Michael Jordan Net Worth: Michael Jeffrey Jordan was born in Brooklyn, New York February 17, 1963.
His mother, Deloris, was a finance professional and his father, James R. Jordan Sr., was an equipment manager. Michael’s family moved to Wilmington, North Carolina when he was an infant.
Michael was there Emsley A Laney High School in Wilmington, where he played basketball, baseball, and soccer. He famously tried his hand at college basketball as a student, but was turned down because he was “only” 5ft 11in tall.
Furious at the rejection, MJ committed to succeeding on the junior varsity team. Between his sophomore and junior years, he gained four inches, which earned him a position on the varsity team.
Michael was a standout varsity player, scoring 25 points per game in his junior and senior seasons. As a senior, he was selected to play in the 1981 McDonald’s All-American Game, where he scored 30 points.
How did he start his career?
Michael, who had grown to 6ft 6in, received scholarship offers from Syracuse, UVA, Duke and the University of North Carolina, among others. He eventually settled on the University of North Carolina.
He led the UNC Tar Heels to the NCAA title in 1982, averaging 13.5 points per game, and was named ACC Freshman of the Year. With 15 seconds remaining, Michael scored the winning shot against Georgetown’s Patrick Ewing.
That would be the game-winning shot for the Wildcats on this particular night. When asked about that game in the future, Michael said it was a turning point in his own self-esteem and basketball career.
Naismith and Wooden College Player of the Year awards were among the many awards Michael received during his tenure as a tar heel at UNC, where he played for three seasons. He joined the 1984 draft a year early by leaving UNC.
Michael returned to the University of North Carolina at Chapel Hill in 1986 to earn his bachelor’s degree in geography.
Who is Michael Jordan’s wife?
A year after breaking up with Juanitamet Michael Jordan Yvette Prieto, an American model from Cuba, through mutual friends. Michael and Yvette got engaged a few years after moving in together in 2009.
Celebrities including Tiger Woods, Usher and Robin Thicke were among the guests at Yvette and Michael’s lavish Florida wedding in 2013.
Ysabel and Victoria were born a year later to Yvette and Michael. The couple is still together but they prefer to keep their relationship a secret.
What is Michael Jordan Net Worth?
Ex-basketball player and entrepreneur Michael Jordan is an American former basketball player. Jordan has an abundance of $2.2 billion as of 2022.
Michael earned a total of $93.7 million over the course of his NBA career. For the first time ever, a professional athlete has earned over $30 million in a single year.
He pulled off the feat while earning a base salary of $30.14 million in 1996-1997. Adjusted for inflation, he earned $33.14 million the following season, which is $53.4 million today.
Although he hasn’t played professional basketball in nearly two decades, Michael makes $100 million a year through advertising and other business endeavors.
Please consider that he has made more money in a single year than in 16 seasons in the NBA. Nike and Jordan’s trademark royalties bring in at least $60 million a year for Michael.
Michael became a multi-billionaire after acquiring a controlling stake in NBA team Charlotte Hornets. We’ll get into the details of this investment in a moment.
The Chicago Bulls won six NBA championships under Jordan’s leadership. He has been named the league’s most valuable player five times. On September 11, 2009, he was inducted into the Basketball Hall of Fame with the highest career scoring average of all time.
How did he become a billionaire?
Michael’s net worth as of 2006 was approximately $450 million after taxes, divorce settlements and other living expenses. That same year, he acquired a minority interest in NBA team Charlotte Bobcats.
BET co-founder Robert Johnson was the team’s single largest owner at the time. In 2010, Michael paid $175 million to buy out Robert’s stake in the team. Following this transaction, Michael now owns 80% of the team.
By June 2014, Michael had increased his stake from 80 percent to 89.5 percent. The newly renamed Hornets were then valued at $500 million and owed $135 million. Clippers, recently valued at $500 million, were selling for $2 billion around this time.
In this scenario, assuming the Hornets were worth $600 million at the time, Michael’s post-debt share was $416 million, which combined with his $600 million fortune, made Michael Jordan a first-time billionaire. For more information click here: A billionaire is Michael Jordan.
Hedge fund managers Gabe Plotkin and Daniel Sundheim bought a small portion of Michael’s stake for $1.5 billion in 2019.
How much wealth does he own?
Michael and his family currently reside in a lavish mansion in Jupiter, Florida. The 26,000 square foot, 11 bedroom home with a total area of 26,000 square feet is located on three acres in the ultra exclusive Bear’s Club enclave.
It cost him $7.6 million to build his dream home after buying it for $4.8 million in 2011. A $3 million lake house in Charlotte, NC, as well as a lavish luxury condo in town allows him to stay close to his Hornets teammates. He is reportedly a resident of Salt Lake City, Utah.
Michael and his family continue to reside in their large mansion in Highland Park, which they own. Michael bought a piece of land in Highland Park in 1991 and immediately began building his dream home. The end product was a 7-acre lot with a 32,683-square-foot main house.
Nine bedrooms and 15 bathrooms are included in the villa along with an NBA quality basketball court, 15 car garage, indoor pool pavilion and many other amenities. In 2013, Michael put the house up for sale for $29 million. In May 2015, the property’s price was reduced to $14.8 million.