One of the most famous athletes in the world, Michael Jordan is also known as an entrepreneur, spokesperson, and actor (anyone else holding out for Space Jam 2: Looney Reloaded?), roles that have together helped him amass an incredible amount of wealth and net worth.
Even after his 1993 retirement from basketball, Jordan continues to rake in the dough from endorsements, largely thanks to his partnership with Nike. In fact, Forbes reported that Jordan made an estimated $90 million in 2013 – more than any other active or retired athlete, save for Floyd Mayweather.
So what is Michael Jordan Net Worth?
Michael Jordan Net Worth of $650 million makes us all want to be like Mike, the unstoppable five-time league MVP who holds the record for the highest career scoring average of all time.
Beyond his NBA salary, Jordan signed an endorsement deal with Nike in 1984 for an unheard-of $500,000 per year for five years, plus stock options. Jordan debuted Air Jordans on the court in 1985; the shoes violated league policy, so the NBA fined Jordan $5,000 each game he wore them. Nike paid all of the league’s fines while simultaneously hyping the shoes. Nike’s plan worked.
Within the first year, Air Jordans had produced $100 million in revenue and, together with other Jordan apparel, continues to bring in an estimated $2.5 billion per year for Nike, with Jordan still enjoying the benefits – he gets a cut of every Jordan Brand product sold.
The Jordan Brand continues to grow – one of every two basketball shoes sold in the U.S. in 2012 carried the Jordan brand – and Jordan even weighs in on shoe design and Nike’s Jordan endorsement recipients, which include such superstars as Carmelo Anthony and Chris Paul.
Aside from his whopping earnings from Nike, Jordan adds to his net worth with long-standing endorsement deal with Hanes, Gatorade, and Upper Deck; owns a number of restaurants and a car dealership, and has made recent deals with 2K Sports and Novant Health. Lest we forget, Jordan also owns 80% of the Charlotte Bobcats.
All together, Jordan’s on- and off-court earnings make him the highest paid retired athlete at the ripe young age of 51. Jordan and his net worth are in rare air.