Kanye West Accused Nike Of Ripping Off $2.2B Worth Michael Jordan
Kanye West or Ye is devalued at $400M from $2B after his anti-Semitic comments drove all his business partners away. This included his Yeezy brand, with Adidas.
Amidst this, we revisit a statement from Kanye West about the "unfair" difference in the amount of money an artist, in this case, Michael Jordan & a business owner makes.
Phil Knight is the founder of Nike. The company signed with Michael Jordan during his rookie season in 1984.
Who is Phil Knight?
Michael Jordan got a 5-year contract for half a million a year!
Back then, this was the biggest shoe company deal with an NBA player, with Magic Johnson's at only $75,000 or James Worthy's at $150,000.
While Michael Jordan makes $150M from Nike annually, Kanye West points out that Phil Knight is worth over $40B without having to put himself out there, implying MJ is undervalued!
Who Owns The Jordan Brand?
The Jordan Brand's influence in NBA put Nike on the map. For this, Michael Jordan receives royalties & also had a little stake in Nike. The Jordan Brand is entirely owned by Nike only.