Michael Jordan Joins The Forbes 400, Worth $3 Billion
Jordan remains the wealthiest athlete in history after combining his legendary career in the NBA with some of the largest commercial deals ever off the court.
The most famous of these brand partnerships is undoubtedly with Nike, which continues to make millions of dollars from his trademark Jordan Brand.
The most recent yearly royalty payment from Nike to the former Chicago Bulls player was allegedly worth over $260 million. He reportedly receives 5% of all sales of his well-known Air Jordan sneakers, which were first introduced in 1984.
According to Nike’s most recent annual report, the Jordan Brand generated $6.6 billion in wholesale revenue annually, a 28.6% increase over the prior year.
Jordan has lucrative contracts in place with companies like McDonald’s, Gatorade, and Hanes. Over the course of his 15 seasons in the NBA, he earned $94 million on the court.
He is now one of the wealthiest people in the United States thanks to his stunning selling of the Hornets for almost 17 times its original worth.
Along with fellow basketball sensation LeBron James and golfing legend Tiger Woods, he is one of only three sportsmen in history to achieve this feat; however, the other two did so while their respective careers were still in progress.
After waving goodbye to the Hornets in August, Jordan insisted his love for basketball remains as solid as ever.
‘Now is the right time for me to hand over the reins and focus on my family, my personal interests, and some new challenges,’ he said. ‘I’m excited to see what the future holds, and I look forward to supporting the team and the community in my new role for many years to come.
‘This is a Thank You, not a goodbye, because the state of North Carolina, the city of Charlotte and the Hornets will always have a special place in my heart.’
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