Michael Jordan Net Worth
Michael Jordan net worth, salary and career earnings: Michael Jordan is a retired American basketball player and entrepreneur who has a net worth of $1.9 billion. Even though Michael has not played basketball professionally in over a decade, he still earns an estimated $80-100 million per year from endorsements and various other business ventures. Michael 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 which happened from 1996 – 1998 while he was playing for the Chicago Bulls. In that season he earned $33.14 million which is the same as earning $53 million per year in today's inflation-adjusted dollars. Michael is the majority owner of the Charlotte Hornets NBA team. This investment, as we detail in a minute, is what made him a billionaire.
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. He earned a total of $97.3 million in salary during his time as an NBA player. Amazingly, today he typically earns far more in a single 12 month period from endorsements than he earned in his entire NBA career from salary.
Michael has been married to Cuban-American model Yvette Prieto since April 2013. She gave birth to their identical twin daughters in February 2014. He has three other children from his previous marriage.
Endorsements: 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.
Nike Deal And Annual Royalties: 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 worn 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 the controversy 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 generated $100 million in revenues for Nike. Today, 58% of all basketball shoe sales are Air Jordans and the brand generates over $2.5 billion in annual sales for Nike.
As we mentioned previously, Michael Jordan's annual Nike royalty check typically comes in around $60 million. However, in a number of years his royalty check has topped $100 – $120 million.
Juanita Jordan Divorce Settlement: Michael married Juanita Vanoy in September 1989. They had three children together. When Michael filed for divorce from Juanita Jordan in 2002 after 13 years of marriage, he was ultimately forced to pay her a whopping $168 million divorce settlement. It was one of the most expensive divorces in history. The settlement included cash, stocks and the value of their various real estate holdings.
Real Estate: Michael's primary residence today is a lavish mansion in Jupiter, Florida. The 26,000 square foot, 11 bedroom home sits on three acres located within Jack Nicklaus' ultra-exclusive Bear's Club community. He bought the lot in 2011 for $4.8 million, then spent two years and $7.6 million constructing a dream home. He also owns a $3 million lake home in Charlotte, North Carolina and a luxury condo in the city so he can be close to his Hornets. He reportedly also owns a property in Salt Lake City, Utah.
Back in Chicago, Michael still owns a large mansion in Highland Park. Michael purchased a lot in Highland Park in 1991 and quickly set about building his dream home. The end result was a 7-acre property whose main house alone is 32,683 square feet. The house has nine bedrooms, 15 bathrooms, an NBA-quality basketball court, pool pavilion, 15-car garage, card room, tennis courts, PGA-quality putting green, cigar room, wine cellar… and so much more. Michael listed the house for sale in 2013 for 429 million. In May 2015 the price was reduced to $14.8 million. It has yet to find a buyer:
Michael Jordan Becomes A Billionaire
In June 2014, it was revealed that Michael had increased his ownership stake in the Bobcats (today known as the Hornets) from 80% to 89.5%. He bought his original stake from BET founder Robert Johnson for $175 million. Based on the most recent valuation estimates, the Hornets are worth a minimum of $1.3 billion. Therefore, MJ's 90% stake is worth around $1.2 billion before taxes. When you combine this with Michael's additional wealth, his total net worth is a shade over $1.9 billion. Read here for more info: Michael Jordan is a Billionaire.
Michael Jordan Salary History
- 84-85 Chicago Bulls $550,000
- 85-86 Chicago Bulls $630,000
- 86-87 Chicago Bulls $737,500
- 87-88 Chicago Bulls $845,000
- 88-89 Chicago Bulls $2 million
- 89-90 Chicago Bulls $2.25 million
- 90-91 Chicago Bulls $2.5 million
- 91-92 Chicago Bulls $3.25 million
- 92-93 Chicago Bulls $4 million
- 93-94 Chicago Bulls $4 million
- 94-95 Chicago Bulls $3.85 million
- 95-96 Chicago Bulls $3.85 million
- 96-97 Chicago Bulls $30.14 million
- 97-98 Chicago Bulls $33.14 million
- 01-02 Washington Wizards $1 million
- 02-03 Washington Wizards $1.03 million
- Career: $93.7 million
Michael Jordan owns a $50 million customized Gulfstream IV private jet that shuttles him to and from houses all over the world.
Michael Jordan Net Worth Milestones: We first added Michael Jordan to Celebrity Net Worth in September 2009 with a net worth of $500 million.
- 2009: $500 million
- 2013: $650 million
- 2014: $1 billion
- 2016: $1.1 billion
- 2017: $1.2 billion
- 2018: $1.5 billion
- 2019: $1.9 billion
|Net Worth:||$1.9 Billion|
|Date of Birth:||Feb 17, 1963 (56 years old)|
|Height:||6 ft 5 in (1.98 m)|
|Profession:||Basketball player, Athlete, Spokesperson, Entrepreneur, Actor|
|Nationality:||United States of America|
Michael Jordan Earnings
- Washington Wizards (2002-03)$1,030,000
- Washington Wizards (2001-02)$1,000,000
- Chicago Bulls (1997-98)$33,140,000
- Chicago Bulls (1996-97)$30,140,000
- Chicago Bulls (1995-96)$3,850,000
- Chicago Bulls (1994-95)$3,850,000
- Chicago Bulls (1993-94)$4,000,000
- Chicago Bulls (1992-93)$4,000,000
- Chicago Bulls (1991-92)$3,250,000
- Chicago Bulls (1990-91)$2,500,000
- Chicago Bulls (1988-89)$2,000,000
- Chicago Bulls (1987-88)$845,000
- Chicago Bulls (1985-86)$630,000