Michael Jordan Net Worth Here's How He Makes and Spends His Millions

Publish date: 2024-05-14

Michael Jordan turned 60 this week.

Bryan Steffy/WireImage

MJ celebrated his birthday by making a record-breaking $10 million donation to the Make-A-Wish Foundation. It is the largest donation from an individual in the 43-year history of the charity. This was just the latest philanthropic move made by the world's first athlete-billionaire. But while MJ has been generous with his fortune, he has also splurged on himself. 

Michael Jordan made less than $100 million in NBA contracts.

Michael Jordan attends a press conference for the celebration of the 30th anniversary of the Air Jordan Shoe. Catherine Steenkeste/Getty Images

Michael Jordan made less than $100 million in NBA contracts as the league's greatest player of all time, but that hasn't stopped him from becoming a billionaire with an estimated net worth of $1.7 billion, according to Forbes.

Jordan was part of a $305 million investment in Dapper Labs, the startup behind the virtual trading card platform NBA Top Shot

Dapper Labs had a $2.6 billion valuation after the round, a source close to the company said. NBA Top Shot

In March 2021, Jordan was part of a $305 million investment in Dapper Labs, the startup behind the virtual trading card platform NBA Top Shot. Other investors included Will Smith, Kevin Durant, and 2 Chainz.

The blockchain-based NFT company has since fallen on hard times as the broader crypto markets have cratered and is reportedly laying off 22% of its staff, according to Dapper Labs CEO Roham Gharegozlou.

Jordan also donated $2 million of his earnings from his 2020 docuseries "The Last Dance"

Michael Jordan donated money to support communities during the COVID-19 pandemic. ESPN Films/Netflix/Mandalay Sports Media/NBA Entertainment

Jordan also donated $2 million of his earnings from his 2020 docuseries "The Last Dance" to Feeding America's food banks in Chicago and the Carolinas. "In these challenging times and in a year of unimaginable difficulty due to COVID-19, it's more important than ever to pause and give thanks," he said in a statement.

MJ reportedly made $4 million from the series and donated all of it to charities.

Michael Jordan. ESPN

Source: Nathan Baugh

In 2020, Jordan and Nike's Jordan Brand pledged to donate $100 million over 10 years to organizations fighting for 'racial quality, social justice, and greater access to education.'

Michael Jordan is actively donating to organizations fighting for racial quality. Marcio Jose Sanchez/AP Images

The June announcement came amid nationwide Black Lives Matter protests over the killing of George Floyd.

Jordan bought a stake in DraftKings and its stock soared.

AP Photo/Thibault Camus

DraftKings announced in September 2020 that Jordan took an equity stake in the sports betting company, along with a special adviser role. The company's shares surged 12% immediately following the announcement.

His income has soared since retiring from basketball.

AP

The money moves come as no surprise as his income now is way more than his total playing salary during his career. He earned $90 million total in NBA salary, and about $63 million of that came in his final two seasons with the Chicago Bulls.

His $1.7 billion net worth is due, in large part, to the value of his NBA team, the Charlotte Hornets ...

NBA commissioner Adam Silver, left, and Charlotte Hornets owner Michael Jordan, right, pose for a photo during a news conference to announce Charlotte, N.C., as the site of the 2017 NBA All-Star basketball game. AP Images/Chuck Burton

Source: Money

... and the Jordan Brand. He was reportedly still making $100 million annually from Nike royalties alone in recent years.

AP

Source: Business Insider

Nike founder Phil Knight called signing Jordan the best decision he ever made, nabbing the NBA rookie for $250,000 a year in 1984.

Christian Petersen/Getty Images

Source: Business Insider

Jordan reportedly wanted to sign with Adidas in 1984, but they passed because they preferred NBA players who were 7 feet tall.

Daniel /Allsport

Source: Business Insider

Nike's Jordan Brand alone now brings in roughly $3.6 billion in revenue each year.

NBA legend Michael Jordan holds up an autographed AJ19 shoe, the latest design in the Air Jordan shoe line, at a Hong Kong news conference. Anat Givon/AP Photo

Source: Forbes, Business Insider, Los Angeles Times

Nike's Jordan Brand has even partnered with the popular video game 'Fortnite.'

