There are only a few people who have to achieve their destiny by struggling with financial issues while in childhood. Most actors, rappers, comedians, athletes and business people are successful after a considerable period of hard work. Michael Jordan is one NBA superstar and also a businessman who spent a major part of his life in hard work. As of Jan 2024, Michael Jordan net worth is $1.7 billion. Let’s discuss how Michael build his wealth and achieved the destiny of being a billionaire entrepreneur in a short time.
Michael Jeffrey Jordan was on February 17, 1963, in the Fort Green area of Brooklyn. He was also named MJ which is a short abbreviation of his name. His mother Deloris was a bank employee and his father James R. Jordan Sr was an American mechanic. Michael attended the school Emsley A. Laney High School in Wilmington after his family moved to North Carolina.
During school times, he watched schoolmates while playing basketball. So he started anticipation in different games including basketball and baseball. He wanted to join the varsity team but due to his low height, he was refused to join the team. So he decided to join the junior team and he performed excellent performance in his first match. The coaches have noted that he is making 25 points in every match.
He made 30 points in a special event while playing McDonald’s All-American Game in 1981. After his robust performance in gameplay, he was selected for the college basketball team from North Carolina. In 1983 and 1984, he was honored with joining the NCAA All-American First Team but after 1 year he left his team. After a while, he completed his graduation degree in geography.
His career was started by joining the NBA Draft in 1984 for the first time. He made 16 points in an NBA debut match that was played on October 26, 1984, at Chicago Stadium. Unfortunately, His foot was broken in the 1985-86 season and he missed almost 64 games due to this major injury. After a few months, he got recovered and started training again. He made 63 points in the next 2 matches and it was an un-broken record till now.
The 1986-87 season was the best for Jordan because he made 37 points per game and total of points above 3000. This season was played just after his foot injury and he made the best scores in NBA history. He was a favorite player in the Chicago Bulls because he made a tremendous record with 100 blocked shots and 200 steals in this season. In the next season 1987-88, he was selected for the NBA Defensive Player of the Year award.
In the 1990-91 season, Chicago Bulls was on the top by winning 61 matches in a season. It was a franchise record created for the first time in 16 years. Jordan won the MVP award for the second time this season. In the 1992-93 season, he was worried because he lost his consecutive MVP records. In 1993, he decided to leave the game and announced his retirement after a few months after his father’s murder.
Jordan was really upset due to his father’s murder because he was very close to his father when he was young. Before his first announcement of retirement, he was seen gambling during the NBA playoffs in 1993. In 195, Jordan returned to the game but the Bulls gave his shirt number to someone else. He took the Bulls to the court on this matter.
Jordan announced his 2nd retirement on January 13, 1999, but after a few months, he was back in the NBA as the president of the Washington Wizards team. He joined his team on September 25, 2001, but he performed well even though he had a serious injury. He was 40 years old in 2003 and he became the first 40-year-old player with 43 points in NBA history. His team wizards became the 2nd most watched team in the NBA season covering 20172 fans at home and 19311 on the road. Unfortunately, 2003 was the last year of Jordan in the game and he decided to final retirement.
He introduced Jordan’s brand rode motorcycles and clothing line. He also owned a professional motorcycle road racing team named Motorsports. He bought some shares and stakes in Hornets in 2006 and took full control over basketball operations. But in 2019, he was the chairman of the Hornets and he sold a few stakes of the team that has added a lot of wealth to Michael Jordan net worth. In August 2020, Jordan’s shoes were auctioned publicly and it was sold for $615,000.
Jordan has dozens of endorsements with multi-national companies including Gatorade, Chevrolet, Nike, Coca-Cola, MCI Corporations, Hanes Clothing, Rayovac Corporation, Ball Park Franks, McDonald’s and more. He appeared in dozens of television commercials advertising the brands and their products. They paid high revenue that has added millions to Micheal Jordan’s net worth.
Michael Jordan Net Worth 2024 and Source
Jordan made almost $40 million through these endorsements and TV advertisements since 2008. While in-game, after signing a contract, the Chicago Bulls paid him $30 million per season. According to Forbes, he just earned $55 million between 2009 and 2010. This was a great achievement and it crossed Michael Jordan net worth into billions.
After his commercial endorsement with Nike, their sales crossed $1 billion. In 2014, it was announced that Jordan was the first NBA player who was a billionaire. In 2021, Forbes announced Michael Jordan net worth is estimated at $1.6 billion. Now as to this article and the latest sources and As of Jan 2024, Michael Jordan net worth is estimated at 1.7 billion USD.
He was the most wealthy retired person and 5th richest African-American athlete behind Kanye West and 4 others. He appeared in the comedy film Space Jam which has generated a revenue of $1 billion through merchandise. This has generated more money into Michael Jordan net worth.
- More Endorsements: Jordan is one of the highest-paid celebrities who has more contracts with companies. He earned a lot of his net worth through these endorsements. So if you’ve more contracts as a celebrity, you will surely be an entrepreneur one day.
- I am back: It was a statement from Jordan after his retirement. His comeback made a positive role in his signed companies and only the sales of Nike crossed $1 billion. To the Jordan, if you feel fit then return to the business. This has a major impact on Michael Jordan net worth.
- Never Lose Hope: After the murder of his father, he decided to retire from the game. He loved his father too much so he left the game for a few months. But he has the motivation and he never loses hope so finally, he succeeded.