Michael Jordan Net Worth 2022 (Forbes) – Is He a Billionaire?

Michael Jordan Net Worth 

Michael Jordan has an estimated net worth of $10 million. Michael Jordan is a former American basketball player who led the Chicago Bulls to six NBA championships and won the Most Valuable Player Award five times. He earns most of his income from his career as a basketball player, brand endorsements, and business ventures. 

Michael Jordan is a former professional basketball player, Olympic athlete, businessman, and actor from the United States. He was regarded as one of the greatest basketball players of all time, dominating the sport from the mid-1980s to the late 1990s.

Jordan led the Chicago Bulls to six NBA championships and was named the league’s Most Valuable Player five times. Jordan became the most decorated player in NBA history, with five regular-season MVPs and three All-Star MVPs.

To calculate the net worth of Michael Jordan, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.

Here’s the breakdown of his net worth:

Name: Michael Jordan
Net Worth: $2.2 Billion
Monthly Salary: $2 Million
Annual Income: $30 Million
Source of Wealth: Basketball player, Athlete, Spokesperson, Entrepreneur, Actor

Early Life

Michael Jeffrey Jordan was born in Brooklyn, New York on February 17, 1963. Jordan developed a competitive edge at a young age while growing up in Wilmington, North Carolina. He was determined to win every game.

Jordan grew up in a stable family environment. Delores, his mother, was a bank teller who later became a published author. His father, James, worked as a maintenance worker before becoming a manager at General Electric. Jordan had four brothers and sisters: Larry, Deloris, Roslyn, and James Jr.

Jordan was introduced to baseball by his father, James, who also built a basketball court in their backyard. James was murdered in the summer of 1993 while driving from Charlotte to Wilmington, North Carolina, by two teenagers in an apparent robbery. He was missing for 11 days before his body was discovered in a swamp near McColl, South Carolina. The teens were later tried and convicted of the crime, and they were sentenced to life in prison for first-degree murder.

College Career

Jordan enrolled at the University of North Carolina at Chapel Hill in 1981 and quickly rose to prominence on the basketball team. Jordan scored the game-winning basket in the NCAA Division I championship game against Georgetown University in 1982. He was also named NCAA College Player of the Year in 1983 and 1984.

In 1984, Jordan left college after his junior year to join the NBA. Jordan completed his bachelor’s degree in geography while continuing to play professional basketball in 1985.

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Professional Basketball Career

Chicago Bulls

Jordan’s professional basketball career began in 1984, when he was drafted by the Chicago Bulls. He was selected third overall, behind Hakeem Olajuwon, who was chosen first by the Houston Rockets, and Sam Bowie, who was chosen by the Portland Trail Blazers; the draft also included legendary players John Stockton and Charles Barkley.

Jordan quickly established himself on the court. He contributed to the team’s playoff run and averaged 28.2 points per game that season. Jordan was named NBA Rookie of the Year and was selected for the All-Star Game as a result of his efforts.

While his second season was marred by injury, he was making strides on the court in 1986-87. He became the first player to score more than 3,000 points in a single season since Wilt Chamberlain in 1961.

By the late 1980s, the Chicago Bulls were quickly becoming a force to be reckoned with, and Jordan played a key role in their success.

In 1990, the Bulls advanced to the Eastern Conference Finals and won their first NBA title the following year, defeating the Los Angeles Lakers. Jordan was already well-known for his superior athleticism on the court as well as his leadership abilities.

The Chicago Bulls won their second NBA championship in 1992, defeating the Portland Trail Blazers. The following year, the team won their third championship, dominating the basketball world.

Jordan returned to the basketball court for the Chicago Bulls in March 1995, after a brief stint in minor league baseball. He bounced back even stronger the next season, averaging 30.4 points per game as he led the Bulls to a then-record 72 regular-season wins before defeating the Seattle SuperSonics in the NBA finals.

Chicago nearly matched the previous year’s record with 69 wins in 1996-97, a season that culminated in an NBA Finals game-six victory over the Utah Jazz. In 1998, the two teams met again for the championship, with Jordan sinking the game-winning shot in Game 6 to win his sixth NBA title.

Washington Wizards

Jordan joined the Washington Wizards as a part owner and president of basketball operations in 2000, following his second retirement from basketball in 1999.

Jordan left these positions in the fall of 2001 to return to the court. He spent two seasons with the Wizards before retiring for good in 2003.

Olympics

Jordan made his Olympic debut as a member of the United States Olympic basketball team in the summer of 1984. The team won the gold medal at the Los Angeles Olympics that year.

Jordan later helped the United States win the gold medal at the 1992 Olympic Games in Barcelona, Spain.

