Michael Jordan is the face of Nike – he has been and will continue to be it for the foreseeable future.
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Michael Jordan was the name that propelled Nike into the Stratosphere of the sneaker world – they have paid him out handsomely for that. From being one of the only rookies to get a signature line from day one to become a multi-billionaire, Nike has had MJ’s back for a good part of 4 decades.
Jordan almost did not sign with Nike and that one signature could have changed the landscape of the sports apparel industry as we know it. But it did materialize, and the Jordan brand is now worth an estimated $10 billion. There has never been an athlete in the history of the game whose merchandise has generated such a craze for almost half a century.
What does Jordan get in return for all of this? A yearly paycheck of a whopping $150 million. But going back to reverse engineer his earnings, Jordan gets paid only 5% royalties per shoe sold. His signature shoes sell for anywhere between $180-$220, which means he gets anywhere between 10-12 dollars per shoe. That seems like a throwaway price, but based on the number of sneakers sold per year, he makes 3 times what Stephen Curry makes in a whole year.
Jordan decided to go the Walmart route – low income per unit, but sell millions of them a year. A genius tactic, considering there is little to no effort put in by him.
Michael Jordan need not worry about his wealth dwindling any time soon – he is set for 4-5 lifetimes
Jordan is one billionaire who deserves every single penny he earned. He put his body on the line for 13 years, winning 6 championships and millions of hearts in the process. Kids who were born after he retired wear his apparel with pride because he is an inspiration to them. Only time will tell if LeBron James can be that guy, but until then, MJ is still that man.
Jordan is so sorted in life, that buying a bespoke Rolls Royce Boat tail only costs him about 2 months in paychecks. To him, 28 million can be paid off in 60 days. He can buy 3 Bugatti pur sports a month, and still have money left over to eat out every single day at a 7-star hotel.
$150 million is a nice round figure to write about, but when put into perspective, it shows how massive his purchasing power is. He could walk into any building, and recreate that Batman scene of him buying a restaurant to just join a couple of tables. Michael Jordan is not just rich, he is Richie Rich rich.
