It already been a known fact that the basketball legend, Michael Jordan, is worth millions. What's surprising however is that his wealth doesn't stop in just millions alone as his income continually increases. He is known as the first black billionaire athlete and 90% of his income comes from his ownership stake in the "Charlotte Hornets". His stake however is worth around $500 million of debt. As per Forbes, Jordan has a net worth of $1.1 billion, in which he earned $93 million with his basketball career.
As per Celebrity Net Worth, another source of Jordan's income is his deal with Nike. With his brand alone, Jordan was able to sell $2.6 billion worth of shoes, and this is for the United States alone. With sales this high, the company paid him $100 million in for Jordan brand sales. The numbers may seem high but there's even a bigger deal within the years to come.
As per reports, by 2020, his royalty would drastically increase. Nike is the leading sportswear company all throughout the globe, which has revenue of $30.6 billion revenue in the past year. Nike may already be the biggest sportswear company, but they're still stepping up their game. Mark Parker, Nike's CO, stated that during a recent investor's meeting, the company is aiming to hit $50 billion with their annual revenue by the year 2020. Half of the amount from the revenue will being coming from women's apparel business, which made $5.7 billion worldwide just last year.
Parker then added that they would want to move the Jordan brand into something that is primarily limited o basketball as it's been boosting Jordan's brand revenue for over 30 years. By doing so, Parker stated that the Jordan brand is set to go up to a $4.5 billion business by 2020.
