Michael Jeffrey Jordan, also known by his initials, MJ, is an American former professional basketball player, entrepreneur, and majority owner and chairman of the Charlotte Bobcats.
Michael Jordan Net Worth Total Income/Salary
Born: February 17, 1963 (age 50), Brooklyn, New York, United States
Michael Jordan Net Worth Total Income/Salary Monthly Yearly & Earning Per Day Week:
Michael Jordan is a former American basketball player and one of the most famous people on the planet who has a net worth of $650 million. Even though Michael has not played professionally in over a decade, he still earns an estimated $80 million a year from endorsements. He earns $60 million every year from Nike-Jordan brand royalties alone. During his playing days, Jordan set sport records by being the first athlete to earn over $30 million per year in salary alone which happened from 1996 – 1998 while playing for the Chicago Bulls.
Before Michael Jordan, the largest celebrity shoe endorsement contract in the world was James Worthy’s $150,000 annual deal with New Balance. In 1984, Jordan shattered all endorsement records when Nike agreed to pay him $500,000 per year for five years. Jordan also received Nike stock options which brought his total compensation to $7 million over five years. Prior to signing the deal, Michael had never won a pair of Nike shoes in his life and had been hoping to sign with Adidas, but Nike’s offer was too rich to match. When he debuted the shoes, they violated the NBA’s uniformity restrictions. Nike paid all the league’s fines and used them to build excitement around the brand. The Air Jordan shoe first appeared in stores in March 1985 and two months later had sold over a million pairs. Within the first year Air Jordan produced $100 million in revenues. Today, 58% of all basketball shoe sales are Air Jordans and the brand produces over $2.5 billion in annual sales for Nike
When Michael divorced his wife of 13 years Juanita Jordan in 2002, he was forced to pay her a whopping $168 million divorce settlement. It was one of the most expensive divorces in history and included the couple’s $29 million, seven acre suburban Chicago mansion.