Michael Jordan net worth in 2024: how rich is the former basketball player?

By:

Prash Raval

Prash is a financial writer for Invezz covering FX, the stock market and investing. For over a decade he has traded spot FX full time while... read more.

Updated: Apr 11, 2024

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What is Michael Jordan’s net worth?

Currently, Michael Jordan’s net worth in 2024 is estimated at $3.2 billion. Here are some more personal stats about Michael Jordan.

Visit our archives to find more about the net worth of various celebrities and financial professionals.

Who is Michael Jordan?

Michael Jordan is a former professional basketball player widely regarded as one of the greatest athletes in the sport’s history. Born on February 17, 1963, in Brooklyn, New York, he is best known for his illustrious career with the Chicago Bulls in the National Basketball Association (NBA).

Throughout his career, Michael Jordan won six NBA championships with the Chicago Bulls and earned five regular-season MVP (Most Valuable Player) awards. He became known for his unparalleled scoring ability, dazzling moves, and clutch performances. Jordan’s competitiveness and will to win were legendary, earning him the nickname “Air Jordan.”

Michael Jordan is married to Yvette Prieto, a Cuban-American model. The couple tied the knot in 2013 and welcomed twin daughters, Victoria and Ysabel. Before his marriage to Yvette Prieto, Jordan was married to Juanita Vanoy, with whom he has three children: Jeffrey, Marcus, and Jasmine. 

Off the court, Michael Jordan is a successful businessman and owner of the Charlotte Hornets, an NBA franchise. He has also been involved in various endorsements and business ventures, including partnerships with brands such as Nike and Gatorade.

How did Michael Jordan become rich?

Michael Jordan’s immense wealth is primarily attributed to his successful basketball career, lucrative endorsement deals, and savvy business ventures. Here are some key factors that contributed to his financial success.

Basketball Career

As one of the greatest basketball players ever, Michael Jordan’s professional career in the NBA significantly boosted his wealth. Some notable financial achievements include:

• NBA Contracts: Throughout his career, Jordan signed several highly lucrative contracts. In the 1996-1997 season, he earned $30.1 million, making him the highest-paid player in the NBA at that time. His final two seasons with the Washington Wizards also garnered significant earnings.
• Endorsements and Sponsorships: Jordan’s exceptional on-court performances and iconic status attracted numerous endorsement deals. His partnership with Nike led to the creation of the immensely popular Air Jordan brand, which remains one of the most successful and iconic athletic shoe lines to date. Jordan’s endorsement deals with brands like Gatorade, Hanes, Coca-Cola, and McDonald’s have contributed significantly to his wealth.

Business Ventures

Michael Jordan’s entrepreneurial ventures have played a crucial role in expanding his financial portfolio. Notable business endeavours include:

• Ownership of the Charlotte Hornets: In 2010, Jordan purchased a majority stake in the Charlotte Hornets (formerly the Charlotte Bobcats). His ownership has increased his wealth and solidified his influence in the world of professional sports.
• Jordan Brand: As a subsidiary of Nike, the Jordan Brand generates substantial revenue by selling basketball shoes, apparel, and accessories. Michael Jordan’s involvement and brand equity have propelled its success, resulting in significant earnings.

Investments and Real Estate

Michael Jordan has also made wise investments and real estate acquisitions, adding to his wealth. Some notable ventures include

• Stake in the Miami Marlins: In 2010, Jordan acquired a minority ownership stake in the Miami Marlins, a Major League Baseball team.
• Real Estate: Jordan owns multiple luxurious properties, including a sprawling estate in Jupiter, Florida, and a custom-built mansion in Highland Park, Illinois.

What companies does Michael Jordan own?

Michael Jordan is primarily known as a legendary NBA player, but he has also built an extensive business portfolio outside of his basketball career. Most notably, Jordan owns a majority stake in the Charlotte Hornets NBA team, which he purchased in 2010. Additionally, Jordan has ownership interests in various other companies, including his iconic Nike-owned brand “Jordan,” which encompasses apparel, footwear, and other sports equipment. He also has investments in several technology startups and hospitality ventures, such as his chain of steakhouses called “Michael Jordan’s The Steak House.”

