Michael Jordan is widely considered to be one of the greatest basketball players of all time, and he has made use of his great status to create a very successful business empire. The NBA’s six-time champion has left an enormous financial legacy from his Jordan Brand and investments in professional sports teams. Jordan has become one of the wealthiest athletes in history with an estimated net worth of $3 billion.
So, without further ado, here is a closer look at the popular brands and businesses Michael Jordan has owned or been a co-owner of.
1. Jordan Brand (Nike) – A Billion-Dollar Legacy
The Jordan brand, which was launched as a subsidiary of Nike in 1997 is one of the most famous and wealthiest sneaker brands in the world.
When the NBA rookie Jordan came in in 1984, he signed with Nike. According to the terms of the deal, Nike was to give him $500,000 and also provided him with a signature shoe line, Air Jordan. The hit product was the first Air Jordan sneakers that went on to sell $126ml in the first year of release.
Jordan Brand has continued to be a force within the sneaker industry today. Jordan Brand’s total earnings for 2022 were $5.1 billion, which is 5 percent of the total, so Mike Jordan made about $256 million from the branding company in 2022 alone. Nike has paid him over $1.3 billion in his lifetime.
Apparel, accessories, and footwear are made available by Jordan Brand which is a cultural phenomenon, especially among athletes and sneakerheads.
2. Charlotte Hornets (Former Ownership)
In 2010, Jordan made a big deal by purchasing a majority stake in the NBA’s Charlotte Hornets (improperly known as Charlotte Bobcats) for $275 million. He became the first Black majority owner to own an NBA team.
During his ownership, the Hornets were financially growing, and in 2023 Jordan sold majority of his stake for $3 billion, making him the richest NBA player ever.
3. 23XI Racing (NASCAR)
In 2020 Jordan expanded his sports investments to the world of NASCAR as partner of 23XI Racing with co-founding owner Denny Hamlin. NASCAR driver Denny Hamlin and his team partnered with the group, which boasts known driver Bubba Wallace.
Hamlin’s number 11 and the racing team’s are named for Jordan’s legendary number 23. 23XI Racing, since its debut, has become a popular name in NASCAR and its team is now estimated to be worth $150 million.
4. Cincoro Tequila – A Luxury Liquor Venture
Cincoro Tequila is also a premium tequila brand formed in 2019 with Jordan and five other NBA team owners.
Very quickly, Cincoro nabbed people’s attention for its high-end, award-winning tequila that can cost more than $300, all the way up to over $4,500 per bottle. Through 2022, the brand had sold 1.5 million bottles of 23 awards brand at various spirits competitions.
5. High-End Steak House – Michael Jordan’s Steak House
Michael Jordan’s Steak House is one of Jordan’s influence branches in the business of restaurants. A restaurant chain with locations in Chicago, Connecticut, and Washington, the upscale dining comes with premium steaks and gourmet dishes.
This is an all-time favorite among sports fans and food fanatics which only goes to reiterate Jordan as a player in the hospitality industry.
6. DraftKings – A Stake in Sports Betting
DraftKings is one of the biggest sports betting and fantasy sports platforms, and Jordan is known to be an equity stakeholder in this.
He is also a special adviser to the company under his deal, with advised DraftKings regarding business strategies, branding and sports partnerships. It is one of the main players in the increasingly popular sports betting market and the firm is worth around $11.8 billion.
7. Expanding the Jordan Brand – Jumpman 23
The Jumpman 23 is a subsidiary of Nike’s Jordan Brand undertaking product development, branding, and collaborations. Beyond being focused on producing exclusive sneaker releases, endorsements,s, and athlete sponsorships, Jordan’s division continues to grow the influence of the Jordan Brand in the sports and fashion world.
8. Jordan Golf – An Exclusive Golf Venture
Jordan owns an ultra-private golf club, which is called Grove XXIII, from Hobe Sound, Florida as an avid golfer. Also known as “Slaughterhouse 23,” the course has an exclusive membership, cutting-edge design, and luxury amenities. Celebrities and elite athletes all look forward to it.
