Michael Jordan has not played in the NBA for nearly 20 years, and yet his legacy continues to grow. In 2020, Jordan took a big hit by broadcasting The last dance documentary series. With the sports world on hold due to the coronavirus pandemic, Jordan had full public control. Not only were his fans listening every Sunday evening, but he also presented his playing days to a whole new legion of basketball fans.
Jordan’s long partnership with Nike, which includes its own line of Jordan Brand shoes, has certainly played a role in maintaining his legacy as well – and that has made him extremely wealthy.
Even in the midst of a pandemic, Jordan’s grip on shoes has remained strong. In the past 12 months, Jordan Brand shoes have grossed over $ 3.6 billion, a 15% year-over-year increase.
Everything else in the Nike product line – including running, basketball, football, training, sportswear, and more. – have seen their turnover decrease over the past 12 years. Still, Jordan Brand experienced a double-digit increase.
In addition, if Jordan Brand makes $ 3.6 billion for Nike, it probably generates at least double when the shoes are sold by other retailers. This represents at least $ 7 billion in wholesale revenue. It is safe to say that the business is doing well. But what about Jordan individually?
Through his agreement with Nike, Jordan receives a royalty of 5% on all gross sales of Nike. A quick quick calculation shows that Jordan has made $ 180 million in royalties in the past 12 months.
Last year, Jordan earned $ 157 million. It may be fair that he earned $ 23 million more this year to match his jersey number perfectly.