Michael Jordan is one of the best basketball players of all time, and many times, he has proved that this greatness goes beyond the basketball court. He is an intelligent investor and businessman that has carefully built his empire into the giant it is today.
His Jordan brand partnership is front and center of his business empire, but apart from this, haven’t you ever wondered what other investments and businesses he has?
Michael Jordan owns or has stakes in several businesses and investments, including 23XI Racing, a minority stake in the Charlotte Hornets, Cincoro Tequila, restaurants, car dealerships, DraftKings, Sportradar, Dapper Labs, and real estate. He also has lucrative endorsement and royalty relationships with Nike’s Jordan Brand, Hanes, Gatorade, and other major brands.
Check out the article below, where we go in-depth into Michael Jordan’s investments, endorsements, net worth, and business dealings.
What Does Michael Jordan Own? All Businesses Owned By the NBA Legend
Check out some of the businesses MJ owns or has a stake in.
Charlotte Hornets Basketball Team
On June 15th, 2006, Michael Jordan bought minority shares of an NBA team Charlotte Bobcats, a team that currently goes by the name Hornets since 2014, and became the team’s second-largest shareholder. On February 17th, 2010, he and his group agreed to buy the team from the then-current owner, Robert L. Johnson, but waited for the NBA’s approval of the change in leadership.
The purchase of Bobcats was approved and announced by the NBA’s board on March 17th, and he became the first former NBA player in history to own a majority stake in an NBA franchise.
Initially known as Bobcats, Charlotte Hornets is a Professional American basketball team based in North Carolina. The founder George Shinn started the original Hornets club to integrate professional basketball into the culture of Charlotte, North Carolina.
Fourteen seasons after the club played under George Shinn; its operations got suspended in 2002. Robert L. Johnson acquired the expansion team after Shinn got a new franchise in New Orleans. After a couple of years, Johnson sold the team to Jordan. In 2023, Jordan sold his majority stake to a group led by Gabe Plotkin and Rick Schnall, but he retained a minority stake in the Hornets.
Jordan Brand
The Jordan Brand is owned by Nike, but Michael Jordan’s long-running endorsement and royalty deal with the company is one of the most valuable athlete-brand partnerships ever. In 1984, Nike signed Jordan to a deal that helped launch the Air Jordan line, and the Jordan Brand later became its own Nike business unit. MJ is the most famous person associated with the Jordan Brand and remains closely tied to its direction and legacy.
Nike still owns the Jordan Brand, while Michael Jordan earns royalties from Jordan Brand sales. He does not own Nike or the Jordan Brand outright, but the Nike partnership has been central to his wealth and business influence.
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DraftKings
Michael Jordan’s business acumen showed in 2020 when he took an equity stake in DraftKings in exchange for becoming a special adviser to the company. Since then, he has provided guidance and strategic advice to their board of directors and given insights.
He has input in product development, company strategy, marketing initiatives, equity and belonging, and other vital initiatives.
NASCAR team co-owner
Michael Jordan has stated that he loves the racing sport and decided to move into that field to improve NASCAR’s push for broader fan appeal and diversity.
Jordan and Denny Hamlin, a NASCAR driver, announced that they would be starting a NASCAR team in collaboration with Bubba Wallace driving, beginning from the competition for the 2021 season. The stakeholders agreed to name the race team 23XI Racing. 23XI Racing is a nod to Jordan’s No. 23 Jersey number during his time on the court.
Real Estate
Michael Jordan also has considerable investments in real estate. He has owned multimillion-dollar estates in different locations around the U.S. These estates are personalized according to his taste and design recommendations. He has been associated with homes in North Carolina, Florida, Utah, and Illinois.
His long-listed estate in Highland Park, Illinois had about 32,000 square feet and outdoor spaces with a court and pool, bringing the total property to 56,000 square feet. It was placed on the market in 2012 for about $29 million, with nine bedrooms and 19 bathrooms, and was sold in 2024 after years on the market.
Restaurants
Michael Jordan is the co-founder of a luxurious waterfront restaurant established in 2018 called 1000 North in Jupiter, South Florida. Due to being located at the Jupiter Harbor Marina, it is easily accessible by boats or land vehicles.
Apart from the waterfront restaurant, Michael Jordan-branded Steakhouses operate in Oak Brook, Illinois; at Mohegan Sun in Connecticut; and at ilani in Ridgefield, Washington, serving exquisite American cuisine. The restaurants’ day-to-day operations are handled by restaurant operators and hospitality partners.
Cincoro Tequila
Michael Jordan is also one of the co-founders of Cincoro Tequila. The tequila brand was created with other NBA owners, including Jeanie Buss, Wes Edens, Wyc Grousbeck, and Emilia Fazzalari. It is another example of Jordan’s business interests moving beyond basketball, apparel, and restaurants.
