Michael Jordan is a global icon with a billionaire status. One of the strongest contenders for the NBA GOAT title, MJ’s basketball career has been one to go down in history. Jordan has earned a vast fortune from his numerous partnerships and endorsements of brands like Nike and Hanes. But exactly what companies does Michael Jordan own?
Over the years, MJ has owned various projects, both sporting and commercial, and the NBA legend is one successful businessperson. The majority stakeholder of the NBA franchise Charlotte Hornets, Michael Jordan, has owned multiple sporting companies over time. It is almost incredible that the franchise was acquired for $275 million in 2010, which amounts to over $1.7 billion today.
The first basketball personality to have gained billionaire status, Michael Jordan owns and partners with various other renowned companies. Said to earn over $60 million every year in brand revenues and royalties alone, MJ is one massive global icon. So how many companies does Michael Jordan own?
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Jordan has owned a variety of divergent establishments over the years. These include an automotive group with Nissan franchise, a chain of restaurants, a golf course, and real estate investments, besides multiple other sporting projects. His partnerships with various brands are said to have earned MJ over $1.8 billion in revenues. Here are some of Michael Jordan’s prominent business projects.
Nike’s Jordan Brand
After Jordan’s partnership with Nike in 1984, the launch of the iconic Air Jordan shoes took the world by storm. Recording about $130 million in sales in the very first year, Nike Jordan earns MJ millions every year on royalties alone. As to the exact percentage of his ownership remains somewhat undisclosed, Jordan is said to earn about 5% of every sale they make. MJ’s children, Jeff, Marcus, and Jasmine, are also associated with the operation of the Jordan brand.
Charlotte Hornets
A minority stakeholder since 2006, MJ acquired majority ownership of the franchise in 2010. Since then, the value of the NBA franchise has escalated over the years and stands at a massive $1.77 billion today. Jordan currently holds about 80% of the franchise stakes after he sold $300 million worth of minority stakes to D1 Capital’s Daniel Sundheim and Gabe Plotkin of Melvin Capital.
Michael Jordan in serious talks to sell majority stake in the Charlotte Hornets.
Michael Jordan bought a majority stake of the Hornets for $275M 13 years ago.
The team was recently valued at roughly $1.7B. pic.twitter.com/L1ndvhEsvp
— DunkTopic (@DunkTopic) March 17, 202323XI
The NASCAR Cup Series team 23XI is also another of Jordan’s sporting investments. Along with Denny Hamlin, MJ founded the racing team on September 21, 2020, that would compete in the NASCAR Cup Series. Jordan serves as the majority stakeholder of the racing team, expanding his presence across the sporting world. Bubba Wallace, Tyler Reddick, and Travis Pastrana are the current drivers of 23XI.
Bubba Wallace is the driver of the No. 23 car for 23XI Racing team, which is co-owned by Michael Jordan
Jordan is the first Black principal owner of a full-time Cup team since 1973
Wallace got his first Cup Series victory as a driver and MJ got his first win as a team owner 👏🏾 pic.twitter.com/YEnrDwr3qo
— Andscape (@andscape) October 4, 2021Michael Jordan Nissan
Michael Jordan’s incredible car collection is one beauty a piece. But the NBA legend also owns a Nissan dealership in Durham, North Carolina. It is an up-and-running firm with over $18 million in revenues as of 2022. Jordan’s automotive business dates back to 1995 and is just another testament to how well MJ excels in the field of business investments.
DraftKings
Jordan became an investor in DraftKings, an online daily sports contest and betting company. As the percentage of Michael Jordan’s ownership remains unknown as of today, Jordan has invested in the company since 2020.
James R. Jordan Foundation
Among MJ’s many philanthropic projects, the James R. Jordan Foundation is one of the largest operating organizations. The Foundation is focused on helping underprivileged children and also aids worthy causes. Partnering with his mother, Deloris Jordan, MJ had initiated the organization in memory of his late father, Jordan Sr.
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