London, Europe Brief News –Michael Jordan’s net worth is around $2.2 billion. Michael Jordan is a retired team owner, basketball player, entrepreneur, and product endorse from the United States. He was the first sportsman in history to be paid more than $30 million annually. After adjusting for inflation, he made $33.14 million the next season, equivalent to $53.4 million today.
Michael Jordan’s Net Worth
He won $93.7 million in compensation throughout his NBA career. Furthermore, he achieved this achievement throughout the 1996-1997 season, earning $30.14 million in base salary. Even though he has not practiced professional basketball in over 2 decades, Michael now makes $100 million annually from sponsorships as well as other business activities.
In one year, this is more money than he made in 16 NBA seasons. Nike/Jordan brand royalties net Michael a minimum of $60 million each year. Michael became a millionaire through his ownership of the Charlotte Hornets NBA franchise. This investment will be discussed in further depth later in this essay. Jordan drove the Chicago Bulls to the 6 NBA titles. He has won the league MVP award five times.
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On September 11th, 2009, he was elected to the Hall of Fame for having the best career scoring average.
Professional career in NBA
Michael played three seasons for the UNC Tar Heels, garnering several trophies and the Naismith and Wooden College Player of the Year in 1984. He left UNC a year prematurely to join the 1984 draught. Michael came back to UNC in 1986 to complete his degree, and he finished with a bachelor’s degree in geography.
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Surprisingly, he was not the first choice. After Sam Bowie (#2) and Hakeem Olajuwon, he was the 3rd choice. The Chicago Bulls designated Michael with the 3rd overall pick. On September 12, 1984, Michael accepted his rookie contract with the Bulls. The contract was a seven-year, $6 million pact with an annual salary of roughly $850,000.
Endorsements
Before Michael Jordan, James Worthy’s $150,000 yearly deal with New Balance was the world’s highest celebrity shoe endorsement contract. Jordan broke all sponsorship records in 1984 when Nike decided to pay him $500,000 each year for five years. Jordan also got Nike stock options, bringing his total pay to $7 million over five years.
Michael Jordan’s yearly Nike royalty payment ranges between $80 and $100 million. Nevertheless, his royalty check has reached $100 – $120 million over several years. This greatly affects Michael Jordan’s net worth.
