Mike you're reporting that Michael Jordan is the first US professional
athlete to become a billionaire that's right these days when someone brings up
the greatest of all time in the world of basketball there's generally one face
that jumps to mind Michael Jordan was a global icon during the years he was an
active player in the NBA he was also ratings gold appearing in
four of the highest-rated NBA Finals of all time peaking at 29 million viewers
per game in 1998 with everyone in the world stock living under lockdown right
now Michael Jordan has returned to our television screens just when we needed
him the most yes PN's the last dance follows Jordan's
final season with the Bulls and provides a retrospective on his remarkable career
since the plain side of his career is going to be covered solo in his
documentary we hear before their famous thought now would be a good time to
explore the rich life of Michael Jordan to get an inside look at one of the
richest people on the planet and the world's first billionaire athlete that's
right I said billionaire my man joined the three comma Club back in 2014 thanks
in part to the skyrocketing value of his NBA team the Charlotte Hornets and of
course Jordan Brand today he's sitting at a current net worth estimate of 2.1
billion in 2019 many billionaires around the world lost money but not Jordan in
fact his net worth rose by an estimated 300 million so today we're gonna explore
the two sides of Jordan's wealth his earnings and his expenditures how's it
going guys welcome back to before they're famous as you can see I'm
clearly not Michael McCrudden just filling in for this one video my name is
Jared Bronstein some of you guys may know me from previous videos as I have
hosted on here before but either way let's get right into it
according to Forbes MJ's current here the earnings are roughly in the hundred
and forty five million dollar range and he's making more now than he ever did as
an NBA player he ordered a 94 million in total NBA
salary if you want some perspective on those numbers for 2020 Jordan's first
contract he signed in 1984 was worth 2.8 million over four years that's about
seven million dollars today adjusting for inflation by comparison last year's
number one pick Diane Williamson will make 44 million over four years
it wasn't until Jordan's 12th season with four NBA chips and for MVP trophies
under his belt that he was awarded the league's top salary of 30 point 1
million and the following year he signed another one-year contract this one worth
33 point 1 million before retiring in 1998 now the NBA might have made Jordan
famous and wealthy but it was his endorsement deals that made him rich
over nearly four decades he earned an estimated 1.7 billion off the court from
brands like coca-cola McDonald's Wheaties Chevrolet Gatorade upperdeck
Haynes and of course Nike I'm sure you guys feel sure you know what the thing
is I never wore nike shoes until I sign a Nike contract all to college we will
converse and up to that point my favorite.she was a
needed chute you know as of 2020 it was reported that Jordan was making a
hundred million a year from Nike royalties alone which is a far cry away
from what he started off making it from when he initially signed with Phil
Knight for five hundred thousand dollars a year in 1984 today Nikes Jordan brand
brings in roughly three billion revenue each year and is still so popular that
partnerships with more modern brands like Fortnight happen on the regular
even today with the coronavirus impact in sales figures all over the world
sales for Jordan Brand are still looking to increase over what they made last
year the brand had its first billion dollar quarter in late 2019 further
proving that absolutely nothing can stop Michael Jordan from winning what hope
does something like coronavirus really have against the goat but I you know I
allow them to be and let the game play in this era before we jump into Jordan's
ex-ministers we've take a look at the last huge part of Jordan's business
portfolio his ownership of the NBA franchise the Charlotte Hornets now this
is a tricky Beast because it kind of straddles both worlds in terms of income
versus expenditure obviously find the franchise and maintaining its running
costs is a great expense but the franchise market value is the very
reason why Jordan is now a billionaire he first bought a majority stake in the
Hornets back in March of 2010 when they were still known as the Charlotte
Bobcats for a value of around 175 million from BT founder Robert Johnson
according to multiple sources the price was deeply discounted and Jordan paid
for the deal in cash in June of 2014 a series of events happened that would
increase the Hornets value by a whole hell of a lot first a new collective
bargaining agreement cut players shares of revenue from 57 percent to 50 percent
in 2011 then when Steve Ballmer paid 2 billion for the Los Angeles Clippers in
2014 he did so at three times the previous record for an NBA franchise
price inflating the value of all franchises in the process finally a new
NBA TV deal on ESPN and TNT tripled the value of the previous contract and all
of these things are taken into consideration when value in an NBA
franchise the team is now worth 1.5 billion and for a time Jordan owns 97
percent of equity in the club in 2019 Jordan sold a minority share of the
Hornets roughly 20 percent to new york-based hedge fund managers Jordan is
currently the only former NBA player with a controlling stake in one tool
each 30 franchises and despite having said
within a championship as an owner would be more gratifying than any of this six
rings he won as a player he has yet to ever pay the luxury tax for going over
the salary cap threshold which is usually one of the first steps toward
building a true contender majority owner all right let's jump into the fun stuff
and take a look at how Jordan spends his money
the man has at least five homes that we keep track of at the time of this
recording his biggest home is an enormous mansion in Chicago that's
actually been on the market for over seven years Jordan had the entire house
and the surrounding property built from scratch to suit his personal tastes the
house was originally listed at 29 million dollars and features an infinity
pool with the grass island in the middle of it a door from the Playboy Mansion a
tennis court a putting green nine bedrooms 19 bathrooms a cigar room with
plenty of card tables a full gym and of course a full basketball court the price
has dropped several times over the years and is now going for fourteen point nine
