 million. That particular purchase has become an extremely good investment for Jordan, since the team is now reported to be worth over $1 billion – and MJ owns a good 90 percent of it.

Jordan Brand via Getty Images

Then there's his private jet. Unlike most private jets, Jordan's is decked out with his own personalized graphics, from its Carolina blue color scheme to his own universally recognized superhero-like "Jumpman" logo on the rear wing, plus his famous jersey number 23.

In Florida, he dropped $12.8 million on what he's described as his "dream house." Nearby, he reportedly decided to build his own private golf course, simply because he didn't like how slowly his fellow country club members were used to playing. The course is called Grove XXIII (there's 23 again), and it's currently slated to open sometime next year. Naturally, he also has his own Carolina blue golf cart, also emblazoned with the Jumpman.

Jordan owns another $2.8 million home near Charlotte, North Carolina, and he's trying to sell his mansion in Chicago, currently listed at just under $15 million. It's been on the market for six years, and Jordan is reported to have paid $680,000 in property taxes alone since originally putting it up for sale.

Some of Jordan's other big expenditures have been philanthropic in nature. He's gifted millions to 23 different children's charities exclusively from the proceeds of lawsuits he's won against companies using his likeness without permission. Then in 2016, he cut big checks to the NAACP Legal Defense Fund and the International Association of Chiefs of Police's Institute for Community-Police Relations, and earlier this year he gave $2 million to Hurricane Florence relief in his native North Carolina.

He has a small stake in the Miami Marlins baseball team, having reportedly invested with a group formed by Derek Jeter.

Of course, no informal account of MJ's spending would be complete without at least a mention of his legendary gambling habits. As Charles Barkley once explained in an interview with Dan Patrick, Jordan is known to gamble anywhere from a hundred bucks to hundreds of thousands of dollars on one of his favorite pastimes, golf:

"We'd be playing golf with certain people, and we'd be playing a couple hundred dollars a hole. And he'd be playing some guy for, like, a $100,000. He's, like, 'Charles, pick that up,' Barkley said, imitating Jordan. "I'm like, 'This putt is for $200.' 'Pick that up, Charles. Get out of my way. You're in my line.' I'd say, 'Well, how much is that putt for?' He'd say, '$300,000.' I'd say, 'Let me get out of your line.'"

It's impossible to know what Jordan's career gambling earnings might be, since he's known to be a ruthless bettor on anything and everything. But it is clear that as the richest professional athlete of all time, he can afford to throw it around.

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