Michael Jordan is the richest athlete in sports history.

But did you know that only ~4% of his wealth came from his NBA salary?

This is the story of how MJ turned $93M in salary into $2.3 billion, cementing his status as a legend on & off the court.

Time for a thread

1) Michael Jordan is widely considered the greatest basketball player of all time.

His resume includes:
- 6 NBA Championships
- 6 NBA Finals MVPs
- 10x All-NBA 1st Team
- 14x All-Star Selection

But should we also be calling him the greatest athlete investor ever?

2) Michael Jordan made $93M in NBA salary throughout his career.

That's good, right?

It's great, until you release that his own "underpaid" teammate Scottie Pippen made $17M more than him - despite playing 2 less years.

How about off the court?

Now that's a different story…

3) Similar to his on court play, Michael Jordan has also dominated off the court.

MJ has earned an estimated $1.7 billion in endorsements since he entered the league.

Endorsements include:
- Gatorade
- McDonalds
- Coca Cola
- Hanes

And most importantly, Nike.

4) When it comes to Nike, Michael Jordan is king.

Thanks to a 5% royalty on all Jordan Brand shoes & merchandise, MJ has made over $1.3 billion off Nike since 1984.

The best part?

The cash keeps coming.

With $3 billion in sales last year, Jordan took home $130M in royalties.

5) When it comes to investments, the Charlotte Hornets might be Michael Jordan's best.

In 2010, Jordan paid $180M to own 97% of the team.

After a decade of losing, Jordan sold 20% of the team in 2019 - which valued the franchise at $1.5 billion.

6) Outside of the Hornets, Michael Jordan has worked hard to diversify his investment portfolio.

In 2015, Michael Jordan and Mark Cuban participated in a $44M funding round for sports data company Sportradar - which is currently valued at $2.5 billion.

7) Michael Jordan's other investments include:

- Muzik (Headphones)
- Gigster (Tech)
- aXiomatic (eSports)
- Cincoro (Tequila)
- A Car Dealership
- Cornerstone Restaurant Group

As if that wasn't enough, he also has a minority stake in the Miami Marlins.

8) Michael Jordan undoubtedly had fame and cash to invest with, but all too often we hear of athletes with similar potential waste it away.

MJ is an incredible example of how an amazing athlete can continue his domination once leaving the game.

9) Through hard work and dedication, Michael Jordan became the best basketball player ever.

Since retirement, he has proven to be just as good at business as basketball.

Ultimately, Michael Jordan will go down as one of the greatest athlete investors of all time.

If you learned something today and want to receive more updates about the business and money behind sports, subscribe here to receive my free daily newsletter. https://huddleup.substack.com 

Sources:
https://www.forbes.com/sites/kurtbadenhausen/2020/04/17/the-inside-story-of-how-michael-jordan-became-the-worlds-richest-athlete/#56fa60955276

https://www.popsugar.com/fitness/michael-jordan-salary-year-by-year-47449450

https://www.insider.com/michael-jordan-nike-billions-wanted-adidas-deal-2020-5