million about half of what it was originally listed at the exact price is
40 million eight hundred and fifty five thousand okay almost surely anywhere on
the internet but hey thanks to us now you don't have to look apparently
George's even tried to sweeten the pot by throwing in a complete set of Air
Jordans to ever finally purchases the house and with him reportedly paying
close to a hundred thousand dollars a year in property taxes I can see why
he's doing anything he can to move off the property since put that house on the
market Jordan has bought a series of other properties around the country
he owns a lakefront house in Cornelius North Carolina which is about 30 minute
drive from the Hornets arena he purchased this house for 2.8 million
after it was originally listed as 4 million he also owns a condo in downtown
Charlotte in the same building as Cam Newton condos reportedly go for around
1.5 to 3.5 million in that building he also has a 10,000 square foot house for
sale in Park City Utah for 7.5 million dollars
Jordan currently spends a lot of time living in his dream home that he built
for twelve point eight million dollars in Florida in 2013 he reportedly spent
4.8 million on property and then a further 7.6 million on renovations this
3 acre home is located in the ultra-exclusive Bears club community a
golf course where the initiation fee is as high as three hundred and fifty
thousand dollars with a 25 thousand dollar annual fee this home has 11
bedrooms a pool house a two-story guardhouse a basketball court and the
room with a heavy-duty ventilation system for removing cigar smoke I've
been after all Jordan once told Cigar Aficionado magazine that he smokes six
cigars a day now let's take a look at Jordans methods of transportation the
first cars Michael ever bought were a collection of Mercedes and Pontiacs he
bought seven cars at once enough for his families and friends since then he's
been spotted in all kinds of cars from Ferraris to Land Rovers by the way he
also owns an entire Nissan dealership in Durham North Carolina but even more
impressively Jordan doesn't stop at just nice whips he also owns a private plane
that's painted Carolina blue and the ID number contains his jersey number 23 and
the number of titles he won six he also owns a custom Carolina blue golf cart
with the Jumpman logo on it and I know you're thinking where does he even use
that thing well he also paid for and built a private golf course because he
was annoyed by the pace of play at his previous Country Club his course located
in hope sound Florida and is called Grove 23 because well I mean what else
did you guys really expected to call rounding out his investment portfolio
jordan has participated in finding switzerland-based sports data provider
sport radar headphone Bren music freelance tech marketplace gigster and a
parent company of eSports SWAT team liquid AZ o matic which was recently
valued at 320 million dollars he's also teamed up with fellow NBA
owners Jeanie buss of the Lakers weddings of the Bucks and wicker is big
of the Celtics to launch a super premium tequila brand
SimCorp o the most expensive bottle in the line retails for as much as $1,600
MJ also joined an investor group that bought MLB's Miami Marlins for 1.2
billion in 2017 along with longtime pal Derek Jeter
George reporter Lee owns less than 1% of the team finally toured as a partner in
cornerstone Restaurant Group which runs five Jordan branded restaurants
including a steakhouse in Washington and Michael Jordan's restaurant in Chicago
which serves elevated American classics in terms of legal cases and lawsuits
Jordan has as per usual often come out on the winning side of things in 2016 do
you want a lawsuit against a Chinese sportswear company that was using a logo
similar tere Jordan and symbols were also used on the shoes that spelled out
MJ's name in Chinese to supermarkets Dominic's and Jewel Osco also associated
themselves with his brand without permission he sued and won millions
which she then donated to 23 charities to benefit the children of Chicago the
one time he lost in court was during divorce from his wife winning of annoyed
who was the mother of three of his five children the pair were married in 1989
and divorced in 2006 the dissolve it cost MJ a walking 168 million bucks but
ex-wives and children are the only places that Jordan sends his money he's
also donated 7.2 million dollars to build to Novant health clinics in
Charlotte North Carolina for thirteen years he's also hosted an annual
celebrity charity golf tournament in Charlotte and back in 1996 he opened the
Jordan Institute for families more recently Jordan has joined most
other NBA owners in pledging to pay arena workers for Miss games during the
coronavirus shutdown and he's also promised to donate his entire earnings
from the last dance around four million to multiple charities I feel like maybe
23 finally before we go I thought we'd take a look at one of the many many
urban legends when it comes to Michael Jordan's gambling prowess Hughes
reported one of the most famous gamblers of all time with so many different
rumors and stories that it would take a dozen these videos just to go through
them all but I found one equipment Charles Barker that sums up his legend
at Asst well quite nicely we plan a couple hundred dollars a hold nothing
but the heap he play stuff we got for like a hundred thousand dollars I like
he's like Charles picked that up I might just put this for $200 he's like picked
that up Charles get out of my way you're in my line that's how much that putt for
he's like three hundred thousand dollars let me get out of here hey you like
seriously it was crazy man well there you have it for the rich life of Michael
Jordan like I mentioned off the top when he take into consideration all of his
income and subtract all of the many expenses he has you're left with a
whopping 2.1 billion net worth which is good enough to make Jordan the Thousand
and One richest person on the planet pretty remarkable for a kid who started
off in the streets of North Carolina I hope you enjoyed this video and if you
want to learn more about the rich life of any other athlete sound off in the
comments down below don't forget to check out our other
recent videos in this series like doja cat to coxy 69 and yes even Carol basket
alright guys stay safe I promise you Mike will be back soon so you know take
it easy on me in the comments down below or don't because I've been on this
channel before so I don't to expect I've been your host here at Braunstein and
we'll see you the next one