October 3rd 2023.
Michael Jordan has been hailed by sports fans as the greatest basketball player ever. Now, he's achieved something even more remarkable: a place on the Forbes 400 list of America's wealthiest people, with a reported net worth of $3 billion.
The six-time NBA champion has made his fortune through a range of successful investments. His latest success is the billion-dollar sale of his majority stake in the Charlotte Hornets, and his untouchable Jordan Brand empire. Jordan is the first athlete to be named one of America's wealthiest, as reported by Forbes.
Ted Leonsis, the Washington Wizards owner, has praised Jordan for achieving the kind of success that most entrepreneurs only dream of. According to Leonsis, Jordan has had "three mega successes" — a rare accomplishment.
Jordan's first source of wealth was his NBA career. He was the highest-paid player in 1997 and 1998, earning $94 million across 15 seasons. But it was his relationship with Nike that truly put him on the map. Jordan reportedly earned $260 million in royalties from the athletic brand in 2019, and the Jordan Brand has now reached wholesale revenue of $6.6 billion annually.
Jordan's success has earned him a place among an elite group of billionaires, alongside LeBron James and Tiger Woods. However, Jordan is the only one to have reached the Forbes 400 list.
Though Jordan has stepped away from his majority ownership role with the Charlotte Hornets, he still holds a small stake in the team. He also cofounded NASCAR Cup Series team 23XI Racing in 2020. With his business acumen, there's no telling what other successes lie ahead for Michael Jordan.
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