One of the greatest basketball players of all time, Michael Jordan sold the Charlotte Hornets after owning the team for a full 13 years. According to ESPN, the team was purchased for three billion euros by Gabe Plotkin, a minority owner of the Atlanta Hawks, and Rick Schnall, a minority owner of the Hornets. Back in March, it was reported that Jordan was negotiating the sale of his stake in the team, which was then valued at over 1.7 billion dollars. He bought it in 2010 for a mere 275 million dollars, making history as the first African American to be the majority owner of an NBA franchise.
Entrepreneur and Donor
Due to a wealth that was estimated at two billion dollars even before this sale, Michael Jordan is one of the most successful and wealthiest former athletes of all time. He earned just under one hundred million dollars as the most successful NBA player in history, while the rest he accumulated thanks to an excellent business acumen. Just from royalties paid to him by Nike, Jordan earns over one hundred million dollars annually, and his Nike Jordan brand generates annual revenues of 3.6 billion dollars. All earnings from the filming of the Netflix documentary, Last Dance, which reportedly reached two million dollars, as reported by Business Insider, the former basketball player donated to so-called food banks, with the Jordan Brand committing to donate 100 million dollars over ten years, starting in 2020, to organizations focused on racial equality, social justice, and education. In March of this year, he participated in a total investment of 305 million dollars in Dapper Labs, the startup behind the NBA Top Shot platform, and recently acquired a stake in Draft Kings sportsbooks. He also has sponsorship agreements signed with companies such as Gatorade, Upper Deck, and Hanes, several restaurants, a stake in the tequila brand Cincoro, and the Nissan dealership in North Carolina.
