One of the biggest sportswear manufacturers in the world, Nike has a solid reputation for creating top-notch athletic apparel and supporting elite athletes. Who is Nike’s best paid athlete? The corporation has a stable of famous athletes, including LeBron James and Cristiano Ronaldo. The solution might surprise you.
Michael Jordan, a retired basketball legend, earns the most money out of any athlete on Nike’s roster. Jordan’s endorsement contract with Nike, which he has had for more than three decades, still nets him millions of dollars every year. Jordan was the most paid athlete in the world even in retirement, earning $130 million from Nike alone in 2020, according to Forbes.
But does Jordan belong to Nike? No, is the response. Jordan and Nike have a lucrative endorsement arrangement, but the basketball star owns the Jordan brand. Although this company, which sports the recognizable “Jumpman” insignia, is a Nike subsidiary, it functions independently with its own unique line of goods and its own marketing and sales strategy.
Jordan’s wealth has mostly been attributed to his ownership of the Jordan brand. Thanks in large part to his ownership of the Jordan brand, Jordan is the first athlete to become a billionaire exclusively from profits from sport, claims Forbes. Forbes estimates that Jordan’s net worth is $1.6 billion.
What is Michael Jordan’s profit per shoe then? The answer is not simple because Jordan’s shoe line’s earnings depend on a number of variables, including sales volume and royalties. However, according to Forbes, Jordan made about $130 million from his partnership with Nike in 2020, with a sizable chunk of that coming from his shoe brand.
How much of Nike does Michael Jordan own, in total? Although Jordan’s ownership interest in Nike has not been made public, it is thought to be less than 1%. The success of Jordan’s economic interests, including the Jordan brand and his ownership of the Charlotte Hornets NBA franchise, has not stemmed from his ownership share in Nike, it is vital to highlight.
Despite the fact that Nike has a roster full of A-list athletes, former basketball great Michael Jordan continues to earn the most money for the brand. Jordan is the first athlete to become a billionaire entirely through sports profits thanks in large part to his ownership of the Jordan brand. Even though Jordan owns a modest amount of Nike, his continuous endorsement agreement with the corporation still nets him millions of dollars annually.
The story does not disclose the net worth of Nike’s owner; instead, it focuses on Nike’s highest-paid athlete and the association with Michael Jordan. Phil Knight, though, who according to Forbes has a net worth of over $51.6 billion, is the owner of Nike.