Retirements from Basketball

Jordan retired from basketball three times in the 19 years since he began his professional career. He retired in 1993, then again in 1998, before hanging up his jersey for good in 2003.

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Baseball

Jordan announced his retirement from basketball to pursue baseball after the end of the 1992-93 basketball season, shocking many. Jordan was an outfielder for a minor league team, the Birmingham Barons, for one year in 1994.

Jordan made this decision shortly after the murder of his father, who had always wanted him to play baseball. He had last played baseball as a senior in high school in 1981.

“You tell me I can’t do something, and I’ll do it,” Jordan explained.

Jordan had a rather disappointing baseball career, which many fans saw as a whim.

Batting average of 202. However, many of his coworkers at the time described him as a dedicated player with great potential.

“He had everything. Capability, aptitude, and work ethic He was always considerate of his teammates and respectful of what we were doing. He had a lot to learn, to be sure “said Terry Francona, former manager of the Barons. “I believe he could have made it with another 1,000 at-bats. But there’s another aspect of that season that people miss. Baseball was not the only skill he acquired. I truly believe he rediscovers himself and his love of competition. We inspired him to pick up a basketball again.”

Jordan played for the Scottsdale Scorpions in the Arizona Fall League after finishing his season with the Barons. He returned to the NBA in March 1995 with a two-word press release: “I’m back,” after hitting.252 and naming himself the team’s “worst player.”

Businessman and Actor

Jordan has been involved in a number of profitable business and commercial ventures outside of his basketball career. Jordan’s net worth was estimated to be more than $1 billion in 2018 by Forbes, thanks to his lucrative Nike partnership and ownership of the Charlotte Hornets.

Jordan and Nike

Jordan signed his first contract with Nike in 1984, and he currently serves on the board of directors of Nike Inc.

Nike debuted the Air Jordan basketball sneakers in 1985.

Nike gave Jordan a generous 25% royalty cut in his initial contract.

The Air Jordan quickly became popular, and it is still a best-seller for the apparel company more than 30 years later. Nike and Jordan profit from the collaboration, with Nike reporting nearly $2.9 billion in revenue for the Air Jordan line in 2018.

Other Endorsement Deals

Jordan has also signed endorsement deals with Hanes, Upper Deck, Gatorade, Coca-Cola, McDonald’s, Chevrolet, and Wheaties over the years.

‘Space Jam’

Jordan made a big name for himself as the star of the 1996 film Space Jam. Jordan appeared in the film alongside cartoon legends Bugs Bunny and Daffy Duck in a mix of live action and animation.

Part Owner of the Charlotte Hornets

Jordan purchased a stake in the Charlotte Hornets (then known as the Bobcats) in 2006 and became the team’s managing member of basketball operations. He became the majority owner of the Charlotte Hornets in 2010 and currently serves as the team’s chairman.

Jordan’s priority seemed to be improving the team’s less-than-stellar record. In November 2012, he told ESPN that “I have no plans to leave this business. My competitive nature drives me to succeed. It’s been said that if I can’t think of a way to do something, I’ll invent one.” While the Hornets haven’t had a particularly successful season, the organization has grown from a $175 million valuation in 2006 to $1.05 billion in 2018.

Michael Jordan Steakhouse

Jordan began his restaurant career in 1998 as the owner of Michael Jordan’s The Steak House N.Y.C. This typical steakhouse seated 150 and 60 at the bar, occupying 7,000 square feet in Grand Central Terminal before closing in late 2018. It was designed to reflect Jordan’s tastes and style. Jordan also opened restaurants in Chicago, Connecticut, at the Mohegan Sun casino in Uncasville, and in Ridgefield, Washington, at the Ilani Casino Resort.

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Golf Charity

From 2001 to 2014, Jordan hosted the Michael Jordan Celebrity Invitational, an annual charity golf event with proceeds benefiting foundations such as Make-A-Wish, Cats Care, the James R. Jordan Foundation, Keep Memory Alive, and Opportunity Village.

Wayne Gretzky, Michael Phelps, Chevy Chase, Samuel L. Jackson, and Mark Wahlberg were among the celebrities who attended the four-day tournament and celebration.

Awards

Jordan won his first NBA Most Valuable Player Award in 1988, and he would go on to win it four more times, in 1991, 1992, 1996, and 1998.

Jordan was inducted into the Naismith Memorial Basketball Hall of Fame in April 2009, one of basketball’s highest honors. Jordan’s attendance at the induction ceremony was bittersweet because it meant “your basketball career is completely over,” he explained.

President Barack Obama awarded Jordan the Presidential Medal of Freedom in 2016.

