Golden Jordan: How the legendary basketball player made $90m in one year

Michael Jordan’s website describes him as the best basketball player of all time. Well, that may still be controversial to some. However, the undeniable fact is that he is by far the richest basketball player of all time.

His legendary deal with Nike 20 years ago earned him an incredible income. There is no doubt that Air Jordans are still one of the most popular trainers. Today, there are countless different models and collaborations of the same silhouette.

Career launch

Michael Jeffrey Jordan was born on February 17, 1963 in Brooklyn. His parents moved to Wilmington, North Carolina when he was a child. He is the fourth of five children. Michael went to Emsley A. Laney High School and played basketball, baseball and football.

The lad tried to make the school basketball team in 10th grade, but was told he was too short for it at 6ft 3in. To prove otherwise, he became a star on the school basketball team and played a few games with 40 points. The following summer he grew 10 centimetres and made the school team.

In his last year of high school, he was allowed to play in the 1981 McDonald’s All-American Game, where he scored 30 points. Michael received numerous college offers for basketball scholarships and chose the University of North Carolina.

Michael Jordan’s financial records

Jordan is the highest paid athlete in the history of the industry. Although he earned less than $100 million during his entire basketball career, his fortune is still estimated at around $1.9 billion. He is the third richest African-American after Robert F. Smith and Oprah Winfrey and the first billionaire in NBA history.

Though much of his wealth is often assumed to be due to his Nike deal, his basketball career has also contributed significantly to his prosperity. Jordan is known to have earned $90 million in the NBA, of which around $63 million was earned in the last two seasons.

Thanks to his deal with Nike, he gets 5% of the net wholesale price of every Jordan sold year after year. Figures for 2015 show that he could easily make $100 million a year on this deal alone. He has also been promoting Gatorade, Upper Deck and Hanes for almost 30 years. He also owns numerous restaurants, including a steakhouse.

Michael can name many other businesses as his own. But most of his fortune comes from another source related to basketball. In 2010, Michael Jordan bought the Charlotte Hornets for $175 million. The team is now worth more than $1 billion, and 90% of that amount comes from Jordan’s stock.

With all that money, the basketball legend has also made several acquisitions. He has his own private jet and golf course, as well as 2 villas. But apart from these many acquisitions, Jordan also donates a lot of money, especially to children in Chicago. He also likes to donate to other causes. His most recent donation is $2 million to the victims of Hurricane Florence.