How Michael Jordan Spent $2 BILLION Dollars!

[Music] Michael Jordan might have been an NBA superstar but did you know that less than 100 million of his 2.1 billion dollar fortune is from playing basketball sponsorships with Nike a majority stake in another high-profile basketball team and his own private golf course have all helped make Michael Jordan the richest former athlete in the world that's why this superstar is able to afford a twenty nine million dollar custom compound in Chicago on 80 million dollar yacht and over 40 different luxury vehicles but that's just the basics of this basketball giants lavish lifestyle here's how Michael Jordan makes and spends his billions Michael Jordan is best known for his 14-year career with the Chicago Bulls but even earning six championships with the Bulls wasn't enough to bring his NBA earnings over the 100 million mark in total Jordan earned about ninety million dollars over his NBA career and 63 million of that came from his final two seasons with the Bulls so how exactly did Michael Jordan become a billionaire let's start with his sponsorships Nikes Air Jordans are iconic but Nike founder Phil might actually nabbed the NBA Rookie for just 250,000 dollars a year back in 1984 Nikes jordan brand alone now brings in roughly three billion dollars in revenue each year as of 2015 Jordan was profiting off the sponsorship by making around 100 million dollars a year from Nike royalties alone that makes up a pretty big chunk of the basketball giant's yearly earnings which according to Forbes have been roughly 145 million dollars each year since 2015 but what really helped Michael Jordan skyrocket to billionaire status is his move from on the court to behind the scenes he owns the majority of the NBA's Charlotte Hornets which he bought in 2010 for 175 million dollars by 2014 the team had officially made him a billionaire their estimated to be worth more than 1.5 billion and he owns 97 percent of the equity Michael Jordan is also a minority owner of an MLB team the Miami Marlins having been part of Derek Jeter's Investment Group Jeeter owns 4% Jordan owns less than 1% but he doesn't need to own a second team to keep his fortune intact rounding out his yearly salary our sponsorship deals with companies like Gatorade upperdeck and Haynes he's also appeared in a Nike fortnight collab and he's been branching out into restaurants he owns 1,000 north in Jupiter Florida Michael Jordan's steak house in Connecticut Washington and Chicago and Michael Jordan's restaurant in Chicago and if all of that isn't enough Jordan also owns a car dealership that's right it's a Nissan dealership in Durham North Carolina but the only thing more interesting than all the ways Michael makes his money is how he spends it and there's no better example than his numerous luxury homes Michael Jordan is a big fan of Florida that's why he spent 12 point eight million dollars building his dream house in Jupiter back in 2012 the house boasts 11 bedrooms a state of the art media room appropriate for cigars which is one of Jordans favorite pastimes and of course an athletic wing with a full-size basketball court the property is also surrounded with tall trees for privacy and there's lots of rooms for guests and staff but the best part of the private property is that it's located in the prestigious Bear Club which is a super private golf course for the rich and famous his love of golf can be fed by just taking a quick stroll across his backyard and he must really love golf because this mansion is the most expensive non waterfront property in the whole area but Michael Jordan can get his fill of waterfront views at some of his other homes like this 2.8 million dollar lake house near Charlotte North Carolina this home is surrounded water on three sides plus it has a pool and in traditional Michael Jordan fashion it's located on the peninsula Golf Course pair that with the open concept high ceilings and sprawling staircases and Michael's got himself a vacation home fit for a king when it's time to change up views Jordan can always trade water for mountains at is 7.5 million dollar home in Park City Utah the home has been on the market for a year but just check out these incredible views of the Wasatch Mountains that the NBA star used to enjoy on the regular the 10,000 square foot property includes five bedrooms eight bathrooms a gym an infinity pool and a home theater they are also cascading waterfalls outside and the property apparently has a golf room too since this one isn't located on a golf course but if the golf room doesn't live up to expectations there is a golf club in Spa located nearby but we have saved the most impressive home for last on our Michael Jordan house tour this twenty nine million dollar mega mansion is located in Chicago this place can't be confused for anyone but Michael Jordan's the thirty two thousand six hundred and eighty-three square-foot home features nine bedrooms and 19 bathrooms with a 15 car garage and an NBA quality basketball court it features an extensive patio and a unique infinity pool with a small island in the middle for lounging on sunny days there's also a home cinema an extensive wine cellar and a lounge slash cigar room in the basement plus one of the houses many living areas features a pair of unique doors these are the original doors of the Chicago Playboy Mansion talk about a cool collector's item unfortunately Michael Jordan is ready to split with the property though that might be good news for someone in the market for a mansion at a discount eight years after first listing the home the asking price is down to fourteen point nine million it's estimated that jordan has paid about six hundred and eighty thousand dollars in property taxes while trying