Michael Jordan was one of the greatest athletes in the history of professional sports. Over the past 31 years since he was drafted third overall by the Chicago Bulls in 1984, Jordan has been slowly building a large war chest of income and as the 2015 calendar year comes to an end, Michael Jordan’s net worth is now over a billion which makes him No. 513 on the list of United States billionaires.
Michael Jordan’s Net Worth as of 2016: $1.1 Billion
Here is a look at how Jordan got his mass wealth which didn’t come from the basketball court for the most part.
1984 – 1995
Before Jordan’s first game with the Bulls, Nike offered Jordan a contract worth $500,000 each year plus royalties. During most of his playing career with the Bulls, Jordan didn’t make a ton of money with his highest salary being $4,000,000 during the 1992-93 and 1993-94 seasons. Jordan didn’t even play during that 93-94 season after retiring from the Bulls on October 6, 1993. During that time however, Jordan won four NBA championships in Chicago.
1996 – 1998
Before the 1996-97 season, salaries around the NBA went through the roof and Jordan’s $3,850,000 salary during the 1995-96 season went up to $30,140,000 the following year before he got $33,140,000 during his final season in Chicago during the 1997-98 campaign where Jordan and the Bulls would win their final two championships for a total of six overall.
1998 – 2003
Jordan returned from the Bulls on January 13, 1999 but continued to make money from his many endorsement deals. Jordan would return to the NBA during the 2001-02 season as he signed with the Washington Wizards where he would play for two seasons and make just $2,030,000. Jordan would retire on April 17, 2003 after making just over $90 million during his playing career.
2003 – 2010
Jordan would stay out of the public eye on the playing court but bought a stake of the Charlotte Bobcats for $175 million that year. It would turn into his most worthwhile investment as time went on and would make himself significantly more money than he would ever make playing basketball.
2013 – 2014
Jordan increased his ownership stake in the team from 80% to 90% in 2013 and then in 2014, the value of owning a NBA franchise went through the roof after the Los Angeles Clippers were bought for $2 billion. That increased how much Jordan’s piece of the Bobcats was worth to $500 million according to Forbes. While his Bobcats and now Hornets franchise hasn’t won any titles, the money that has been gained from the Clippers’ sale is just helping Jordan’s bottom line on a daily basis.
With his current endorsement deals with Nike, Gatorade, Hanes and Upper Deck, Jordan’s net worth has now reached $1.1 billion and will continue to rise as NBA team values continue to rise and Jordan remained one of the most recognized basketball players on the planet still to this day. Who knows what Jordan will go after next especially being a billionaire but in the world of finance, Jordan has made a name for himself.
January 14, 2016: Jordan Brand unveiled the first look at the Air Jordan XXX sneakers, the 30th original sneaker from the most iconic basketball shoe ever invented.