Stats

Vertical Leap

48 inches

Per-Game Averages

  • MIN: 38.3
  • FG%: 0.497
  • 3P%: 0.327
  • FT%: 0.835
  • REB (OFF): 1.56
  • REB (DEF): 4.67
  • REB (TOT): 6.22
  • AST: 5.25
  • STL: 2.35
  • BLK: 0.83
  • TO: 2.73
  • PF: 2.60
  • PTS: 30.12

Career Totals

  • G: 1,072
  • GS: 1,039
  • MIN: 41,011
  • FGM-A: 12,192-24,537
  • 3PM-A: 581-1,778
  • FTM-A: 7,327-8,772
  • REB (OFF): 1,668
  • REB (DEF): 5,004
  • REB (TOT): 6,672
  • AST: 5,633
  • STL: 2,514
  • BLK: 893
  • TO: 2,924
  • PF: 2,783
  • PTS: 32,292

Wife and Kids

Jordan married Juanita Vanoy in 1989. Jeffrey, Marcus, and Jasmine were the couple’s three children. They divorced in December 2006, after 17 years of marriage.

Jordan married 35-year-old Cuban American model Yvette Prieto in Palm Beach, Florida on April 27, 2013. Tiger Woods, Spike Lee, and Patrick Ewing, among others, are said to have attended the wedding ceremony. Victoria and Ysabel, the couple’s twin daughters, were born in February 2014.

Jeffrey and Marcus Jordan, Jordan and Juanita’s two sons, both played basketball in college and aspired to play in the NBA.

In 2007, Jeffrey joined the University of Illinois basketball team. Jordan and his ex-wife Juanita both supported their son and tried to help him cope with the pressures of playing in the shadow of an NBA legend.

“We’ve tried to explain to Jeff that you set your own expectations. You will never be able to live up to someone else’s expectations of who you are in this world “Jordan stated during an appearance on Today.

Jeffrey spent three seasons at the University of Illinois, from 2007 to 2010. He then played one season for the University of South Florida from 2011 to 2012 before retiring from basketball. He later enrolled in Nike’s management training program.

Marcus Jordan, Jordan’s younger son, also played basketball for the UCF Knights from 2009 to 2012. He later opened a basketball shoe and apparel shop in Florida.

“They aspired to be like their father. What young man doesn’t? But they both came to the conclusion, ‘We’re not going to the NBA,’ “Juanita stated in 2013.

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Documentary: ‘The Last Dance’

Following the cancellation of the 2019-20 NBA season due to the coronavirus pandemic, ESPN’s spring 2020 airing of The Last Dance, a 10-part documentary about the Jordan-led 1997-98 Bulls, became required viewing for basketball fans. The Last Dance, which included archival footage of Jordan as well as interviews with teammates and opponents, explored the tension between the Bulls’ front office and their peerless superstar during his final triumphant year with the team.

Michael Jordan Quotes

I’ve missed more than 9000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.

Michael Jordan

 

I can accept failure, everyone fails at something. But I can’t accept not trying.

Michael Jordan

 

Some people want it to happen, some wish it would happen, others make it happen.

Michael Jordan

 

Talent wins games, but teamwork and intelligence wins championships.

Michael Jordan

 

There is no ‘i’ in team but there is in win.

Michael Jordan

 

Obstacles don’t have to stop you. If you run into a wall, don’t turn around and give up. Figure out how to climb it, go through it, or work around it.

Michael Jordan

 

I’ve failed over and over and over again in my life and that is why I succeed.

Michael Jordan

 

Always turn a negative situation into a positive situation.

Michael Jordan

 

My attitude is that if you push me towards something that you think is a weakness, then I will turn that perceived weakness into a strength.

Michael Jordan

 

Just play. Have fun. Enjoy the game.

Michael Jordan

 

Limits, like fear, is often an illusion.

Michael Jordan

 

If you accept the expectations of others, especially negative ones, then you never will change the outcome.

Michael Jordan

View our larger collection of the best Michael Jordan quotes.

Further Reading

Related Lists of Celebrities’ Net Worth

Or, browse all celebrities’ net worth.

How To Become Rich Like Michael Jordan?

Michael Jordan did not become rich by luck. To become as rich as Michael Jordan, you have to work smart.

Successful people become rich because they take advantage of the opportunities that come their way. They are in the right place at the right time and take the right action.

Thanks to the Internet, the world has changed massively in recent years. Nowadays it has become much easier to make money online.

Instead of looking for a 9-5 job and staying in your comfort zone, it’s better if you become your own boss as soon as possible.

You can learn how to build a digital asset that generates cash flow for you while you sleep to grow your wealth quickly.

If you seize this golden opportunity in time, you can become as successful as Michael Jordan one day.

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