Michael Jordan net worth growth over the years 

Michael Jordan’s annual income and financial position have fluctuated over the years. Here’s a look at how much Michael Jordan has been worth over the last five years.

What is Michael Jordan’s salary in 2024?

As a retired professional basketball player, Michael Jordan no longer has a traditional annual salary. His primary source of income is derived from his various business ventures and investments. In 2024, it is estimated that Jordan’s annual income could range from $150 million to $200 million or more. This figure takes into account the continued success and growth of his Jordan Brand, his ownership stake in the Charlotte Hornets, and his other business interests and investments.

How much money does Michael Jordan earn per year?

Michael Jordan earns an estimated $90 million per year from various sources. He earns about $30 million from his salary as the owner of the Charlotte Hornets, and he earns another $60 million from endorsements and business deals.

How does Michael Jordan spend his money?

Michael Jordan spends his money on a variety of things, including real estate, cars, jewellery, and travel. He owns many properties around the world, including a mansion in Chicago, a condo in Miami, and a ranch in Montana. 

He also has a collection of luxury cars, including a Bugatti Veyron and a Ferrari Enzo. Jordan is also a big fan of jewellery and has a collection of watches, necklaces, and rings.

Real Estate

• His most famous property is his 23,000-square-foot mansion in Highland Park, Illinois. The mansion has nine bedrooms, 13 bathrooms, a bowling alley, a movie theatre, and a golf course. Jordan bought the mansion in 1991 for $2.8 million and has since added to it by purchasing several neighbouring properties. The mansion is now worth an estimated $100 million.
• Jordan also owns a 16,000-square-foot home in Jupiter, Florida. The home has six bedrooms, 13 bathrooms, a tennis court, and a basketball court. Jordan bought the home in 2000 for $4.8 million.
• In addition to his homes in Illinois and Florida, Jordan also owns a condo in Chicago, a ranch in Montana, and a vacation home in the Bahamas.

Fashion

• Jordan is a fashion icon who loves to spend money on clothes, shoes, and accessories. He has been known to wear custom-made suits by designers like Tom Ford and Ralph Lauren. He also has a large collection of sneakers, including rare Air Jordans.
• Jordan’s clothing line, Air Jordan, is one of the most successful in the world. The line generates billions of dollars in annual revenue.

Travel

• Jordan loves to travel and often goes on luxurious vacations. He has been known to vacation in places like the Maldives, the Seychelles, and the French Riviera. He also has a private jet that he uses to travel around the world.

Art

• Jordan is a big fan of art and has a large collection of paintings, sculptures, and other works of art. He has been known to purchase art by some of the world’s most famous artists, including Pablo Picasso and Andy Warhol.

Charity

• Jordan is a generous philanthropist who donates money to several charities. He has donated money to organisations that support education, children’s causes, and environmental causes. He has also founded his own foundation, the Michael Jordan Foundation, which supports education and entrepreneurship for young people.

Other

• In addition to the things listed above, Jordan also spends money on things like cars, security, and personal assistants. He is also a co-owner of the Charlotte Hornets NBA team, which is worth an estimated $1.5 billion.

Key takeaways about Michael Jordan, career highlights

Here are some of the highs and lows of Michael Jordan’s career so far.

• Widely regarded as one of the greatest basketball players of all time.
• Six-time NBA champion with the Chicago Bulls.
• Five-time NBA Most Valuable Player (MVP) award recipient.
• Known for his scoring ability, competitive drive, and clutch performances.
• Led the Chicago Bulls to two three-peats, winning championships in 1991-1993 and 1996-1998.
• Earned a spot on the NBA All-Star team 14 times.
• Named to the All-NBA First Team 10 times.
• Inducted into the Naismith Memorial Basketball Hall of Fame in 2009.
• Successful business ventures, including ownership of the Charlotte Hornets.
• Created the immensely popular Jordan Brand under Nike.
• Endorsements with major brands such as Nike, Gatorade, and Hanes.
• Philanthropic efforts through the Michael Jordan Foundation.
• Estimated net worth of $2.1 billion

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