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    Michael Jordan Is Now Worth $3 Billion, Joins The Forbes 400

    Written By

    Pete Michael

    Date

    2023.10.04

    Michael Jordan's legacy has expanded beyond the basketball court, cementing his status as a global business magnate. The basketball legend's recent milestone sees him joining the elite Forbes 400 list with a staggering net worth of $3 billion. This monumental achievement underscores his business acumen and marks the first time a professional athlete has graced this list of America's wealthiest.

    The ascension to this elite group follows the sale of the Charlotte Hornets in August, a team Jordan had been the majority owner of since 2010. His purchase of the franchise in 2010 for $275 million proved to be a strategic move, with its sale fetching a colossal $3 billion this year.

    While Jordan's prowess on the basketball court during his 15 NBA seasons is legendary, his financial empire largely stems from off-court ventures. Remarkably, he garnered $2.4 billion in pre-tax earnings from brand endorsements with powerhouses like McDonald's, Gatorade, and, notably, Nike. The latter has been a significant contributor to his wealth, with his most recent royalty check from the brand amounting to $260 million, as reported by Forbes. However, the Charlotte Hornets' investment is one of his most fruitful, yielding a 17-fold return since his initial acquisition.

    The exclusive Forbes 400 list, renowned for featuring America's financial elite, necessitated a minimum of $2.9 billion for inclusion this year. Jordan's $3 billion net worth places him at 379th, tying with notable figures such as Meg Whitman, former eBay CEO, and real estate titan Jerry Speyer.

    Jordan is among an elite trio of professional athletes who have amassed a net worth exceeding $1 billion. This illustrious group includes names like LeBron James and Tiger Woods, underlining the rarity and magnitude of this achievement.

    Cover Image: Getty
    Author:Pete MichaelDate:2023.10.04Tags:

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