in , ,

Here’s How NBA Legend Michael Jordan Became A Billionaire

NBA legend Michael Jordan is not only considered the GOAT by many sports fans, he’s also one of the richest and greatest sportsmen of all-time.

In honor of Jordan’s 56th birthday on Sunday (Feb. 17), News Corp Australia examined his business empire, worth $2.4 billion, according to Forbes.

Forbes writes:

“Michael Jordan (No. 4; $1.7 billion) climbs up the ranking with a $400 million net worth increase derived from his sneaker fortune and a 90% stake in the increasingly valuable Charlotte Hornets. His stake in the basketball team is valued at an estimated $800 million.”

Michael Jordan | How Africa News

News Corp Australia contributor Dave Fraser writes:

“Ever since entering the NBA and signing a massive deal with Nike, the Air Jordans have been the most sought-after kicks.”

“Between them, Nike and Jordan command 90 per cent of the total shoe market in the USA.”

“Despite the majority of his wealth coming from his merchandise empire, Jordan has also been making a killing with his majority ownership stake in NBA team the Charlotte Hornets.”

“MJ has had a 90 per cent stake in the team formerly called the Charlotte Bobcats.”

“In the past 12 months his personal fortune has increased a further $420 million — mostly on the back of dramatic rises in the value of NBA franchises.”

“His stake in the Hornets alone is now valued at more than $1.1 billion.”

“Jordan also owns seven restaurants, including a steakhouse in New York, as well as a car dealership in his former home state of North Carolina.”

“MJ also has endorsement deals with Gatorade, gaming company 2K Sports, McDonalds, Chevrolet and Coca-Cola.”

“In 2018, the Nike Jordan brand brought in more than $US2.25 billion.”

Fraser ends with: “With Nike’s bottom line also dramatically improving on the back of the recent Colin Kaepernick “Just Do It” campaign — there is no reason to suggest the good times won’t just keep rolling for the 56-year-old.”

Written by How Africa

Leave a Reply

Your email address will not be published. Required fields are marked *

4 × 4 =

| How Africa News

Surviving the 1994 Rwandan Genocide; Meet Mukamusoni Sarafin, the Only Survivor in a Family of Six

| How Africa News

Disgraced School Principal Resigns After Saying ‘Karma’ Caused Kobe Bryant’s Death