Michael Jordan has always been the greatest—now he’s the richest basketball ever in the league’s history.
According to a recent Bloomberg report, the NBA icon’s net worth currently sits at $3.5 billion, the largest fortune any athlete within the organization has earned. This is attributed to a licensing deal with Nike the recent sale of his majority stake in the NBA’s Charlotte Hornets, and other major investments.
According to a report from The Street, Jordan earns about $255 million every year from the Nike deal, which dates back to 1984 when Jordan’s career arc started ascending with the Chicago Bulls.
Earlier this month, it was reported by ESPN that Jordan majority stake in the Charlotte Hornets to a group led by Rick Schnall and Gabe Plotkin.
“I’m thrilled to be able to pass the reins to two successful, innovative and strategic leaders in Gabe and Rick,” Jordan said in a statement issued August 3. “I know the Hornets organization is in great hands moving forward. I’m excited about the future of the team and will continue to support the organization and the community in my new role in the years ahead.”
“We want to thank Michael for this opportunity, as well as his support throughout this process,” Plotkin and Schnall said in a combined statement. “During his ownership, he brought stability to the Hornets franchise, achieved many business milestones, reconnected and reinvested in the Charlotte community and has the organization positioned for greater success. We look forward to building upon this success in the years to come.