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Michael Jordan is a former American basketball player, who is regarded as one of the greatest ever. He spent 15 long seasons in NBA playing for the Chicago Bulls and Washington Wizards. Jordan is now a businessman and owner of Charlotte Hornets. During his time in NBA, he was one of the most marketable athletes in the world. The six-time NBA champion and five-time MVP awards winner, Michael Jordan is literally a superstar in basketball. He has earned millions of dollars through his enormous endorsements and contracts. Still today, even after retiring from basketball, he is earning $80-100 million annually. Michael Jordan net worth in 2016 would be a hot topic to discuss on.
Michael Jordan Bio:
Full name: Michael Jeffrey Jordan
Date of Birth: February 17, 1963
Age: 52 years
Nationality: United States of America
Profession: Basketball player, Athlete, Entrepreneur, Spokesperson, Actor
Height: 6 ft 6 inch
Weight: 216 lbs (98 kg)
Ethnicity: African American
Nicknames: Air Jordan, MJ, His Royal Airness, Mike Jordan, His Airness
Jordan is still one of the highest paid athletes in the world more than a decade after playing his last game in NBA. Michael Jordan net worth in 2016 has become one of the hot topics among the basketball lovers. Let’s find out how much money Michael Jordan has got into his bank?
Michael Jordan net worth in 2016:
Michael Jordan net worth in 2016 is estimated around $1 billion. In 2015, Michael Jordan has become the first billionaire basketball player in the history of NBA. He is out of basketball court for over a decade. Still he earns approximately $80-100 million per year. His massive income sources are endorsements and various other business ventures.
Also read: Top 20 unknown facts about Michael Jordan
Michael Jordan net worth in 2016 from Air Jordan:
He earns over $60 million every year from Nike and Jordan brand royalties alone. Nike launched Jordan brand shoes, named Air Jordan in 1984. The following year the shoes was released for the public consumption.
Before Jordan, the largest celebrity shoe endorsement contract was James Worthy’s $150,000 per year with New Balance. But, Michael Jordan shattered all endorsement records when he signed Nike’s contract worth of $500,000 annually for five years. Jordan also earned a total compensation money of $7 million from Nike as stock options. It is surprising that, Michael Jordan had never worn a pair of Nike shoes in his life and he was about to sign with Adidas. Nike offered him huge amount of money so that he couldn’t ignore it.
Michael Jordan redefined Nike’s shoe industry and created an unprecedented amount of revenue. There is no one else in the world who has owned a shoe company. MJ helped Nike to be the most powerful athletic wear company in the world. When Jordan played wearing a pair of Nike Air Jordan, it was a clear violation of NBA’s uniformity regulations. However, Nike paid his all league fines and used the Michael Jordan controversy around the world as a business policy. The Nike Air Jordan shoe first appeared in the market in March 1985 and two months later their selling rate crossed millions. Within the first year of contract signing, Air Jordan generated $100 revenue for Nike. Today, 58% of all basketball shoe sales are Air Jordans and these are the best basketball shoes ever. Nike generates over $2.5 billion by selling Air Jordans annually.
Jordan redefined Nike’s shoe industry by creating an unprecedented amount of revenue. Jordan helped Nike to be the most powerful athletic wear company in the world.
Michael Jordan net worth in 2016 from salary:
Michael Jordan entered NBA in 1984. Initially, his salary was less than a million. He was the no. 2 pick in that year. It was none but Karl Anthony who made a record $5.7 million with the Minnesota Timberwolves. In 1984, NBA was just at the beginning of its largest profit expansion in the history. In 1994, Jordan’s salary reached $4 million, which would be over $6 million today. Jordan topped at the salary chart in 1997 with $33 million a year, but his first deal off his rookie contract started at $2 million. In today’s market, Jordan would be looking at between $15 and $20 million as a yearly income.
Michael Jordan also played for Jerry Reinsdorf as a part of negotiation between Jordan and Chicago Bulls owner. David Halberstam described about that agreement in detail in Playing For Keeps.
Jordan has more money than he made in salary as a NBA basketball player. The way Jordan changed the economics of NBA, is later followed by the other players. In fact, the hefty money the modern basketball stars make can be traced back to the value Jordan showed as a player. Michael Jordan still makes an unimaginable amount of money as a retired basketball player.
Also read: Top 10 information about Michael Jordan wife
Michael Jordan is a Billionaire:
In the context of discussing Michael Jordan net worth, it is a fact that he is the first to become a billionaire as an athlete. He increased the ownership stake of Bobcats from 80% to 89.5% by June, 2014. Jordan bought the original stake worth of $175 million from Robert Johnson, who is the founder of BET. It is based on a rough estimation that Bobcats are worth of $600 million with $135 million worth of debt. It means Jordan stake in the team is worth of $416 million. When the wealth is combined with additional $600 million, that makes Michael Jordan a billionaire. Michael Jordan net worth has been glorified by this billionaire status.
Michael Jordan salary history:
|1988-89||Chicago Bulls||$2 million|
|1989-90||Chicago Bulls||$2.25 million|
|1990-91||Chicago Bulls||$2.5 million|
|1991-92||Chicago Bulls||$3.25 million|
|1992-93||Chicago Bulls||$4 million|
|1993-94||Chicago Bulls||$4 million|
|1994-95||Chicago Bulls||$3.85 million|
|1995-96||Chicago Bulls||$3.85 million|
|1996-1997||Chicago Bulls||$30.14 million|
|1997-98||Chicago Bulls||$33.14 million|
|2001-02||Washington Wizards||$1 million|
|2002-2003||Washington Wizards||$1.03 million|
Michael Jordan private jet:
MJ also owns a $50 million customized Gulfstream IV private jet which is branded with a blue-and white Air Jordan logo on its tail. The color of the plane is similar to a past pair of Air Jordan shoes. The plane and the shoes thus have a close relationship in their design. Underneath of the plane, Jordan’s 23 club jersey and Olympic jersey number 9 were imprinted. The pilots of that jet also gifted Jordan a custom Gulfstream-engraved putter.
Also read: Kobe Bryant net worth in 2016
Michael Jordan house:
Michael Jordan spent over $12.8 million to build a dream house in Florida. It is a massive-mansion with a 56,000 square feet of living space. The house features 9 bedrooms, 17 bathrooms, 15 car heated garage, an outdoor tennis court, an indoor basketball court and many more. The entrance of the mansion is featured by a giant gate displaying No. 23, the number of Michael Jordan jersey. Recently, Jordan has dropped $2.8 million to buy a house near Charlotte, so that he can be around his team.
Michael Jordan is a legend in basketball. He has been earning money by the image and popularity he had created over the years. Michael Jordan net worth will have to be updated in the following years. He is now a major business-magnet rather than a basketball player. He is leading a life of a king in United States with his family. He has got one of the happiest families ever.