basketball

Billionaire Michael Jordan Once Beat the Entire NBA by $4 Billion in Terms of Contribution to US Economy

NBA has never seen a more fierce competitor and an impactful influencer like Michael Jordan. The Ghost of Chicago was the first ever NBA personality to reach billionaire status. Jordan played in an era when NBA athletes did not have a high salary, and most of his money came from endorsement deals. The six-time NBA champ was an immediate sensation when he entered the league with the Chicago Bulls in 1984. However, the Michael Jordan era did not begin until the 1990s. Nobody could touch Jordan on or off the court in terms of his competitiveness and money-making skills.

NBA was in a difficult situation in the late 1970s. The league would have gone under if the Magic Johnson and Larry Bird rivalry had not come in. The epic competition between the Los Angeles Lakers and the Boston Celtics brought the league back up.

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However, NBA did not become the best basketball league in the world before Michael Jordan’s arrival. The 14-time All-Star was the face of the league in the 1990s, helping the league gain popularity across the world.

Jordan’s widespread recognition paved the way for endorsement deals with Nike. His presence led to a major increase in television ratings, ticket sales, and an increase in the sale of NBA accessories like shirts, jerseys, and caps.

A 1998 report by Fortune Magazine showcased Michael Jordan’s real value. He had a bigger impact on the US economy than the whole NBA combined.

Michael Jordan had the upper hand over the whole NBA

According to the report, Michael’s contribution to the US economy in 1998 was $10 billion. Shockingly, the total value of all 29 NBA teams was just over $6 billion. In the 1990s, Jordan was involved in all kinds of endorsement deals to make money while being the best on the court.

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MJ was endorsing Nike sneakers and various products from top-notch brands. During his first five championship wins with the Chicago Bulls, there was a steep rise in television ratings, rights fees, NBA retail sales, and ticket sales.

His brilliance also resulted in a rise in player salaries. Jordan’s persona and product line was estimated at $5.2 billion to Nike Inc. The six-time Finals MVP’s deals with other companies brought him about $408 million.

Watch this Story: Michael Jordan’s game-worn jersey gets sold for $4 million

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Furthermore, Jordan also contributed to the increased sales of NBA accessories, estimated at around $3.1 billion. Moreover, his movie ‘Jordan’s Space Jam’ earned $439 million at the box office and in video sales. MJ managed to do something like no NBA player could achieve on both sides of the line.

The five-time NBA is still going strong in terms of business. He was the only billionaire in the NBA until LeBron James joined him this year. Jordan also has his own tequila brand ‘Cincoro’. The 59-year-old is also a part-owner of NBA team ‘Charlotte Hornets.’ He continues to grow his business and impact the country’s economy in a major way.

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