How Michael Jordan makes his money in 2020
ESPN'S 'The Last Dance' explored origins of Bulls legend's business success
Nearly two decades after his retirement from the NBA, Chicago Bulls legend Michael Jordan’s lucrative career shows no signs of slowing down.
Jordan’s rise to global superstardom was revisited in recent weeks in ESPN’s documentary series “The Last Dance.” The 10-part saga detailed several formative moments in Jordan’s development as a businessman, including the origins of his billion-dollar relationship with Nike.
WHAT IS NIKE'S JORDAN BRAND WORTH TO THE APPAREL GIANT?
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NKE | NIKE INC. | 77.39 | +2.29 | +3.06% |
| PEP | PEPSICO INC. | 162.00 | +1.66 | +1.04% |
| HBI | HANESBRANDS INC. | 8.54 | +0.35 | +4.34% |
Jordan earned an estimated $130 million from his Nike deal alone in 2019, according to Forbes. He earned an additional $15 million from his other off-court business interests, including ongoing endorsement deals with the likes of Gatorade and Hanes, restaurants and car dealerships.
MICHAEL JORDAN'S NET WORTH, EXAMINED
The NBA’s Charlotte Hornets are the centerpiece of Jordan’s portfolio. The 57-year-old originally purchased a majority stake in the franchise in 2010. As of this year, the Hornets are worth $1.5 billion.
Chicago Bulls basketball star Michael Jordan answers reporters' questions during a press conference Oct. 6, 1993, in Deerfield, Ill., as he announces his retirement from the game. (CHRIS WILKINS / AFP)
WHY DID MICHAEL JORDAN RETIRE IN 1993?
Jordan’s personal net worth is an estimated $2.1 billion. He is considered the richest athlete of all time.
SCOTTIE PIPPEN'S BULLS CONTRACT SCRUTINIZED IN 'THE LAST DANCE'
A six-time NBA champion, Jordan retired for the third and final time in 2003, giving way to a new generation of basketball stars that includes LeBron James and Stephen Curry. However, Nike’s Jordan Brand is still one of the most successful parts of its business.
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Jordan Brand generated $3.1 billion in sales during Nike’s 2019 fiscal year, or about 8 percent of the apparel giant’s overall revenue. The imprint also recorded its first $1 billion quarter last fiscal year.
Jordan has earned an estimated $1.3 billion through his Nike deal since he first signed with the brand in 1984.