Michael Jordan: NBA legend and his journey towards becoming world's richest athlete

Earlier this year, Michael Jordan ranked 1001st on the Forbes annual list of richest people with a fortune of $2.1 billion. Jordan retired from the NBA in 2003, where he reportedly earned less than $100 million. However, his Nike deal, endorsements and NBA team Charlotte Hornets have earned the six-time NBA champion a place as the world's richest athlete. 

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Michael Jordan career earnings: How is Michael Jordan the world's richest athlete?

While Michael Jordan was playing in the NBA, he reportedly earned around $98 million. Throughout the years, his salary increased to $33.1 million during his last season with the Chicago Bulls, but took a dip during his two seasons with the Washington Wizards. However, his Nike deal and endorsements increased his net worth over the years. 

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Michael Jordan's Nike deal

Michael Jordan's The Last Dance covers Nike's first deal with the Bulls legend and talks about they landed Jordan his signature brand. He signed a five-year $500,000 contract with the company, more than any other NBA deal back then. After Air Jordan was released, they earned $126 million instead of the expected $3 million. As per Forbes, Jordan now has a $1.3 billion deal with the Nike. 

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Michael Jordan endorsements

While Jordan played for the NBA, he endorsed brands like Coca-Cola, McDonald's, Wheaties and Chevrolet. Though he has now cut back on endorsements, he still has deals with brands like Hanes and Gatorade. As per reports, he has earned around $1.7 billion through endorsements deals till now. However, Jordan remains selective with his deals. As per his agent David Falk, Jordan once declined a $100 million deal. 

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Charlotte Hornets and other investments

In 2010, Jordan became the Hornets majority owner in a $175 million deal. Last year, he sold 20 percent of the team to fund managers Gabe Plotkin and Daniel Sundheim for a reported $1.5 billion. Along with the team, Jordan has also invested in brands like Sportrador, Muzik and aXiomatic. The NBA legend is also a partner for the Cornerstone Restaurant Group which runs five branded restaurants – Michael Jordan's Steakhouse. Jordan also owns a Nissan car dealership in North Carolina.