The recent sale of the Charlotte Hornets means that Michael Jordan’s overall net worth is now well over $3 billion with further room for improvement. This has also led to MJ being part of the Forbes 400 club, which means he is one of the 400 wealthiest people in the USA. Speaking about the kind of success MJ has had on the court, Washington Wizards owner and Jordan’s investment partner Theodore Leonsis recently gave his take on MJ’s financial monstrosity.
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Worth $2.2 billion himself, according to Forbes, Leonsis said that, unlike most entrepreneurs who only succeed once, MJ had succeeded a total of 3 times with his investments. Owner of multiple stakes in major sports franchises, the 67-year-old businessman also has his own venture capital firm.
His sports investments include stakes in the Washington Wizards, the WNBA’s Washington Mystics, as well as the NHL’s Washington Capitals. Leonsis has previously partnered with Michael Jordan as well and had some choice words for the NBA legend.
Michael Jordan receives some high praise from investment partner Theodore Leonsis
Leonsis has invested in multiple Washington-based sports teams, which has seen his net worth increase to $2.2 billion. He was worth only a billion back in 2018 and has enjoyed huge success as an investor.
The same is true for Michael Jordan, who received some high praise from Leonsis. The 67-year-old said that while most investors end up succeeding once, MJ has had three huge successes in different fields,
“Michael’s one of the few people that have had success three times. A lot of entrepreneurs, they make it once. They have a big win, take their winnings, retire and [we] never hear from them again, or they try something a second time and it doesn’t work. He’s had three mega successes.”
Apart from being arguably the best player of all time, MJ has also seen his net worth rise steadily since his retirement. This is a result of the grand success he had with Nike’s Air Jordan brand.
Air Jordan is said to have earned Nike more than $5 billion in 2022 alone, which is an astounding number. In addition to that, Jordan bought his stake in the Hornets back in 2010 for $275 million. The $3 billion sale represents another huge financial victory that can prove more than enough for most investors around.
Michael Jordan’s net worth has steadily increased as a result of his smart investments
Michael Jordan’s success as an entrepreneur is not limited to his major holdings alone. Of course, the Jordan brand and the Hornets effectively represent huge victories.
At the same time, he also has stakes in multiple other companies, according to Investopedia. Jordan is a part-owner of the Draft Kings company which is valued at a whopping $11.8 billion.
He co-owns the 23XI NASCAR team, is the co-founder of the Cincoro Tequila brand, and is said to hold over 350 cryptocurrencies. Jordan’s wide assortment of wealth is a result of his financial acumen, which he has shown plenty of since retirement.
