*By Bloomberg News reporters Amanda Albright and Devon Pendleton. If you have questions about story, please ask them here, and we’ll do out best to find an answer.*
The NBA legend’s sale of his stake in the Charlotte Hornets this month cemented his net worth at an estimated $3.5 billion, according to the Bloomberg Billionaires Index, which is calculating his fortune for the first time.
Jordan, who led the Chicago Bulls to six NBA titles and won five MVP awards, is a cultural icon whose likeness, from his silhouette on shoes to his smiling face on $100 collectible Wheaties boxes, is ubiquitous. The hall-of-fame player became the league’s second Black majority owner in 2010 when he bought a controlling stake in the Hornets, then called the Bobcats. But it was a licensing agreement with Nike Inc. in the 1980s, when Jordan was still relatively unknown, that formed the foundation of his trailblazing fortune.
The sale of Jordan’s Hornets stake follows a standout 2022 for sports team transactions and affirms the NBA’s status among the world’s most profitable leagues. Its franchises have soared in value in recent years as billionaires have used their vast wealth to become owners. Mat Ishbia, who founded wholesale mortgage lender UWM Holdings, agreed last year to buy more than 50% of the Phoenix Suns in a record deal that valued the club at $4 billion.
CalmResearch3132
The man made NIKE and modern NBA
Inevitable_Big_1966
And he did it with a gambling addiction according to twitter
PM_ME_NBA_HIGHLIGHTS
LePoverty could never
Inverse_wsb22
Today I was surprised ,seems like a he purchased a country and named Jordan, his ego getting bigger and bigger.
Should be more if the contract was better tbh. Jordan has made Nike so much money.
ImActuallyNotATroll
Also the richest baseball player ever.
junkit33
Crazy thing is this won’t be topped any time soon.
Teams are now way too expensive for ex-players to just outright purchase a majority in like Jordan did at the time.
And all the side businesses and stuff that players get into are not realistically going to make anyone billions.
More-Bodybuilder-880
I think Mat Ishbia has him beat still.
Background_Action_92
My mom’s cousin works with a company that installs floors on yachts and he said that he was working on one and the owner was a pretty Cuban woman and that she was super nice and friendly and then her American husband came and started talking in spanish and was pretty cool too. We found out later that it was Yvette’s yacht and the American guy was Michael jordan and that he spoke pretty good spanish
chicadancing
The GOAT being the richest.. fits
Ghosts_of_the_maze
Damn. I would have guessed Mat Ishbia
NbaKOLeWorld
Ishbia
santodomingus
Is he the richest athlete? I wouldn’t be surprised.
zetcetera
I should get into gambling
phickss
That’s it? Guy makes half a billion a year just off Jordan brand
welshfarmer
Richest geography major too
penguin_torpedo
Richest athlete too?? Who surpasses him?
CauliflowerAlarmed62
Not after he closes that short position.
arob770
I think they forgot to factor me into this statistic but i’ll let it slide. I know poor Mike can’t handle being number 2.
CallmeKap
Bron coming for that title as well
Frickincarl
Was he not before? I assumed he’s always been.
IMovedYourCheese
Richest athlete, period.
Paused_Toast
LeBron is gonna pass him up. Dude is active in the league, young, and is going to do major moves when he retires.
bagfka
I thought this sub would’ve had a harder time with this considering according to Reddit all billionaires are awful people
Abeifer
Give it a few years, his net worth will be a players’ max contract.
28 Comments
[deleted]
*By Bloomberg News reporters Amanda Albright and Devon Pendleton. If you have questions about story, please ask them here, and we’ll do out best to find an answer.*
The NBA legend’s sale of his stake in the Charlotte Hornets this month cemented his net worth at an estimated $3.5 billion, according to the Bloomberg Billionaires Index, which is calculating his fortune for the first time.
Jordan, who led the Chicago Bulls to six NBA titles and won five MVP awards, is a cultural icon whose likeness, from his silhouette on shoes to his smiling face on $100 collectible Wheaties boxes, is ubiquitous. The hall-of-fame player became the league’s second Black majority owner in 2010 when he bought a controlling stake in the Hornets, then called the Bobcats. But it was a licensing agreement with Nike Inc. in the 1980s, when Jordan was still relatively unknown, that formed the foundation of his trailblazing fortune.
The sale of Jordan’s Hornets stake follows a standout 2022 for sports team transactions and affirms the NBA’s status among the world’s most profitable leagues. Its franchises have soared in value in recent years as billionaires have used their vast wealth to become owners. Mat Ishbia, who founded wholesale mortgage lender UWM Holdings, agreed last year to buy more than 50% of the Phoenix Suns in a record deal that valued the club at $4 billion.
The man made NIKE and modern NBA
And he did it with a gambling addiction according to twitter
LePoverty could never
Today I was surprised ,seems like a he purchased a country and named Jordan, his ego getting bigger and bigger.
Proof
https://en.m.wikipedia.org/wiki/Jordan
More comments from 3 days ago, here:
https://www.reddit.com/r/nba/comments/1607k9s/bloomberg_michael_jordan_is_the_richest/
Should be more if the contract was better tbh. Jordan has made Nike so much money.
Also the richest baseball player ever.
Crazy thing is this won’t be topped any time soon.
Teams are now way too expensive for ex-players to just outright purchase a majority in like Jordan did at the time.
And all the side businesses and stuff that players get into are not realistically going to make anyone billions.
I think Mat Ishbia has him beat still.
My mom’s cousin works with a company that installs floors on yachts and he said that he was working on one and the owner was a pretty Cuban woman and that she was super nice and friendly and then her American husband came and started talking in spanish and was pretty cool too. We found out later that it was Yvette’s yacht and the American guy was Michael jordan and that he spoke pretty good spanish
The GOAT being the richest.. fits
Damn. I would have guessed Mat Ishbia
Ishbia
Is he the richest athlete? I wouldn’t be surprised.
I should get into gambling
That’s it? Guy makes half a billion a year just off Jordan brand
Richest geography major too
Richest athlete too?? Who surpasses him?
Not after he closes that short position.
I think they forgot to factor me into this statistic but i’ll let it slide. I know poor Mike can’t handle being number 2.
Bron coming for that title as well
Was he not before? I assumed he’s always been.
Richest athlete, period.
LeBron is gonna pass him up. Dude is active in the league, young, and is going to do major moves when he retires.
I thought this sub would’ve had a harder time with this considering according to Reddit all billionaires are awful people
Give it a few years, his net worth will be a players’ max contract.