How does Michael Jordan spend his US$1.7 billion net worth? The former NBA legend’s Nike deal and savvy investments in Cincoro Tequila and the Charlotte Hornets continue to pay off

Jan 7 , 2023

How does former NBA legend Michael Jordan spend his US$1.7 billion net worth? Photo: @michael_jordann_/Instagram

Since retiring from the NBA in 2003, Jordan’s Nike endorsements and business investments mean his annual earnings still eclipse LeBron James’ – and he’s now worth US$1.7 billion

The 59-year-old hasn’t just spent his cash on luxury mansions and cars, but on huge donations to charity as well as lawsuits against China’s Qiaodan Sports and investing in NFTs with Will Smith

Michael Jordan made less than US$100 million in NBA contracts as the league’s greatest player of all time, but that hasn’t stopped him from becoming a billionaire, with a whopping net worth of US$1.7 billion. His fortune is due in large part to the value of his NBA team, the Charlotte Hornets, and the Jordan brand. He was reportedly still making US$100 million a year from Nike royalties alone in recent years.

Known by his initials, MJ, he was the first sportsperson to become a billionaire – and his steady income lets him live a pretty amazing lifestyle. So how did he do it, and what does he splash his cash on?

Exclusive golf course

Michael Jordan, also known as MJ, was the first sportsperson to become a billionaire. Photo: @michael_jordann_/Instagram

Jordan loves to golf, and in 2021, the nickname of his exclusive golf course, Grove XXIII, surfaced. Dubbed “Slaughterhouse 23”, it earned the name because it was designed by Jordan, for Jordan, and aimed at maximising Jordan’s style of play against his opponents. He even has a custom, Carolina-blue golf cart emblazoned with the iconic Jumpman logo.

The Florida course has lavish amenities, including a drone delivery service that brings beer and other refreshments to the club’s members.

Michael Jordan’s golf course in Florida provides a drone delivery service that brings beers to quench the thirst of the players. Photo: Getty Images

Investment in Dapper Labs

In March 2021, Jordan was part of a US$305 million investment in Dapper Labs, the start-up behind the virtual trading card platform NBA Top Shot. Other investors included Will Smith, Kevin Durant, and US rapper 2 Chainz.

Thanks to his savvy investments and endorsement deals, Michael Jordan is laughing all the way to the bank. Photo: @michaeljordan/Instagram

The NFT company has since fallen on hard times as the crypto markets have cratered and recently had to lay off 22 per cent of its staff, according to a letter made public by Dapper Labs CEO Roham Gharegozlou.

Philanthropy

Jordan also donated US$2 million of his earnings from his 2020 docuseries The Last Dance to Feeding America’s food banks in Chicago and the Carolinas. “In these challenging times and in a year of unimaginable difficulty due to Covid-19, it’s more important than ever to pause and give thanks,” he said in a statement.