Michael Jordan Is Selling His Majority Stake in the Hornets—Here’s Jordan’s Net Worth
Legendary basketball player Michael Jordan agreed to sell his majority stake in the Charlotte Hornets to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall, according to a release by the NBA last week.Jordan is selling his majority stake in the Hornets at an estimated $3 billion valuation, ESPN reported.
As part of the deal, Jordan will still have a minority stake in the team. It’s unclear what Jordan’s total earnings will be from the deal, once finalized. With Jordan selling his majority stake, there will now be zero Black majority owners in the NBA, according to Axios.
A 14-time All-Star and NBA Hall of Famer, Jordan is widely regarded as the best basketball player in the NBA’s history. He has also been among the list of the richest athletes in the world. In 2017, 14 years after his retirement from the NBA, Jordan was the highest-paid athlete of all time, according to Forbes. Today, Jordan has a net worth of $2 billion, earning $1.8 billion from corporate partnerships with Nike, Hanes and Gatorade, according to Forbes.
Jordan’s net worth is made up of his NBA salary; lucrative partnership deals with companies such as Nike, Gatorade, and Hanes; and royalties from his Jordan Brand.
In his fifteen seasons with the NBA, Jordan won six championships with the Chicago Bulls, and was named Finals MVP each time.Jordan also played for the Washington Wizards for his final two years with the NBA, before retiring in 2003.
Jordan’s total career earnings with the NBA total $90 million, according to Forbes.
The NBA legend’s investment of $175 million to $275 million in the Hornets in 2010 helped make him a billionaire, Axios reported.In 2019, Jordan sold a minority stake in the team
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