Apparently, basketball is not the only thing Michael Jordon does well. For the second year in a row, he has been named to Forbes' "World Billionaires" list. With an estimated net wealth of $1.14 billion, Jordon jumped 200 spots from 2015 to be listed as the 1,577th richest man in the word.
While many would want to attribute his wealth to his ownership of the NBA's Charlotte Hornets, the reality is that only $500 millions is derived from his 90% stake in the team. That leaves over a billion dollars of wealth he has created through a series of shrewd investments and ownership of one of the most recognizable marketing names in all of the world. Given that sports franchises have been increasing in value at such an accelerated over the past few …show more content…
Over the years, none of that has ever changed, Today, Nike has thirty sneakers in the Air Jordon series out on the market place. As a result of retro promotions a new shoe sales, Nike estimates it brings in more than $3.0 billion a year in Air Jordon sales worldwide.
With all of the above information taken into consideration, it's estimated that Jordon brings in about $40 million a year in endorsements while salary and partnership distributions from the Hornets remain an unknown. Along with any NBA finals predictions someone might might want to make, it's a safe bet that Jordon's wealth will continue to grow due in large part to his shrewdness as a business man. Even through years of excessive gambling and marital problems, his brand never took a hit.
As a point of reference, reports circulate time and again about athletes who find themselves in financial trouble even after years of making ten figure salaries with endorsements. One has to wonder what makes MJ different. Aside from being one of the greatest athletes in history, it has been his ability to endure controversy and keep on smiling that has captured the world's
While many would want to attribute his wealth to his ownership of the NBA's Charlotte Hornets, the reality is that only $500 millions is derived from his 90% stake in the team. That leaves over a billion dollars of wealth he has created through a series of shrewd investments and ownership of one of the most recognizable marketing names in all of the world. Given that sports franchises have been increasing in value at such an accelerated over the past few …show more content…
Over the years, none of that has ever changed, Today, Nike has thirty sneakers in the Air Jordon series out on the market place. As a result of retro promotions a new shoe sales, Nike estimates it brings in more than $3.0 billion a year in Air Jordon sales worldwide.
With all of the above information taken into consideration, it's estimated that Jordon brings in about $40 million a year in endorsements while salary and partnership distributions from the Hornets remain an unknown. Along with any NBA finals predictions someone might might want to make, it's a safe bet that Jordon's wealth will continue to grow due in large part to his shrewdness as a business man. Even through years of excessive gambling and marital problems, his brand never took a hit.
As a point of reference, reports circulate time and again about athletes who find themselves in financial trouble even after years of making ten figure salaries with endorsements. One has to wonder what makes MJ different. Aside from being one of the greatest athletes in history, it has been his ability to endure controversy and keep on smiling that has captured the world's