"Fortnite" players can unlock two new skins, Grind and Clutch, by purchasing the Hang Time bundle. "Fortnite"/Epic Games

Source: Business Insider

Jordan did sell a minority stake in the club in 2019, but he reportedly has no interest in giving up control of the team.

Streeter Lecka/Getty Images

Source: Charlotte Observer

Nowadays, he still has several endorsement deals with companies like Gatorade ...

Ezra Shaw/Getty

Source: Business Insider

... trading card company Upper Deck ...

Susan Ragan/AP Photo

Source: Business Insider

... and Hanes. He's been a spokesman for the company for nearly 30 years.

YouTube/Hanes

Source: Business Insider

Jordan said he has always been picky about his endorsements.

Amazon

He wanted to be genuine and also build his own brand. He once rejected a huge endorsement deal with Beanee Weenee because he didn't like the name.

Jordan told Playboy, 'How can I stand in front of a camera and say I'll eat Beanee Weenees?' He said the deal was close to $1 million per year — at the time, he had made less than $5 million in career earnings.

... Michael Jordan's Steakhouse, which has locations in Connecticut, Washington, and Chicago ...

Steve Kagan/Contributor/Getty Images

Source: Michael Jordan's Steakhouse

Jordan also is one of many celebrities to start a tequila business.

Michael Jordan's tequila company opened in 2019. Rachel Askinasi/Business Insider

In 2019, Jordan and a team of four others created Cincoro tequila.

He also owns a Nissan dealership in Durham, North Carolina.

Nissan signs are seen outside a Nissan auto dealer in Broomfield, Colorado Google Maps

Source: Business InsiderMichael Jordan Nissan

He spent $12.8 million building his dream house in Florida in 2012.

Google Maps

Source: YahooBusiness Insider

He also has a $2.8 million house near Charlotte.

http://www.realtor.com/realestateandhomes-detail/18227-Capstan-Greens-Rd_Cornelius_NC_28031_M59685-34239 and Getty Images

Source: Business Insider

But 10 years later, the house is still on the market, and the price is down to $14.9 million.

Realtor.com

Luxury real estate brokers think the amount of customization the house has undergone in order to become Jordan's personal palace is one of a few reasons why the property hasn't sold yet.

They also list the mismatch of location and price as a possible reason — homes in the Highland Park area have a median value of $476,391. Homes at the price point Jordan is listing are typically located closer to Lake Michigan.

It is estimated that Jordan has paid more than $680,000 in property taxes since he put the house up for sale.

Zillow

Source: Business Insider

In 2016, Jordan won a case against a Chinese sportswear company that was using his Chinese name.

Aly Song/Reuters

The company had been using a logo similar to Jordan's Air Jordan logo, and the symbols used spell out his name in Chinese — Qiaodan Sports. He first sued the company in 2012, but lower-level courts ruled in favor of the company.

That's, however, not the only lawsuit he's been involved in that pertained to his name and branding.

Basketball Hall of Famer Michael Jordan arrives at the federal courthouse in Chicago, Tuesday, Aug. 18, 2015. AP Photo/Christian K. Lee

Two supermarkets, Dominick's and Jewel-Osco, associated themselves with Jordan without his permission. Jordan sued and won millions. But he didn't keep all the money. Instead, he donated millions to 23 charities benefiting the children of Chicago.

In 2016, Jordan also pledged two large donations to the NAACP Legal Defense Fund and the International Association of Chiefs of Police's new Institute for Community-Police Relations.

Streeter Lecka/Getty

This came after a string of police-involved shootings.

In 2018, he donated $2 million to Hurricane Florence relief efforts.

A convoy of utility trucks heading east to assist with damage caused by tropical storm Florence. AP Photo/Chris Seward

Source: Chicago Tribune

In 2019, he pledged $7 million to open two medical clinics in Charlotte.

Chuck Burton/AP

Source: Business Insider

Jordan's recent endeavor is his own private golf course.

