Michael Jordan is perhaps the greatest basketball player of all time, and he’s also a very successful and very smart business man.
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The Bulls legend built up his net worth well after his playing days. Although he was the highest-paid player in the league during his time, he made most of his money after his career was over.
From investing in the right businesses to owning the Charlotte Hornets, and of course, his Jordan brand. Jordan’s royalties with Nike is probably his biggest money maker.
Jordan has also made a series of great investments that have netted him great profits. From brands like Coca-Cola, Wheatie’s, Chevrolet, Gatorade, and Hanes, he’s managed to reach a $2.1 billion net worth.
Michael Jordan still competes in competitive sports.
He owns the Charlotte Hornets, an $8M boat that he uses in fishing tournaments, and one of the country’s most exclusive golf clubs.
But today’s email breaks down his latest investment in NASCAR.
Read: https://t.co/WhhuFamdXv pic.twitter.com/Pawo33qzY3
— Joe Pompliano (@JoePompliano) October 5, 2021
Michael Jordan used the US flag to protect his future $150 million profit
Jordan’s Nike deal earns him a whopping $150 million a year. In the 1992 Olympics, Jordan’s loyalty was put to the test, and, as he’d later start to realize, his $150 million a year income.
The 1992 Olympic Team is iconic for several reasons. Jordan, Larry Bird, Magic Johnson, and several other legends suited up for the most dominant performance Team USA has had in the Olympics.
However, there was one problem for Jordan. Reebok sponsored Team USA’s clothing for the medal stand which put Jordan in a tough bind.
He couldn’t abandon his loyalty to the Nike brand, and so Jordan cleverly used the American flag to cover the Reebok logo on the right shoulder of the uniforms.
Jordan wasn’t alone either. Magic Johnson and Charles Barkley followed up right behind him. In fact, Jordan’s rejection of Reebok was so impactful that Reebok stopped sponsoring clothing for the US Team from the 1998 Olympics, ending a seven decade streak.
Michael Jordan was so loyal to Nike as an ambassador dat during d 1992 Summer Olympics, at the medal presentation (USA Basketball team won the gold medal), he wrapped d American flag around him to cover d very obvious Reebok logo on their track.
That’s how to be an Ambassador! pic.twitter.com/3AdCFsOvq8
— CHISOM (@_PLICE) April 1, 2021
Jordan definitely protected his future wealth with that move. Earning $150 million a year keeps him rich and happy right now, and so why wouldn’t he defend his brand?