How Much Did Michael Jordan Make In His NBA Career
Michael Jordan was instrumental in pushing the NBA to new heights. MJ earned about $94 million in total through his 15 years as an NBA player. While MJ was in the Bulls NBA team early in his career in 1984, he made about $550k. His annual salary wasn’t up to seven digits until 1988-1989 when he signed a $25.7 million eight-year contract with the club, which rounded up to him making a little more than $3 million per season on average.
From 1996 to 1997, MJ was the highest-paid NBA player. He signed a one-year contract with Chicago for $30.1 million, which was the highest signed contract in NBA at the time. After setting such a record, he decided to follow it up and increase in the next year, signing a $33.1 million contract with the Chicago Bulls, about 68% of his total earnings throughout his NBA career.
MJ was paid a million each for the two seasons spent in the Washington Wizards but donated all his salary from his first season in D.C. In 1984 when he joined the NBA league, it wasn’t as prosperous as it later became. MJ has had a significant impact on the NBA, especially player endorsement, contributing to his vast wealth.
Also Read: What Positions Did Michael Jordan Play During His Career?
Michael Jordan’s Net Worth
While MJ has earned $94 million from his NBA career, due to his hard work, he has gotten a total of billions of dollars from corporate partners and sponsors, including Nike, Coca-Cola, McDonald’s, Wheaties, and Chevrolet according to Forbes. These significant investments put Michael Jordan’s current net worth at about $3.5 billion.
Nike has been his most prominent sponsor and business partner since the making and introduction of the Jordan Brand. The Jordan Brand remains a major source of income for him through royalties.
His former majority ownership of the Charlotte Hornets also increased his net worth. The deal made to get majority shares was valued at about $175 million when MJ and his team made it, and he later sold the majority stake in 2023 in a deal that valued the franchise at roughly $3 billion.
Related Read: What Does Shaq Own: The Businesses Shaq Owns
Is Michael Jordan the Richest NBA player of all time?
Michael Jordan has a net worth of about $3.5 billion, making him the richest NBA player ever. He was critical in making the NBA a worldwide entertainment spot and a cultural symbol. MJ was the first NBA player to make over $30 million per year in salary.
He won The MVP for NBA finals six times, three All-Star Game MVP Awards, the 1988 NBA Defensive player of the year award, and many more. He has had a fulfilling NBA career during his 15 years of playing.
MJ has had a very lucrative business career aside from his NBA career, ranging from his partnership with Nike to owning a NASCAR team, restaurants, estates, getting involved with sports data, sponsorship, Jordan brand royalties, etc. MJ has earned far more from his Nike partnership than he made from NBA salaries alone.
Who Comes Close?
Magic Johnson, Junior Bridgeman, and LeBron James are among the players who come closest to Jordan’s wealth among people who have played in the NBA.
Magic Johnson is also a former Professional basketball player, public speaker, entrepreneur, and HIV activist. He was the Los Angeles Lakers of the National Basketball Association, former president of basketball operations. After his NBA career at the lakers, where he got $40 million net worth in the latter part of his career, he invested his money into different subsidiaries. Some are a film studio, shopping malls, etc.
To maximize his fortune, which was all under Magic Johnson Enterprises, worth over $1 billion. Junior Bridgeman had 12 fruitful years in the NBA, and then when he retired, he invested his money into different businesses like Wendy’s food chains, Coca-Cola bottling, and restaurant operations. He became one of the wealthiest former NBA players through his business career.
LeBron James is also one of the richest NBA players ever, with wealth built through NBA contracts, endorsements, media investments, and other business ventures.
Michael Jordan’s Top Charity Work and Donations
- Donated $2 million for Hurricane Florence relief in Wilmington and other affected areas
- Donated $7 million to fund two Novant Health Michael Jordan Family Clinics in Charlotte, 2017
- Donated $10 million to Novant Health in 2021 to help open two additional Michael Jordan Family Medical Clinics in New Hanover County
- $7 million was given out to different charity organizations such as the American Red Cross International Response Fund, Opportunity Village, etc. 2001-2014 gotten from an International Celebrity golf competition MJ was the host of.
- Donated $10 million to Make-A-Wish in 2023 and is still connected with the organization
- Donated his salary for the 2001-2002 NBA season to charities organized for the 9/11 incident
Michael Jordan’s Current and Recent Projects
1. Charity
Michael Jordan, through his company, is doubling down on charity by starting a grant program for the community to organizations that help the Black community. This is part of the $100 million commitment he made to the community.
2. Heir Inc
Michael Jordan and his son Jeffrey Jordan launched Heir Inc. Heir Inc, an entertainment and tech company that revolves around athletes. The company was built around a consumer community system for athletes to connect with their fans.
3. Sportradar
According to Reuters, Michael Jordan became an investor and special adviser to the company board of Sportradar Group AG, the sports gambling data company.
Conclusion
As you can see above, Michael Jordan is a very prominent and successful entrepreneur with investments spanning various industries. One thing is sure, Michael Jordan is not done with his business ventures and making investments. Who knows what his next business venture will be?