7 companies owned by Michael Jordan
Michael Jordan, a basketball legend, savvy businessman, and deal maker, stands among the world’s most successful athletes and wealthiest Black billionaires.
His remarkable career on the basketball court and his business acumen have propelled him to a net worth of $3.5 billion, driven by the recent sale of a majority stake in the Charlotte Hornets in a deal valued at $3 billion.
This year alone, Jordan’s fortune has grown by a staggering $1.8 billion, solidifying his status as one of the world’s richest Black billionaires. He now surpasses entertainment icons like Jay-Z and Oprah Winfrey, with a net worth of $2.5 billion each.
Jordan’s business empire revolves around his ownership of the Charlotte Hornets and the iconic Jordan Brand, showcasing his strategic business sense.
While celebrated as the NBA’s greatest player ever, his earnings as a pro athlete totaled just $90 million. His partnership with Nike is the bedrock of his wealth, resulting in the legendary Air Jordan sneakers and the Jordan Brand, which have contributed $1.8 billion to his earnings.
He has wisely diversified his wealth across various sports-related investments.
Billionaires.Africa has identified seven companies owned or co-owned by the basketball legend:
Jordan’s involvement with the Charlotte Hornets stands as one of the most lucrative investments in NBA history. While he sold a majority stake in the franchise for a staggering $3 billion, Jordan retained a minority ownership, positioning himself to capitalize on future opportunities within the organization. The recent sale has seen him relinquish primary decision-making authority to U.S. businessmen Gabe Plotkin and Rick Schnall.
In motorsports, Jordan co-owns 23XI Racing, a prominent NASCAR team. Alongside partners Joe Gibbs and NASCAR driver Denny Hamlin, Jordan has built a team valued at $150 million. The team’s name, 23XI, symbolizes the fusion of Jordan’s iconic No. 23 from his NBA career and Denny Hamlin’s No. 11 in the NASCAR Cup Series.
Following his early strategic divestment in the Charlotte Hornets in 2019, Jordan acquired an equity stake in DraftKings, a U.S. daily fantasy sports contest and sports betting company. This investment earned him a position as a special advisor to DraftKings’ board of directors, underscoring his financial acumen in the ever-evolving sports and gaming industry.
Beyond sports, Jordan’s influence extends into the world of spirits, notably with Cincoro Tequila. Collaborating with fellow NBA owners Emilia Fazzalari, Wye Grousbeck of the Celtics, Wes Edens of the Bucks, and Jeanie Buss of the Lakers, Jordan has propelled this luxury tequila brand to national prominence. As of 2022, Cincoro Tequila boasts 1.5 million bottles sold nationwide and has earned an impressive 23 awards in various spirit competitions.
In March 2021, Jordan joined a consortium of investors that included luminaries such as Will Smith, Kevin Durant, and 2 Chainz in a $305-million investment in Dapper Labs. This blockchain-based company is renowned for its virtual trading card platform, NBA Top Shot. Although recent challenges in the crypto market have led to a workforce reduction, Jordan’s involvement underscores his commitment to emerging technologies and entertainment.
Jordan’s expansive investment portfolio includes Michael Jordan Nissan (Team 23), a car dealership in partnership with Nissan Motor Co. Ltd., a Japanese multinational automobile manufacturer. This dealership offers brand-new Nissan vehicles, as well as used cars from other brands. Its “FastBreak Store” feature allows customers to enjoy a fully online experience with transparent pricing and home delivery within a 100-mile radius of the dealership.
- Grove XXIII
Jordan is the majority owner of Grove XXIII, a prestigious golf course located in Hobe Sound, Florida. Opened in 2019, the club’s name is a nod to Jordan’s iconic jersey number and the former orange grove in Hobe Sound. Grove XXIII offers an 18-hole course, a grand clubhouse, a gatehouse, a state-of-the-art learning facility, and a practice range. The 15,000-square-foot clubhouse, designed by Nichols Architects and Dailey Janssen, elegantly mirrors the precision and fluidity of a golf swing