Michael Jordan, the basketball icon renowned as the greatest NBA player of all time, has etched his name in the annals of the world’s billionaires, ascending to the sixth position on the list of the world’s wealthiest Black individuals.
According to Forbes, his net worth has surged by $1.3 billion since the start of the year, skyrocketing from $1.7 billion on Jan. 1 to a remarkable $3 billion at the time of drafting this report. Bloomberg, however, estimates his wealth even higher at $3.5 billion.
Jordan’s meteoric rise in wealth has thrust him into a coveted list that includes notable names such as Aliko Dangote, the world’s richest Black individual, and Robert F. Smith, America’s wealthiest Black billionaire.
This ascent underscores Jordan’s rapidly evolving business ventures and his exceptional business acumen, propelling him to prominence among the world’s billionaires.
Michael Jordan stands tall among other Black billionaires
According to data tracked by Billionaires.Africa, Jordan is now the sixth-richest Black individual in the world, surpassing notable figures like the world’s richest Black woman, Oprah Winfrey, whose wealth stands at $2.8 billion.
He also outpaces hip-hop’s first billionaire, Shawn “Jay-Z” Carter, with a fortune of $2.5 billion, and Africa’s first Black billionaire, Patrice Motsepe, worth $2.2 billion.
With a net worth of $3 billion, only five Black individuals globally surpass Michael Jordan’s financial standing. The exclusive group includes Africa’s richest man Aliko Dangote, boasting a fortune of $10.3 billion according to Forbes, African-American billionaires Robert F. Smith, and David Steward, as well as Nigerian billionaires Abdul Samad Rabiu and Mike Adenuga.
The remarkable surge in Michael Jordan’s net worth this year can be largely attributed to the sale of his controlling stake in the Charlotte Hornets, a professional basketball team.
The transaction, valued at $3 billion, signifies the end of Jordan’s decade-long tenure as the franchise’s principal decision-maker. Notably, the sale price represents nearly 17 times the franchise’s value when Jordan assumed majority ownership in 2010.
Lucrative deals have buoyed Michael Jordan’s off-court earnings
Jordan’s off-court earnings have been buoyed by lucrative partnerships with industry giants such as McDonald’s, Gatorade, Hanes, and most notably, Nike. His annual royalty income from Nike 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 perception of success in both sports and business.
Jordan’s incredible journey, from legendary basketball player to billionaire entrepreneur, continues to inspire and make headlines. His ascent to the sixth position among the world’s wealthiest Black individuals is a testament to his unparalleled achievements in sports and business.