to sell the house and he still pays a staff to keep it up and running Jordans still looking for a very particular client who loves his specific style of living let us know if you would jump at the chance to own this home in the comments section below while house hunting Michael might have some trouble finding one big enough for all of his cars even a 15 car garage isn't quite up to the job since the basketball stars collection is made up of more than 40 vehicles the very first cars that Michael Jordan bought after he received his reported 10 million dollar signing bonus from the Chicago Bulls were an entire collection of seven Mercedes and Pontiacs for himself and his family one of his favorites is an Aston Martin db9 Volante with a retractable roof the car can retail for as much as 150 K another highlight is his mercedes-benz SLR McLaren 722 edition which goes for about six hundred and twenty five thousand dollars thanks to its high status with a lot of celebrity drivers Michael Jordan's also himself his own Ferrari 512 TR he bought the tetra Rosa back in the 90s for a reported two hundred and twelve thousand dollars one of Michael's oldest and coolest cars is the c4 Corvette after being drafted by the Chicago Bulls Jordan made a deal with a Chicago Chevrolet dealer to do a series of commercials in return he was gifted the c4 Corvette that's about a $40,000 gift Michael Jordan's love for cars might only be outmatched by his love for golf he even decided to build a private golf course because he was reportedly annoyed by the pace of play at his previous Country Club the Course in Florida is called Grove 23 the clubhouse has a full view of the gorgeous Course which used to be a citrus grove and the course can be played in many ways fast and slow so that Jordan doesn't have to worry about other golfers slowing him down ever again Jordan even has a custom Carolina blue golf cart with the Jumpman logo with the construction land costs and customizations it's estimated that the project will end up costing him between 15 and 20 million dollars when he's not on the basketball court or the golf course Michael Jordan likes to take luxury family vacations Jordan customized his own 61.5 million-dollar private jet complete with the Jumpman logo on the tail when he's not in the air Jordan and his family can kick back on their 80 million dollar private yacht jordan reportedly pays about eight hundred and forty thousand dollars a week when vacationing just to keep the ship operational that's not the only huge vacation expense that Michael Jordan deals with on the regular he reportedly never travels overseas without a security team which sets him back 1,000 to 1,500 dollars per hour Jordan's got a pretty big addiction to high-quality timepieces his watch collection is extensive and worth millions of dollars here are some of the highlights he has an ER work you are 202 a one hundred and forty five thousand dollar piece from the high-end avant-garde independent watchmaker it's decked out with sapphire crystals he's also got a Ulysse Nardin royal blue Derby on this 1.1 million dollar watch features 48 white diamonds and 12 blue diamonds Jordans collection also boasts a first edition aylonga and Zuna dagger with a platinum band and sapphires worth 90,000 $700 and of course we can't forget about his many Rolexes one of his most expensive pieces from the famous watchmaker is the Rolex Daytona in platinum worth a cool 75,000 if you didn't know by now that Michael Jordan loves to have fun with his money then consider that half of his watches could have been bought just with his winnings from his gambling habit Charles Barkley once told Dan Patrick Jordan used a wager hundreds of thousands of dollars on a single hole of golf and he also apparently wagered fans and Friends about whether or not he could make tough baskets while shooting hoops but even a mega rich NBA superstar is an immune to some financial struggles in addition to his Chicago compound that's on the market for 14 million less than he bought it for Jordan also lost a whopping 168 million dollars after his divorce in 2006 he's also been known to turn down deals with companies that he doesn't like even before he was super rich he was offered a million dollar deal with something called beanie weenies back when he was only worth five million but he turned it down because he just didn't like the name but even a loss here and there isn't gonna stop Michael Jordan from giving back to the community he's made huge philanthropic contributions including a recent 100 million dollar donation to black lives matter in 2019 he pledged 7 million dollars to open two medical clinics in Charlotte North Carolina and in 2018 he donated two million dollars to Hurricane Florence relief efforts he's also a frequent donor to the n-double-a-cp Legal Defense Fund and he puts his money behind his love for basketball by donating to sports and mentorship programs for young athletes it's nice to know that even after a record-breaking career and two billion dollars Michael Jordan is still doing his part to make the world and the NBA a better place which of Jordans luxury homes would you love to snatch up let us know in the comments section down below don't forget to hit that like button and subscribe to the richest for more thanks for watching we'll see you next time you you

Channel: TheRichest

Views: 2,504,329

Rating: 4.8321452 out of 5

Keywords: michael jordan, michael jordan house tour, michael jordan fortune, michael jordan net worth, air jordans, michael jordan cars, michael jordan watches, michael jordan yacht, michael jordan private jet, celebrity homes, nba stars, billionaire lifestyle, the richest

Id: HKQme-athCY

Length: 10min 58sec (658 seconds)

Published: Tue Jun 30 2020