Michael Jordan has hit as big in life as any professional athlete can hope to. He has set a blueprint that athletes around the world will follow, as Jordan’s success in selling shoes and apparel under his own name made him a billionaire.
His deal with Nike reportedly nets Jordan $6 million in just 8.6 days, according to Boardroom. In contrast, Jordan earned $6 million over the first seven years of his NBA career.
The impact of Jordan shoes on popular culture cannot be understated. They have long surpassed the shoes that people buy to play basketball. Most Jordan shoes are used as lifestyle shoes and are among the most desirable shoes in the world.
Jordan’s name will forever be linked to one of the defining aspects of urban culture, as everyone wants to wear Jordan’s shoes. That is why the Jordan Brand firmly established itself as the second-biggest sneaker brand in the world behind parent company Nike.
Michael Jordan’s Deal With Nike
The deal that Jordan got with Nike solidified him on the path to becoming a billionaire, a status he would reach after his playing career was over. In 1997, Nike and Jordan announced the formation of the Jordan Brand, which led to the launch of the iconic brand.
In 2022, the Jordan Brand brought in over a billion dollars for Nike. Jordan personally got to net over $150 million just from sales in the last year alone.
Jordan Brand is expanding rapidly and has a host of young NBA talent on its roster that could grow with them. Luka Doncic, Jayson Tatum, and Zion Williamson have become the faces of the brand, as it is betting on long-term growth along with these players.
It’s unlikely that these players replicate a success story like Jordan’s, but all of them will hope that their shoes can reach even a fraction of the relevance that Jordan’s shoes reached.
Michael Jordan’s Net Worth
Michael Jordan is one of the richest men in the world, boasting a net worth of over $3.5 billion, according to recent reports. The biggest addition to his net worth has come from his sale of the Charlotte Hornets, as he finally steps away from owning a franchise in the NBA. With his additional money, Jordan could reinvest in various other ventures and make even more money.
One of Jordan’s passion projects has been his NASCAR team, 23XL Racing. While this is another sporting venture where Jordan isn’t the most successful at the ownership, it is a passion project that he’s spending a lot more time focusing on.
Jordan’s net worth isn’t spread out across hundreds of businesses as someone like Shaquille O’Neal, but he has some massive investments. With the amount of money he made by selling his majority stake in the Hornets, everyone will be wondering if the Bulls star will be in the news soon as a major investor.
He may not return to NBA ownership in any capacity, but fans and the league would love to have him. Given how LeBron James dreams of owning a team one day, it’ll be wonderful to see James and Jordan continue competing with each other but as Governors of NBA franchises.
