Ever since Michael Jordan first stepped onto the NBA basketball court in 1984, earning astronomical numbers has been easy for him. During his 15 seasons in the NBA, he earned $94 million and was the league’s highest-paid player in 1997 and 1998.
However, Jordan also earned more off the court, earning an estimated $2.4 billion (before taxes) during his career with brands like McDonald’s, Gatorade, Hanes and, of course, Nike, where his last annual check was around $260 million dollars.
Jordan achieved his biggest result in August of this year, when he sold his majority stake in the Charlotte Hornets at a price of three billion dollars. Even if he sold at the latest estimate, about $1.7 billion in 2022, that would be a huge financial success for the 60-year-old Hall of Famer.
Instead, the NBA’s 27th-most valuable franchise was sold for the second-highest sale price in league history, nearly 17 times its value when Jordan became principal owner in 2010.
That success is truly unique. With an estimated net worth of three billion dollars, Jordan made the Forbes 400 list, marking the first time a professional athlete has ranked among the richest people in America.
“Michael is one of the few people who has achieved success three times,” says Ted Leonsis, owner of the Washington Wizards, Mystics and Capitals, who has repeatedly partnered with Jordan in investments and sports deals.
“Many entrepreneurs succeed once. They have a big win, take their winnings, retire and we never hear from them again, or they try something a second time and it doesn’t work. He’s had three huge successes,” he said, referring to Jordan’s accomplishments as an athlete and owner, as well as the growth of the Air Jordan brand at Nike.
The odds of a professional athlete becoming a billionaire are still very rare; only three people succeeded in doing so. Jordan was the first to reach the milestone in 2014, followed by LeBron James and Tiger Woods, both of whom are still active in their careers.
Therefore, due to rising sports salaries and increasing opportunities for athletes outside of their sports careers, more athletes are likely to join the ranks of those who have earned a billion dollars during their careers, as evidenced by the seven athletes who have already reached this milestone, Forbes reports.
E.Dz.