Isaac Brekken/Getty Images for Michael Jordan Celebrity Invitational

Jordan's recent endeavor is his own private golf course, Grove XXIII — keeping with his obsession with the No. 23. It opened in the fall of 2019 in Hobe Sound, Florida.

Jordan is also now a NASCAR owner.

Bubba Wallace will make his debut on Michael Jordan's NASCAR team at the Daytona 500. Chris Graythen/Getty Images

In the same year, Jordan teamed up with driver Denny Hamlin to become a NASCAR Cup Series team co-owner. Together, they formed 23XI racing, and Bubba Wallace was their first driver. They added a second car in 2022.

The pair married in 1989 and divorced in 2006. The 17-year marriage cost Jordan a whopping $168 million in the settlement.

Pictured above are Michael Jordan and his then-wife Juanita. Reuters

Source: BiographyNBC Chicago

Jordan's three oldest children have all followed their father into the shoe business.

Jasmine M. Jordan/Instagram

Jeffrey, the oldest, works at Nike in Oregon, and Jasmine, the youngest, has worked for her father's NBA team, as well as being an Air Jordan representative in Charlotte.

Jordan married Yvette Prieto in 2013, and they welcomed twin daughters, Victoria and Ysabel, in 2014.

Ethan Miller/Getty Images

Source: USA Today

Jordan has invested some of his fortune in tech startups.

Gigster cofounders Debo Olaosebikan, left, and Roger Dickey, right. Gigster

He was reportedly one of several celebrities who invested heavily in Gigster — a Silicon Valley startup connecting companies to freelance software developers, designers, and project managers.

He also bought a stake into an MLB team.

Tony Ding/AP

He also bought a stake in an MLB team — the Miami Marlins — having been a part of the investment group that included Derek Jeter, who has since divested. It is not clear if Jordan sold his portion.

He also used to play $100 post-practice shooting games that allegedly ruined Rodney McCray's career.

Pictured above is Rodney McCray. Jonathan Daniel /Allsport

MJ would reportedly taunt McCray by yelling: "You're a loser! You've always been a loser!'

He even took $500 from a fan at a charity golf tournament when the fan said Jordan couldn't land the ball on the green.

Isaac Brekken/Getty

Source: deepac66 via YouTubeGolf Digest

And he reportedly cheated in some bets with his teammates to make sure he won.

John Swart/AP

ESPN's Amin Elhassan said Jordan would bet his teammate, Scottie Pippen, on the outcome of mid-game, animated Jumbotron races, even though Jordan already knew which animated character would win.

Jordan plays a lot of golf. But, as Barkley put it, what's the point in playing the sport if not for some cash?

Isaac Brekken / Getty

Source: Dan Patrick Show

He started playing the game while at UNC in a threesome with his then-roommate, golfer Davis Love III.

Cliff Hawkins/Getty Images

Source: Business Insider

Jordan reportedly never travels overseas without a security team.

AP

The security sets him back a cool $1,000 to $1,500 per hour. His codename is reportedly 'Yahweh,' a Hebrew word for God.

The very first cars Jordan bought after he received his reported $10 million signing bonus from the Chicago Bulls were a collection of Mercedes and Pontiacs.

He bought his siblings a Pontiac Firebird Trans Ams, though the exact car is not pictured here. Steve Lagreca / Shutterstock

He bought seven cars at once for himself and his family members.

Since his rise to fame, he's been spotted in all kinds of cars, from Ferraris to Land Rovers.

BRIAN BAHR/Stringer/Getty Images

Source: Cheat Sheet

Jordan is well known for his love of cigars and told Cigar Aficionado magazine that he smokes six a day.

Donald Miralle/Getty Images

Source: Cigar Aficionado

His post-basketball career is already influencing the next generation.

Evan Agostini/Invision/AP

Several current and former players have expressed interest in buying NBA teams, including LeBron James, who wants to own an expansion franchise in Las Vegas.

ncG1vNJzZmivp6x7o8HSoqWeq6Oeu7S1w56pZ5ufonyutcKhmJ6kXZ%2B8s7DAp2SnnaRixLC%2B06FksKGWmnqitdFmoaiqlJa7tHnNoqKe