Top 5 Ways Michael Jordan earns more today than when he played in the NBA.
HoopsVibe's Very Quick Call: With ballers going broke left, right, and center, MJ shows us all how branding is king for long term success.
Some ballers go broke soon after retirement, but Michael Jordan actually earns more today than while he was in the NBA. Jordan brought in an estimated $80 million last year and has a net worth close to $650 million. Some are already speculating that he could be the first former NBA player to become a billionare. Here's the breakdown of the Top 5 revenue channels for MJ.
1. The Jordan Brand. This is the golden egg. It is a division of Nike that remains hugely profitable and massively influential. In 1984 MJ originally signed a 5-year $500,000 contract with Nike, plus royalties. Last year this was worth an estimated $60 million. Yikes, that's some serious return. The Jordan brand deserves it though dominating 71 percent of the basketball shoe market in 2012.
2. Earnings from play for Bulls: This is a relatively small part of the MJ empire. If you total up all the money Jordan made for actually playing basketball it totals $93.7 million of his roughly $650 million in net worth.
3. Charlotte Bobcats: This investment has actually lost MJ money, but he double downed on it last year and upped his ownership to 80 percent of the Bobcats. Now that he is the majority owner, if MJ can turn this team around this could be a hugely profitable portion of his portfolio. It Charlotte do become a relatively successful team it would likely make Jordan a billionaire.
4. Hanes, Gatorade, Upper Deck Endorsements: These round up to just under $20 million. MJ remains the most identifiable athlete in the world and uses that status to his advantage as Mr. Endorsement. His long-standing relationships with these companies continue to garner top dollar in the market.
5. Restaurants: You're hardly a celebrity unless you own at least a couple restaurants. Michael Jordan Steakhouses are in New York, Connecticut, and Chicago. These are a relatively small drop in the MJ portfolio, but just go to show the diversification in the many channels of his income.