Michael Jordan jumps his way to new heights as his fortune spills over
Michael Jordan has just made history with his recent business decision as he becomes one of the US’ wealthiest people in 2023 thanks to his skyrocketing net worth.
Not only is Michael Jordan a household name in the NBA, he is one of the most celebrated figures of all time in the sports industry. And now he’s achieved a new career high at 60 years old: one of the nation’s wealthiest people.
After hanging up his number 23 jersey for the final time in 2003, his signature shoe line with Nike, Air Jordan, continued as a staple for sneakerheads worldwide. His empire has since expanded into automotive, the food industry, and several other major investments.
Michael Jordan becomes first athlete to join elite Forbes list
Jordan was the NBA’s highest-paid player in 1997 and 1998 and earned about $94 million across his 15 seasons. It’s an eye-watering figure but it trails behind what the athlete went on to earn years off the court.
Working with brands such as Gatorade, McDonald’s, and Nike the six-time NBA champion raked in an estimated $2.4 billion before tax, with about $260 million stemming from the latter.
No wonder he became the first to attain billionaire status back in 2014, followed by Tiger Wood and LeBron James. He’s now launched his wealth to new heights after selling his majority take in the Charlotte Hornets in August for a staggering $3 billion to a group led by Gabe Plotkin and Rick Schnall.
As of October 6, Jordan is ranked 379 on the Forbes 400 list and his net worth stands at $3 billion. No other athlete is currently on the prestigious lineup.
The sale marked the end of his 13-year run as majority owner after initially purchasing a minority stake in June 2006. Four years later, he splashed $275 million for the team, previously named the Charlotte Bobcats.
Jordan’s divorce with first wife was the most expensive
Before his second marriage to wife Yvette Prieto in 2013, Jordan was married to Juanita Vanoy for 17 years. The pair met in 1985 at a Bennigans restaurant in Chicago after a Bulls game and they tied the knot in November 1989 at the Little White Chapel in Las Vegas.
Their children – Jeffrey, Marcus, and Jasmine – were born in 1988, 1990, and 1992, respectively, but the Jordans eventually filed for divorce in 2002 citing irreconcilable differences. They reunited shortly after but separated once again in 2006.
Vanoy received $168 million in the settlement, making it the largest celebrity divorce at the time. In 2023, it is about $255.8 million, which is overshadowed by Melinda Gates’ alleged $76 billion from Bill Gates.
For his second marriage, Prieto signed a prenuptial agreement which reportedly agreed that she would receive $1 million for every year that they were married, should the couple ever decide to call it quits. If the marriage lasts for 10 years, Yvette will receive $5 million for every year they are married.
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