Michael Jordan’s current net worth in 2021 as of June is approximately $1.6 billion and he is currently ranked the 1997th richest billionaire on Forbes list.
Michael Jordan is almost universally considered to be the best professional basketball player of all time. He played in 15 National Basketball Association seasons. Over that time he won 6 NBA championships, 5 MVP awards, ten scoring titles, the 1988 NBA Defensive Player of the Year Award, along with two gold medals in the Olympics (1984 in L.A. and 1992 in Barcelona). These are just a few accomplishments in his long basketball career.
During his NBA career, Michael Jordan earned $93.7 million in salary for playing over the years. He earned an additional $1.7 billion from endorsements through his corporate partners. Michael Jordan still earns $100 million an average each year from paid endorsements. His businesses partners still include Nike, Hanes, Gatorade, and Upper Deck. He also became the first billionaire athlete in history in 2014, per Business Insider.
Michael Jordan is currently the principal owner of the NBA Charlotte Hornets. He acquired a majority stake in the Charlotte Hornets in 2010 for $175 million. He sold a minority stake in the team in September 2019 setting the new team valuation at $1.5 billion. He became a billionaire through his ownership stake in this National Basketball Association team.
He first topped $2 billion for the first time in 2020, before seeing his net worth decline through the pandemic.
Michael Jordan is a great example of the importance of leveraging your earned income with investments to grow your wealth. Michael Jordan became a multi-millionaire through playing basketball, he earned over a billion through endorsements, but finally became a billionaire through owning equity in a basketball team. Even for Michael Jordan the fastest path to sustained wealth was through equity ownership in a business more than his earned income. Something for everyone to think about.
