Home » Michael Jordan joins the world’s 1,000 richest individuals

Michael Jordan joins the world’s 1,000 richest individuals

by Omokolade Ajayi
Michael Jordan

In a financial feat that outpaces even some of America’s richest individuals, including Oprah Winfrey and Shawn “Jay-Z” Carter, Michael Jordan has secured his position among the world’s 1,000 richest individuals, according to Forbes.

This development comes after his recent inclusion in “The Forbes 400,” a list of America’s 400 wealthiest individuals, making history as the first professional athlete to enter the ranks of the nation’s elite billionaires.

According to the latest report from Forbes, the leading U.S. business magazine, Jordan, who revolutionized the financial landscape by becoming the first athlete to amass a billion-dollar fortune in June 2014, now stands as the 982nd wealthiest person in the world

This remarkable feat is credited to a recent surge in his net worth, which has now surpassed the impressive $3 billion milestone. The bulk of Jordan’s billion-dollar empire is attributed not to his earnings on the basketball court during his illustrious 16-year NBA career, which totaled $94 million, but rather to a series of astute endorsements and business ventures

Jordan‘s off-court financial prowess has been buoyed by lucrative partnerships with industry giants such as McDonald’s, Gatorade, Hanes, and most notably, Nike, where his annual royalty income recently eclipsed an astonishing $260 million.

Jordan’s venture into NBA ownership began in 2010 when he acquired a majority stake in the Charlotte Hornets for a modest $275 million. His impact, however, transcended the confines of the basketball court, reshaping the very perception of success in both the realms of sports and business.

The latest surge in Jordan’s net worth can be linked to the sale of his controlling interest in the Charlotte Hornets, a professional basketball team. This historic transaction, valued at an astounding $3 billion, marked the culmination of Jordan’s decade-long tenure as the primary decision-maker for the franchise.

Notably, the sale price represented nearly 17 times the value of the franchise when Jordan assumed majority ownership in 2010.

In an era where athletes are not just sports stars but also business magnates, Jordan’s enduring legacy as a sports icon and astute businessman continues to shine brighter than ever as he claims his place among the world’s wealthiest individuals.

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