He is largely considered to be the greatest basketball player ever. One of the most fascinating figures in NBA history, Michael Jordan is also a fascinating person. In addition to all the honors and awards he has received during his long and distinguished career, His Airness has also amassed a substantial fortune. However, the focus of this essay is on Michael Jordan’s estimated net worth in the year 2022.
His parents, both professors, were present when he was born on February 17, 1963, in Brooklyn, New York, as Michael Jeffrey Jordan. His mother, Deloris Jordan Sr., as well as his father, James R Jordan Sr., both worked as equipment supervisors, in addition to his mother. During Michael’s early childhood, the family moved to Wilmington, North Carolina, where he attended school.
At Emsley A. Laney High School in Wilmington, Michael participated in basketball, baseball, and football as a member of the varsity squads. As a sophomore, he made headlines when he attempted to make the varsity basketball team but was turned down because he was “only” 5 foot 11 inches tall.
As a result of the rejection, MJ became outraged, and he dedicated his life to being a successful member of the Junior Varsity basketball team. A four-inch growth spurt in his height during the summer between his sophomore and junior years secured his spot on the varsity football squad for his junior year and beyond.
Michael was a dynamo on the varsity basketball team during his junior and senior years of high school, averaging 25 points per game during both his junior and senior years. When he was in his final year of high school, he was selected to play for the United States in the 1981 McDonald’s All-American Game, in which he scored a total of 30 points.
Not surprisingly, a slew of collegiate programs, including Syracuse, the University of Virginia, Duke, and the University of North Carolina, took an interest in Michael, who was now 6 feet 6 inches tall, which did not come as a surprise. Finally, he decided to attend the University of North Carolina at Chapel Hill.
His first season at North Carolina, where he averaged 13.5 points per game and was awarded the Atlantic Coast Conference’s Freshman of the Year, helped the Tar Heels advance to the 1982 NCAA Championship game against the Georgetown Hoyas in Durham, North Carolina. Michael hit a game-winning shot over Georgetown Center Patrick Ewing in the final 15 seconds of the game to seal the victory.
After all, was said and done, this would prove to be the game-winning shot. Michael would subsequently acknowledge that this game, and notably that particular jumper, represented a watershed point in both his own confidence and his future basketball career.
Michael Jordan’s NBA Career
Michael starred for the University of North Carolina Tar Heels for three seasons, winning various trophies along the way, including the Naismith and Wooden College Player of the Year awards in 1984. He graduated from UNC a year early in order to be eligible to participate in the 1984 draught. Micheal returned to the University of North Carolina in 1986 to finish his degree and received a Bachelor’s degree in geography from the university. His determination was admirable.
In a surprising turn of events, he was not the first person to be chosen. He was chosen in the THIRD round, following Sam Bowie (number 2) and Hakeem Olajuwon, who were both taken in the first round. After going third overall in the 2010 NBA Draft, the Chicago Bulls selected Michael as their first-round pick.
Michael signed his first professional contract with the Chicago Bulls on September 12, 1984, marking the beginning of his professional career. A seven-year, $6 million contract with an average yearly pay of about $850,000 was signed, with a total contract value of $6 million. In the season before to Michael’s entrance, the Bulls only sold out six games in the whole season before joining the team. During Michael’s first season, the number of people who came to the games more than doubled from the previous year.
At the conclusion of his fifth season, Michael and the Chicago Blackhawks reached an agreement on an eight-year, $25 million contract extension. It was the most significant deal in the history of the NBA up to that point in time. The outcome was that Michael’s remuneration grew to around $5 million per year as a result of the agreement.
Michael signed a one-year contract worth $30 million with an entirely new firm in 1996 when his previous contract came to an end. The next year, he agreed to a one-year contract worth $33.14 million dollars with the team. After accounting for inflation, the sum of the two amounts to about $55 million in today’s money.
Michael departed the NBA but returned to the league twice more to continue his career. He had previously retired from professional baseball to play in the lower leagues, but he had returned to the game after that. The Washington Wizards were his second team after returning to the NBA for the second time in his career. He played for them for two seasons.
Michael Jordan Nike Deals
For a long time, James Worthy’s $150,000-per-year contract with New Balance was the biggest sneaker endorsement deal in the world. With his five-year deal with Nike, Jordan shattered all prior sponsorship records, earning $500,000 per year. Over the course of five years, Jordan was paid $7 million in cash and Nike stock options.
Michael, who had never owned a pair of Nikes before signing with the team, had hoped to join with Adidas instead before accepting the contract. However, Michael decided to accept Nike’s offer since it was too excellent to pass up and too high for Adidas to match.
Michael Jordan Real Estate
With his wife and children, Michael currently makes Jupiter, Florida, his primary place of residence. Jack Nicklaus’ Bear’s Club enclave is home to an 11-bedroom, 26,000-square-foot mansion that sits on three acres and boasts a total space of 26,000 square feet.
After purchasing the property in 2011 for $4.8 million, he invested an additional $7.6 million over the next two years to turn it into his dream home. Along with the lake house in Charlotte, North Carolina, he also owns a luxury condo in the city to be near his Hornets colleagues. The lake house is worth $3 million. Salt Lake City, Utah, is rumored to be his second home.
Highland Park, where Michael resides with his family, is still his home. Michael bought a plot of land in Highland Park in 1991 and immediately started building his dream house. The end result was a 32,683 square foot main residence on 7 acres of land. In addition to nine bedrooms and 15 bathrooms, the property includes an NBA-quality basketball court, a 15-car garage, a card room, a tennis court, a golf course, a cigar room, and much more. In 2013, Michael put a $29 million price tag on the mansion he was selling. May 2015 saw the property’s price fall to $14.8 million.
Michael Jordan Net Worth 2022
Michael Jordan has a net worth of $2.2 billion as of April 2022. That’s a $700 million drop from the previous time Forbes published it in 2020, which is still a huge number. What was the reason for the decrease? Some speculate that the sudden rise in GameStop stock prices earlier this year may be to blame. However, no specific cause has been revealed.
The ownership of the Charlotte Hornets by Michael Jordan in 2010 has also boosted his fortune. He paid $175 million for the NBA team, which turned out to be a wise investment given the rise in the value of NBA teams in the last decade. The franchise now has a value of approximately $1.5 billion.